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At 7.25%, California has the highest minimum statewide sales tax rate in the United States, [8] which can total up to 10.75% with local sales taxes included. [9]Sales and use taxes in California (state and local) are collected by the California Department of Tax and Fee Administration, whereas income and franchise taxes are collected by the Franchise Tax Board.
Qualified Small Business Stock (QSBS) is a tax incentive to drive the investment and founding of small businesses in the United States of America. [1] The QSBS regulations are under U.S. Code Section 1202 [2] of the Internal Revenue Code (IRC). QSBS is a tax exemption on a federal, and in some cases, a state level. [3]
Many cities, counties, transit authorities and special purpose districts impose an additional local sales or use tax. Sales and use tax is calculated as the purchase price times the appropriate tax rate. Tax rates vary widely by jurisdiction from less than 1% to over 10%. Sales tax is collected by the seller at the time of sale.
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A major rockslide prompted two highways to be shut down in Colorado over the weekend and witnesses captured the frightening moment on video. Highways 96 and 165 from Wetmore to Westcliffe in ...
FICA tax revenue increased because in 1983 FICA tax rates were increased from 6.7% to 7% and the ceiling was raised by $2,100. For the self-employed, the FICA tax rate went from 9.35% to 14%. [99] The FICA tax rate increased throughout Reagan's term and rose to 7.51% in 1988 and the ceiling was raised by 61% through Reagan's two terms.
Boeing’s very bad year ended tragically on Sunday, as a 737 flown by Korean discount carrier Jeju Air crashed, killing 179 passengers and crew on board.. It’s not yet clear what caused the jet ...
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