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Illinois residents will vote on a 3% tax for millionaires in November. The governor says the tax could generate $4.5 billion annually and alleviate high property taxes.
Capital Gains Tax: The Capital Gains Tax is 19% for non residents from European Economic Area and 24% for non residents from other countries. For residents the capital gains tax ranges from 19% to 23% but they can also get tax relief if they have lived in the property for at least three years before selling it.
All U.S. real estate (and other assets) owned by non-resident aliens (and others) is subject to an estate tax upon the owner's death. However, U.S. citizens and residents are permitted a partial exclusion from estate taxes; non-resident aliens are also allowed a smaller exclusion (prior planning may change the exclusion level to that of a citizen/resident).
Composition of state and local tax revenues by sales taxes (brown), property taxes (white), licenses and other fees (grey), individual and corporate income taxes (green) in 2007. Determining the value of property is a critical aspect of property taxation, as such value determines the amount of tax due.
Selling a rental property is more complicated than selling your personal home. If you're not using the proceeds to buy another property, it's going to cost you. The tax consequences of selling a ...
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All states with income taxes impose a similar withholding obligation on wages paid to nonresidents by businesses operating within the state. [1] The taxes withheld must be treated as prepaid taxes, with final taxes imposed at the same rate and under the same computations for residents and nonresidents.
You can sell your primary residence and avoid paying capital gains taxes on the first $250,000 of your profits if your tax-filing status is single, and up to $500,000 if married and filing jointly.