Tax Law

Is pet food taxed in Wisconsin? This sale is subject to Wisconsin sales tax. Pet Food: Food for dogs, cats, or other pets, if the food is not a drug. Pet Supplies, Except Drugs: Collars, leashes, shampoo and other pet supplies, unless they are drugs. Example 1: Veterinarian sells a bottle of regular shampoo to … Read more

What money Can the IRS not touch? A common way that the IRS goes after your money is with a bank levy. When a bank levy is initiated, it freezes your bank account, which means you can’t touch whatever money is in there. Even though the account is still in your name, the bank levy … Read more

How are LLCs taxed in Tennessee? By default, LLCs themselves do not pay federal income taxes, only their members do. Tennessee, however, imposes a franchise tax and an excise tax on most LLCs. You must register for this tax through the Department of Revenue (DOR). You can register by mail or in person at a … Read more

Something is excused or excluded from a specific duty or condition when it is exempt, according to the dictionary. Exemptions are typically provided by law, rule, or policy. Exemptions may apply to particular transactions, people, companies, or organizations. Exemptions in the context of taxation can refer to a reduction or deletion of taxes that would … Read more

Does Wisconsin recognize federal S election? (Note that a shareholder’s share of the S corporation’s income need not actually be distributed to the shareholder in order for the shareholder to owe tax on that amount.) Wisconsin recognizes the federal S election, and Wisconsin S corporations generally are not required to pay corporation franchise tax to … Read more

What is a 503 c 3 organization? Organizations described in section 501(c)(3) are commonly referred to as charitable organizations. Organizations described in section 501(c)(3), other than testing for public safety organizations, are eligible to receive tax-deductible contributions in accordance with Code section 170. Read more on www.irs.gov A nonprofit organization that has received Internal Revenue … Read more

How much is tax on food in CT? The restaurant tax is 7.35%. It’s added to every restaurant bill in the state. Read more on www.nbcconnecticut.com Every state has its unique set of laws and regulations regarding food tariffs. Like many other states, Connecticut has a distinctive system of food taxes. The majority of goods … Read more

Does Vermont charge sales tax on shoes? Most clothing and footwear sales are exempt from Vermont sales and use tax. Exceptions include clothing accessories and equipment, protective equipment, and recreational or sport equipment. Read more on www.avalara.com Vermont is a stunning state renowned for its rural charm, outdoor activity options, and natural beauty. If you’re … Read more

Do you have to file a DBA with the IRS? The IRS is not the only government entity requiring a DBA to file tax returns. Businesses are also required to submit returns to the state. Depending upon the state, you may be required to file quarterly or annual tax returns. Read more on smallbusiness.chron.com Choosing … Read more

What is the homestead exemption in Nebraska? The homestead exemption provides relief from property taxes by exempting all or a portion of the taxable value of the residence. The State of Nebraska reimburses counties and other governmental subdivisions for the property taxes lost due to homestead exemptions. Read more on revenue.nebraska.gov The homestead exemption is … Read more