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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
Louisiana exempts the first $7,500 of residential homestead from local property taxes. [8] Maine exempts the first $25,000 of a primary residential homestead from property taxes. This is paid to the municipality and refunded when state taxes are filed. [9] Michigan exempts the homeowner from paying the operating millage of local school districts.
Donors of gifts in excess of the annual exclusion must file gift tax returns on IRS Form 709 [100] and pay the tax. Executors of estates with a gross value in excess of the unified credit must file an estate tax return on IRS Form 706 [101] and pay the tax from the estate. Returns are required if the gifts or gross estate exceed the exclusions.
Overall, the total school aid fund budget is $20.6 billion, down from $21.5 billion in the previous budget. The reasons behind that decline are complex, including declining state revenue.
If you have had trouble saving for retirement, putting money away for a down payment, creating a budget, saving for family vacation or other money goals, don't feel too bad, said Brad Klontz, a...
In November 1978, Michigan voters approved Proposal M, which, in addition to allocating gas tax revenues, replaced the Michigan State Highway Commission with the Michigan State Transportation Commission. [26] By 1983, the department director became appointed by the state governor.
The 911 call came in at about 4 p.m. on Sept. 18, 2014, to Gilchrist County dispatchers in Florida. On the tape, the 911 operator could hear a man admitting to killing his adult daughter and his ...
The first federal gasoline tax in the United States was created on June 6, 1932, with the enactment of the Revenue Act of 1932, which taxed 1¢/gal (0.3¢/L). Since 1993, the US federal gasoline tax has been unchanged (and not adjusted for inflation of nearly 113 percent through 2023) at 18.4¢/gal (4.86¢/L).