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The presumption is that the entity was supposed to withhold employee-owed payroll taxes or customer-owed sales taxes, and set those funds aside from the general funds of the entity, and not allow those funds to be spent for any purpose except payment of the trust-fund tax. Thus, in effect, failing to pay a trust-fund tax is considered the ...
The rules governing partnership taxation, for purposes of the U.S. Federal income tax, are codified according to Subchapter K of Chapter 1 of the U.S. Internal Revenue Code (Title 26 of the United States Code). Partnerships are "flow-through" entities. Flow-through taxation means that the entity does not pay taxes on its income.
This is a table of the total federal tax revenue by state, federal district, and territory collected by the U.S. Internal Revenue Service. Gross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state , the District of Columbia , and Puerto Rico .
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Stay updated on the news about taxes, deadlines, deductions, laws, the IRS, and all things related to your income taxes.
The Florida Hurricane Catastrophe Fund (FHCF) was created in 1993 in response to the Florida property insurance crisis resulting from Hurricane Andrew. The purpose for this state tax-exempt trust fund was to encourage additional insurance capacity in the state by providing a stable and ongoing source of reimbursement to insurers for a portion ...
It is a transfer tax, not an income tax. Ordinary monetary and property gifts are unlikely to be impacted by this tax, since the yearly limit for 2024 is $18,000 per giver per recipient.
In Pakistan income tax of 10% as required by the Income Tax Ordinace, 2001 on the amount of dividend is deducted at source. A surcharge of 15% on income tax is withheld and will be duly paid by the company to Government of Pakistan as per Income Tax (Amendment) Ordinance, 2011. In Poland there is a tax of 19% on dividends.
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