Taxation

What state has the highest business tax? Iowa has the highest top statutory corporate tax rate at 12 percent, followed by New Jersey (11.5 percent), Pennsylvania (9.99 percent), and Minnesota (9.8 percent). Corporate Tax Rates by State 2021. State Corporate Tax Rate Illinois 9.50% Alaska 9.40% Maine 8.93% California 8.84% 46 more rows Read more … Read more

The U.S. is one of few countries without a VAT system. By way of background, and in overly simplistic terms, it’s assessed on all goods and services. In most European countries the rate hovers around 18-20%. Read more on www.hhcpa.com A tax known as Value Added Tax (VAT) is levied on the value that is … Read more

Is my 501c3 tax exempt? Although many nonprofit and religious organizations are exempt from federal and state income tax, there is no similar broad exemption from California sales and use tax. Generally, a nonprofit’s sales and purchases are taxable. Read more on www.cdtfa.ca.gov You will probably want to know if your nonprofit organization in the … Read more

States have been enlarging their tax rules in recent years to include economic nexus, which means that companies with a particular volume of activity in a state are subject to the sales tax regulations of that state. This has caused many firms to worry if they need to collect and remit sales tax because they … Read more

Why would I get a letter from Louisiana Department of Revenue? When a state department of revenue sends you a letter, it usually is to start a dialogue about proposed changes to your state return. You won’t owe any tax to the state until you agree with the proposed changes. Read more on ttlc.intuit.com It … Read more

How do I file my taxes in Wyoming? Since Wyoming does not collect an income tax on individuals, you are not required to file a WY State Income Tax Return. However, you may need to prepare and efile a Federal Income Tax Return. Read more on www.efile.com The national parks, scenic splendor, and low tax … Read more

Do window cleaners pay tax? All self employed Window Cleaners have to complete a tax return. It is important that you are aware of what allowable expenses you can claim against your income. Basically any expenses that you have incurred which are wholly and exclusively for your work are tax deductable. Read more on uk-taxreturn.co.uk … Read more

What can I write off as tax deductions? Sales taxes. You have the option of deducting sales taxes or state income taxes off your federal income tax. Health insurance premiums. Tax savings for teacher. Charitable gifts. Paying the babysitter. Lifetime learning. Unusual business expenses. Looking for work. Read more on turbotax.intuit.com Understanding what expenses you … Read more

How much tax do you pay when flipping houses? Tax treatment. In addition to being taxed at the ordinary income tax rates, real estate dealers are exposed to self-employment taxes. The self-employment tax applies to your net earnings. At present, the self-employment tax rate is 15.3%. At the state level, dealers will also be exposed … Read more

Do I need a tax ID in NH? You will need a Tax ID (EIN) in New Hampshire if you: Have employees. Operate your business as a Corporation or Partnership. Operate as Trust, Estate or Non-Profit Organization. Read more on irs.zoomfilings.com You might be unsure whether you require an employer identification number (EIN), often referred … Read more