Taxation

What is Ri use tax? What is the Use Tax rate? The Rhode Island consumer use tax rate is 7%, which is the same rate as the state sales tax. Read more on support.taxslayer.com The usage tax in Rhode Island is a kind of tax levied on purchases made outside the state but utilized inside … Read more

What taxes do retirees pay in Georgia? The first $35,000 of any retirement income for Georgia residents 62 to 64 is exempt from state income taxes, while the first $65,000 of retirement pay is exempt for Georgia residents 65 and older. 3 days ago Read more on www.wabe.org In Georgia, there are several taxes that … Read more

Do I have to file taxes if my LLC made no money? All corporations are required to file a corporate tax return, even if they do not have any income. If an LLC has elected to be treated as a corporation for tax purposes, it must file a federal income tax return even if the … Read more

What is the Utah use tax? The range of total sales tax rates within the state of Utah is between 5.9% and 8.1%. Use tax is also collected on the consumption, use or storage of goods in Utah if sales tax was not paid on the purchase of the goods. The use tax rate is … Read more

What is the IRS definition of entertainment? Section 1.274-2(b)(1)(i) of the Income Tax Regulations provides that the term “”entertainment”” means any activity which is of a type generally considered to constitute entertainment, amusement, or recreation, such as entertaining at night clubs, cocktail lounges, theaters, country clubs, golf and athletic clubs, Read more on www.irs.gov The … Read more

Do you have to pay corporation tax if you close my company? As such, a dormant company will not be required to pay any Corporation Tax while it is dormant. Furthermore, as long as no money is taken out of the company and no shares are disposed of during its dormancy, there will be no … Read more

Can I write off business expenses prior to becoming a business? YES. You can claim those expenses. The IRS classifies business expenses incurred before the “”start of business”” as capital expenses and capital assets (computers, equipment, land, furniture, etc.) Read more on ttlc.intuit.com If you’re starting a business, you might be asking if you can … Read more

Why are distributions not taxed? A non-taxable distribution is a payment to shareholders. It’s just not taxed until the investor sells the stock of the company that issued the distribution. Non-taxable distributions reduce the basis of the stock. Stock received from a corporate spinoff may be transferred to stockholders as a non-taxable distribution. Read more … Read more

Does North Carolina have a manufacturing exemption? ManufacturingTax Exemptions. North Carolina does not levy a sales and use tax on repairs to industrial machinery or service contracts for mill machinery. Read more on edpnc.com Like many other states in the USA, North Carolina offers exclusions for particular kinds of transactions to assist businesses in paying … Read more

Is Labor taxed in ND? “”Services”” refers to the sale of labor or a non-tangible benefit. In North Dakota, specified services are taxable. Read more on www.salestaxhandbook.com Like most states, North Dakota levies income taxes on its citizens. With a single tax rate of 2.9% applied to all taxable income, North Dakota’s state income tax … Read more