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Sales taxes, including those imposed by local governments, are generally administered at the state level. States imposing sales tax either impose the tax on retail sellers, such as with Transaction Privilege Tax in Arizona, [3] or impose it on retail buyers and require sellers to collect it. In either case, the seller files returns and remits ...
Discretionary income is disposable income (after-tax income), minus all payments that are necessary to meet current bills. It is total personal income after subtracting taxes and minimal survival expenses (such as food, medicine, rent or mortgage, utilities, insurance, transportation, property maintenance, child support, etc.) to maintain a certain standard of living. [7]
A special-purpose local-option sales tax (SPLOST) is a financing method for funding capital outlay projects in the U.S. state of Georgia.It is an optional 1% sales tax levied by any county for the purpose of funding the building of parks, schools, roads, and other public facilities. [1]
Hillsborough County's discretionary sales tax rate increased from 1% to 2.5% in January 2019. When combined with the state of Florida's 6%, the rate is 8.5%, the ...
Trump and a Republican Congress are expected to extend tax cuts passed during his first term that trimmed tax rates for small businesses, provided a 20% deduction and allowed immediate write-offs ...
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the ...
Whitney noted that households earning over $100,000 a year saw virtually no change in their after-tax income between 2019 and 2022. ... even as it shifted from discretionary items to essentials ...
Start by calculating your seller's discretionary earnings (SDE). SDE is like earnings before interest, taxes, depreciation, and amortization (EBITDA), with the owner's salary and benefits added ...