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Texas – no individual income tax but imposes a franchise tax on corporations. In May 2007, the legislature modified the franchise tax by enacting a modified gross margin tax on certain businesses (sole proprietorships and some partnerships were automatically exempt; corporations with receipts below a certain level were also exempt as were ...
North Carolina Department of Revenue building. The Department of Revenue is an agency represented in the North Carolina Cabinet. [7] It collects state taxes and administers tax legislation.
U.S. State Nonresident Withholding Tax is a mandatory prepayment of tax of individuals or entities that are not resident in the state.A common example of this is the taxation of oil and natural gas royalty interest revenue.
We’ve compiled information from the IRS and NCDOR to provide answers and resources to those questions and more. Here’s what to know about filing your 2022 income taxes in North Carolina.
We’ve compiled information about the tax process, including how to file for free, what to do if you can’t pay, how to set up a payment plan and more.
Withholding of tax on wages includes income tax, social security and medicare, and a few taxes in some states. Certain minimum amounts of wage income are not subject to income tax withholding. Wage withholding is based on wages actually paid and employee declarations on federal and state Forms W-4. Social Security tax withholding terminates ...
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Corporations may be subject to withholding tax obligations upon making certain varieties of payments to others, including wages and distributions treated as dividends. These obligations are generally not the tax of the corporation, but the system may impose penalties on the corporation or its officers or employees for failing to withhold and ...