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New Hampshire – The accelerated phase-out of a tax on dividends and interest completed at the start of 2025. [15] For large businesses, the 0.55% Business Enterprise Tax is essentially an income tax. The state also has a 7.5% (2024) Business Profits Tax. [16]
When calculating the tax on dividends for tax year 2024, it’s important to distinguish between ordinary dividends and qualified dividends, as they are taxed differently.
However, shareholders of S corporations and mutual funds are taxed currently on corporate income, and do not pay tax on dividends. Almost half of all private employment in the United States is within businesses that do not pay a corporate tax, but which rather pass the business income through to the owners’ individual income taxes. [1]
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.
But when it comes to the interest you pay on a business loan, there are a few cases when you will not be able to write off the expense. They include: Interest on loans for overdue taxes or tax ...
You can check the status of your Kentucky state tax refund at the state's online portal. You can speak with an examiner about a prior year's or amended refund by calling (502) 564-4581.
The qualified dividend tax rate was set to expire December 31, 2008; however, the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) extended the lower tax rate through 2010 and further cut the tax rate on qualified dividends to 0% for individuals in the 10% and 15% income tax brackets.
Republican leaders in the General Assembly announced this week that the state’s budget has hit the required triggers to lower Kentucky’s income tax rate from 4% to 3.5%, as part of a system ...