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Richard Soto of VIP Realty recently recorded a YouTube video sharing seven reasons why you may not want to move to Texas for retirement (or at any time in your life, for that matter). 1. Boring ...
New Jersey does not charge sales tax on goods purchased for resale or on capital improvements but does charge sales tax on certain services. [160] New Jersey does not charge sales tax on gas, however, that is subject to a $0.375/gallon excise tax. Cigarettes are subject to a $2.70/pack excise tax, in addition to sales tax.
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. Unlike value added tax, sales tax is imposed only once, at the retail level, on any particular goods. Nearly all jurisdictions ...
Iowa, which also has a Republican trifecta controlling its statehouse and governor's office, is trimming its individual income tax rate to a flat rate of 3.8% starting Jan. 1, down from a top tax ...
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.
2007 sources of Indiana's revenue. Taxes in Indiana are almost entirely authorized at the state level, although the revenue is used to fund both local and state level government. The state of Indiana's income comes from four primary tax areas. Most state level income is from a sales tax of 7% and a flat state income tax of 3.05%. The state also ...
20% (10% for small taxpayer, those with revenue in a given tax year not exceeding the equivalent of €40,000) — — — Taxation in Saint Martin Saint Pierre and Miquelon: 33.3% (15% for small taxpayer, those with revenue in a given tax year not exceeding the equivalent of €600,000) — — — Taxation in Saint Pierre and Miquelon
However, Nevada, Ohio, and Washington impose a gross receipts tax while Texas has a franchise tax based on "taxable margin", generally defined as sales less either cost of goods sold less compensation, with complete exemption (no tax owed) for less than $1MM in annual earnings and gradually increasing to a maximum tax of 1% based on net revenue ...