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The business and occupation tax (often abbreviated as B&O tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, [1] and by municipal governments in West Virginia and Kentucky. [2] It is a type of gross receipts tax because it is levied on gross income, rather than net income.
For example, Washington state does not have an income tax but levies a B&O (business and occupation tax) which is arguably a larger burden because the B&O tax is calculated as a percentage of revenue rather than a percentage of net income, like the corporate income tax. This means even loss-making enterprises are required to pay the tax.
Any business making less in taxable gross income than the B&O exemption does not pay the tax — although generally they still have to file. In 2022, Bremerton raised the minimum B&O exemption ...
The MTA had promised exemptions to emergency vehicles and disabled-rider transport, and it was also proposing a tax credit for low-income residents in the congestion pricing zone. [178] In March 2022, the federal government requested that the MTA answer 430 questions about the technical aspects of the congestion charge before the MTA submitted ...
Mankato has a 0.5% sales tax since 1991. Motorized vehicles are exempt from this tax. [135] Effective April 1, 2016 Blue Earth County began imposing a 0.5% sales tax for transportation needs throughout the county. [136] Starting on October 1, 2019, the following cities will be imposing a city sales tax: Elk River 0.5%, Excelsior 0.5%, Rogers 0.25%.
Such tax is generally based on business income of the corporation apportioned to the state plus nonbusiness income only of resident corporations. Most state corporate income taxes are imposed at a flat rate and have a minimum amount of tax. Business taxable income in most states is defined, at least in part, by reference to federal taxable income.
Delaware - Business and occupational gross receipts tax rates range from 0.096% to 1.92%, depending on the business activity. [ 5 ] Florida - A tax of 2.5% is imposed on "gross receipts from the sale, delivery, or transportation of natural gas, manufactured gas, or electricity to a retail consumer in Florida," referring to utility companies ...
The Nevada State Department of Taxation is a Nevada government state agency that mainly focuses on the collection and distribution of taxes in Nevada. Aside from its taxation-related duties, the agency also manages and regulates marijuana business licensing and property appraisals. [1]