Taxation

What items are not taxed in Tennessee? What purchases are exempt from the Tennessee sales tax? Clothing. 7% Groceries. 5% Prepared Food. 7% Prescription Drugs. 7% OTC Drugs. 7% Read more on www.salestaxhandbook.com When compared to other states in the US, Tennessee is renowned for having low tax rates. The state’s 7% sales tax rate … Read more

How much is sales tax on a vehicle in Iowa? Iowa collects a 5% state sales tax rate as a “”””One-Time Registration Fee”””” on the purchase of all vehicles. In addition to taxes, car purchases in Iowa may be subject to other fees like registration, title, and plate fees. Read more on www.salestaxhandbook.com You might … Read more

How much is Chicago tax? Conclusion Rates in Cities with Populations Above 200,000, as of City State Total Chicago, IL 6.250% 10.250% Fremont, CA (a) 6.000% 10.250% Long Beach, CA (a) 6.000% 10.250% 68 more rows ? Read more on taxfoundation.org Chicago, the third-largest city in the country, is renowned for its rich history, diverse … Read more

When did Hawaii general excise tax start? In 1932, neither Hawaii precedents nor mainland practice would have suggested a general tax aimed at consumption. The sweep of retail sales taxes across the nation did not begin until the following year. The business excise remained in force only until January I, 1936. Read more on lrb.hawaii.gov … Read more

Can you make an exception? Exempt someone or something from a general rule or practice, as in Because it’s your birthday, I’ll make an exception and let you stay up as late as you want. This expression was first recorded about 1391. Read more on www.dictionary.com As customers, we frequently run into circumstances where we … Read more

What happens if a corporation does not file a tax return? If your company does not file taxes or does not pay the full amount, then you may be subject to a 10-15% penalty, which applies to every month the payment is delinquent, up to a maximum of 25%. An additional penalty of $135 and … Read more

What do I do if I didn’t receive my 1099-G? If you did not receive a Form 1099-G, check with the government agency that made the payments to you. If you received a state or local income tax refund for 2012 and you reside in Conn., Mo., N.J., N.Y. or Penn your Form 1099-G may … Read more

Is Social Security taxed in Iowa? Iowa does not tax Social Security benefits. Read more on tax.iowa.gov The purpose of the government’s Social Security program is to give retired and handicapped people financial support. Payroll taxes, which are taken out of employees’ paychecks, are used to pay for the benefits. With a few exceptions, Social … Read more

What services are subject to sales tax in Mississippi? In the state of Mississippi, sales tax is legally required to be collected from all tangible, physical products being sold to a consumer. Several examples of exceptions to this tax are some medical devices, certain prescription medications, and some items that are used in the manufacturing … Read more

Does NY require separate S corp election? When a corporation makes a federal election to be treated as an S corporation, New York state requires a separate state S corporation election as well. Read more on www.bdo.com The S Corporation entity type, a variant of the conventional corporation (C Corporation), is recognized by New York … Read more