Taxation

What is the business tax in Maine? Maine imposes an income tax on all entities organized as corporations and that have Maine-source income. The corporate income tax is graduated, with rates ranging from 3.5% (for income up to $350,000) to 8.93% (for income in excess of $3,500,000). Read more on www.maine.gov The state of Maine … Read more

Does North Dakota tax retirement income? North Dakota is moderately tax-friendly toward retirees. Social Security income is partially taxed. Withdrawals from retirement accounts are fully taxed. Public and private pension income are partially taxed. Read more on smartasset.com Retirement can be a thrilling phase of life, but there are also financial issues to take into … Read more

What is the Missouri Department of Revenue Taxation Division? The Taxation Division administers Missouri’s tax laws. It processes and administers forms and reports for the collection of revenue due the state and local taxing jurisdictions. Read more on www.mo.gov The Missouri Department of Revenue Taxation Division is in charge of collecting taxes, fees, and assessments … Read more

Can you 1099 yourself in an S Corp? Whether you contract with an S Corp or are an owner of one yourself, this article is for you. S Corps are not required to get a form 1099-MISC or 1099-NEC from their clients. Similarly, businesses that contract with S Corps do not need to issue them … Read more

Do I have to pay taxes on Etsy sales? If you sell items on Etsy, you must pay income tax on your income-usually, the total amount you earned by selling your products, less your business expenses. Etsy reports your gross income to the IRS on Form 1099-K, but even if you don’t receive a 1099-K, … Read more

What items are taxed as luxury? Luxury tax is a tax placed on goods considered expensive, unnecessary and non-essential. Such goods include expensive cars, private jets, yachts, jewellery, etc. Luxury tax is “”an indirect tax that increases the price of a good or service and is only incurred by those who purchase or use the … Read more

If you operate as a lone proprietor, you might be unsure about your tax obligations. You do, is the answer. Both income tax and self-employment tax must be paid by sole proprietors. Taxes on income You must include all of your business income on your personal income tax return if you are a lone proprietor. … Read more

What professional fees are not tax-deductible? Legal and professional fees that are incurred in respect of a capital item are not allowable, such as those associated with incorporation, acquisitions, disposals, the improvement or destruction of assets. 3 days ago Read more on www.lexisnexis.co.uk You might be wondering which professional services as a business owner you … Read more

What is a business income tax return? What is a business tax return? If you own a business, you need to file a company tax return. A business tax return reports your company’s income, tax deductions, and tax payments. All businesses must file tax returns. Read more on www.patriotsoftware.com The annual tax return that every … Read more

How is commission taxed in Utah? For example, if your bonus or commission is included in your regular pay, then it’s taxed according to normal federal and state withholding. If you receive it outside your regular paycheck, then it becomes supplemental and your commission is taxed at a rate of 25%. Read more on www.paycheckcity.com … Read more