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Local Income Tax Questions
What is local income tax?
is figured by a percentage of your
. Local income tax is only applied to where you live. In many states the income tax rate maybe flat. Some states have an increasingly higher rate for
. In some places major corporations do not have to pay local income taxes but individuals do. The way of figuring, gathering and spending local income tax differs by the jurisdiction. Certain states may have
that apply, for example investment income or retirement income. Your local
may be different. All this can lead to questions like the ones answered by Experts below.
In the state Louisiana how would I figure my local income taxes?
Louisiana is one of a few states that do not have a local income tax, but Louisiana does have
state income tax
the scale of which is 2, 4 or 6%.. The rate of your income tax depends on the amount of your income. So if your income falls underneath below the 2% bracket, your income tax will be at 2%.
In the state of Ohio will an individual’s income tax differ depending on where one works or lives?
is due first. City tax is based upon the income that is actually earned. An individual can also have taxes due for their resident city only if the tax rate is higher than the rate in the city you work.
If someone is missing their local wages and local income tax does this individual need a new W-2 Form?
Case details: Individual works in California for a Virginia based company and is paid from Virginia.
In many cases your W-2 does not include any local tax information the reason for this is most areas do not have local income taxes. The reason for not having that information could be a problem if you needed to pay local or state tax return. The federal government will not be worried if on the W-2 form there are no state and local boxes. Unless you are trying to file your local income tax return, your W-2 will be okay without your local tax information.
In the state of Pennsylvania is an individual required to pay taxes based on where he/she lives or where he/she works?
In the state of Pennsylvania an individual will be required to pay their taxes based on where they work instead of where they live. This is done in order to pay back respect to the city taxes.
If an individual lives in Toledo, Ohio but works in Michigan is he/she liable to pay local taxes in the state of residence?
There is no local income tax in the city of Toledo. However the tax is relevant to salary wages, and compensation for individual services received by Toledo residents. This also is relevant to non-residents of Toledo if work is done in the city of Toledo. If you are a resident in the city of Toledo you will have to pay income tax despite of where you work. In many cities in the state of Ohio they require an earning tax just as Toledo, which means you will pay tax as a resident no matter if you work in the town you live in or outside of the town.
Do you have questions about local income taxes, local income tax calculator or local income tax
and don’t know where to find these answers? You can ask the many Experts available round the clock these questions and many more.
Recent Local Income Tax Questions
Hi! I live in Argentina and Im planning to open a LLC in USA
Hi! I live in Argentina and Im planning to open a LLC in USA as we cannot work with dollars in here. I travel once a year to miami and I already got a personal bank account there and a paypal account
I was told that because being a non resident alien I don’t have to pay taxes in delaware or miami as Im a sole member in the LLC
I do online business as Im a web developer with clients worldwide so my business is not really on the US ( but some of my clients are )
Please provide as much information as possible, people seems to have different opinions about this on the internet
I´ve been also told that a sole member does not pay income tax in Miami or Delaware, but you would need to file form 1040NR and pay tax to the federal government. In my opinion, the simplest way to achieve what you want is to register a corporation. The only job of the US corporation would be to collect funds on behalf of your Argentinan business. The Argentinan business would pay a fee to the US corporation for that purpose. You would make the fee such that it is sufficient to cover US expenses, and you would make little or no profit in the US. Collections for your work would not be included as income of the US company.
In order for this to stand up, in case of audit, it is recommended that you make agreement between both companies clearly setting out the relationship and making clear the US company is merely a collection agency.
Is this true: The penalties for non-filing of the FBAR are
Is this true:
The penalties for non-filing of the FBAR are extremely harsh. They range from an automatic penalty of $10,000 to 50% of the balance of the account. It gets worse - if the IRS investigator can prove that you willfully withheld the information from the government criminal charges can be filed.
If I take an international assignment but have a house in NY
If I take an international assignment but have a house in NY to be rented to someone, am I still going to be considered a resident of NY for the NY state tax purpose?
What about if I have a house in NY, but leave it vacant?
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