In New York, there is a municipal sales tax in addition to the state sales tax, which varies by county and city. For instance, the sales tax rate in Albany is 8% while it is 8.875% in New York City. It’s crucial to remember that some things, like prescription drugs, specific kinds of apparel and footwear, and some kinds of food, are free from New York’s sales tax.
The state of Ohio is another one that levies a sales tax on both products and services. Ohio’s state sales tax is 5.75%, but since local governments are free to tack on their own taxes, the overall amount can range from 6.5% to 8%. The answer to the question of whether coffee is subject to tax in Ohio is yes. Coffee is included in the list of foods and drinks that are all subject to sales tax in Ohio.
There are a few exceptions to this rule, though. For instance, there is no sales tax if you purchase coffee beans or ground coffee to brew yourself at home. Additionally, if you buy coffee in a restaurant as part of a meal rather than just a beverage, you can pay less sales tax on it.
Now that we’ve addressed the issue of which states do not impose an income tax, we can state that there are currently seven states that do not: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. It’s crucial to keep in mind, too, that some states might make up for the absence of an income tax with other taxes and fees.
Last but not least, Ohio individuals 65 years of age or older who have a combined income of less than $31,500 (for single filers) or $63,000 (for joint filers) are eligible for the Ohio senior citizen credit. The credit, which may be worth $20 to $50, is determined by how much Ohio income tax is owed. Seniors must submit Ohio Form IT 1040 and a Schedule of Credits in order to be eligible for the credit.
To sum up, sales tax is a complicated subject that differs according to state and local laws. While the sales tax rate in Ohio ranges from 6.5% to 8%, it can vary from 4% to 8.875% in New York. Prescription drugs and some types of food are excluded from sales tax, but the majority of products and services are taxed. It’s also vital to keep in mind that each state also offers additional taxes and credits, such as the Ohio senior citizen credit.
Yes, social security benefits are taxed in Ohio, however the amount of the benefit that is taxed is determined by the taxpayer’s income. A taxpayer’s social security benefits up to $250,000 can be exempt from Ohio state income tax if their federal adjusted gross income is less than $100,000. Social Security benefits will be completely taxed for taxpayers with a federal adjusted gross income over $100,000, though.