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In addition to increasing the rate on long-distance calls, it also imposed the tax on "general" or local telephone service for the first time. The rate of tax for local telephone service was set at 6 percent of the amount paid by subscribers while that for long-distance calls was set at 5 cents for each 50 cents or fraction thereof, if the cost ...
Long-term capital gains tax is a tax applied to assets held for more than a year. The long-term capital gains tax rates are 0 percent, 15 percent and 20 percent, depending on your income.
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. Use tax is self assessed by a buyer who has not paid sales tax on a taxable purchase.
From 1998 through 2017, tax law keyed the tax rate for long-term capital gains to the taxpayer's tax bracket for ordinary income, and set forth a lower rate for the capital gains. (Short-term capital gains have been taxed at the same rate as ordinary income for this entire period.) [ 16 ] This approach was dropped by the Tax Cuts and Jobs Act ...
In 2000 and 2001, people exercised incentive stock options and held onto the shares, hoping to pay long-term capital gains taxes instead of short-term capital gains taxes. [64] Many of these people were forced to pay the AMT on this income, and by the end of the year, the stock was no longer worth the amount of alternative minimum tax owed ...
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Make sure you stay long enough to collect any annual bonuses you may be entitled to, while also considering how that income could impact your tax situation. For example, many companies pay annual ...
Federal excise tax revenue from tobacco products peaked in fiscal year 2010 at $17.2 billion after the increase in tobacco product tax rates in the Children's Health Insurance Program Reauthorization Act of 2009. This tax increase, which took effect in April 2009, was the most recent time federal tobacco tax rates were changed.