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The biggest culprits creating what Nelson has described as the "fiscal cliff" are the expiration of a 0.45% temporary sales tax that generates $455 million in annual revenue and the expiration of ...
But to offset the loss of income tax revenue Landry is proposing making permanent a 0.45-cent sales tax set to expire in 2025 and adding sales tax to hundreds of services like car washes ...
Louisiana taxpayers will have to wait at least another year before lawmakers consider eliminating the state's $4.5 billion income tax again. Republican Columbia state Rep. Neil Riser's House Bill ...
Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account.
A "mirror" tax is a tax in a U.S. dependency in which the dependency adopts wholesale the U.S. federal income tax code, revising it by substituting the dependency's name for "United States" everywhere, and vice versa. The effect is that residents pay the equivalent of the federal income tax to the dependency, rather than to the U.S. government.
The amount of income tax withheld is treated as a payment of tax by the person receiving the payment on which tax was withheld. Employers and employees must also pay Social Security tax, the employee portion of which is also to be withheld from wages. Withholding of income and Social Security taxes are often referred to as payroll tax.
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Income tax regulations require the LLC to withhold 25 percent federal taxes, and 5 percent Louisiana taxes, from prizes of more than $5,000. A gambling income statement, W2-G, is mailed to the claimant by January in the year following the payment of the prize.