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Income taxes are filed annually by the payer, and must be filed by April 15, or the next business day if the 15th falls on a weekend. Failure to file taxes is a criminal offense. Overpayment of taxes will result in the state issuing a refund of the overpaid amount, or the overpayment can be held as a credit for the next taxing period.
Indianapolis Power & Light Company, 493 U.S. 203 (1990), was a United States Supreme Court case in which the Court addressed whether customer deposits constituted taxable income to a public utility company.
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.
The council also has limited authority to impose local taxes, in the form of an income and property tax that is subject to state level approval, excise taxes and service taxes. [ 38 ] [ 39 ] In 2010, the county budgeted approximately $2.2 million for the district's schools and $2.8 million for other county operations and services, for a total ...
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For many municipalities in the United States, property taxes are the primary source of revenue. The amount of forgone tax revenue as a result of these tax-exempt land parcels is significant. The president of the city council of Baltimore, MD, recently estimated that his city loses $120 million annually from these foregone taxes. [16]
The auditor of state, officially doing business as "the state comptroller", functions as the chief financial officer for the whole of state government. In terms of financial accounting, the auditor of state creates and operates the statewide accounting system, maintains a record of revenues, expenditures and balances by state fund, collects debts owed the state, and prepares various financial ...
Elwood was laid out in 1853 under the name "Duck Creek". [5] It was incorporated as a city in 1891. [6]A post office was established under the name "Duck Creek" in 1855, was renamed to Elwood in 1869, and has been operating since. [7]