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As the US income tax system at the time was highly progressive, the surtax was much higher on those with higher incomes, as a 10% surtax imposed on a tax rate of 20% would result in an overall rate of 22%, and the same surtax imposed on a rate of 50% would result in an overall rate of 55%.
A "discretionary sales surtax" may be imposed by the counties of up to 2.5%, charged at the rate of the destination county (if shipped). This is 1% in most counties, 0.5% in many, and 1.5% in a few such as Leon. Effective in 2019, Hillsborough County's surtax rate was raised to 2.5%. A few counties have no additional surtax.
Start by calculating your seller's discretionary earnings (SDE). SDE is like earnings before interest, taxes, depreciation, and amortization (EBITDA), with the owner's salary and benefits added ...
In November, retail sales ticked up 0.7% compared to the 0.6% Wall Street expected. The US economy also grew faster in the third quarter, up 3.1%. Recently, weekly jobless claims fell to 211,000 ...
Sales taxes in the United States are taxes placed on the sale or lease of goods and services in the United States. Sales tax is governed at the state level and no national general
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the ...
Discretionary spending is non-essential spending that isn't mandatory for your basic needs like shelter, food, healthcare, work and personal care. Many expenses are essential, but discretionary...
In the United States, a local option sales tax (often abbreviated LOST) is a special-purpose tax implemented and levied at the city or county level. A local option sales tax is often used as a means of raising funds for specific local or area projects, such as improving area streets and roads, or refurbishing a community's downtown area.