The state of Idaho is waiting on data from local taxing districts before it can start calculating property tax savings. The circuit breaker credit accounts for the ability to pay and reduce property taxes on homes and up to one acre of land. Idaho Property Tax Reduction Applications are available at the assessor’s office. If … Read more
Business registration is a fundamental step for entrepreneurs, especially those seeking to launch enterprises that adhere to state guidelines. This procedure entails thoughtfully choosing a legal name, completing the necessary forms and acquiring relevant permits and licenses at the town/city level. It is also wise to establish a separate bank account for business expenses, which … Read more
As a company owner, you must keep up with federal payroll taxes, including Social Security and Medicare. There are also state payroll taxes that vary by location, and Kentucky is no exception. Fortunately, the state’s tax rate and standard deduction are relatively simple to calculate and withhold. As a Kentucky employer, you must pay and … Read more
As a property owner in West Virginia, it’s important to be aware of the state’s unique property tax laws and deadlines. For example, West Virginia property taxes are due semi-annually, with the first half payable by September 1 and the second half payable by March 1. In addition, the state imposes a 9% interest rate … Read more
Farmers and ranchers often make retail sales of the products they produce. In addition, they may also provide taxable services, such as welding or well drilling. Those who sell tangible personal property or taxable services must register to collect and remit state and local sales taxes (see How to Register, herein). Tangible personal property is … Read more
You can visit any of the four main counties in Hawaii to make a DMV appointment. However, the process varies by county, so it’s important to know which type of road test you need and which supporting documents you must bring. If you have any questions, feel free to contact the local DMV or ask … Read more
Delaware’s tax structure is very favorable for businesses. Its corporate income tax is a flat 8.7%, and no local taxes are added. Similarly, its personal income tax is lower than most states. It also does not have a sales tax or inventory taxes, which can save companies money. Delaware allows business owners to form an … Read more
The state of Colorado allows farmers and agricultural operators to make tax-exempt purchases on certain items of equipment. To qualify for the exemption, a purchaser must provide a completed and signed Colorado Form DR 0511 to the vendor before making a purchase. The affidavit affirms that the purchased item will be used or consumed in … Read more
The Alabama Department of Revenue (ALDOR) has several options for businesses that are behind on sales tax payments. You can request a waiver of penalties and interest charges if you meet certain conditions. If you can’t pay your back taxes, the state may also levy a writ of execution against your business and sell your … Read more
The Alabama business privilege tax is a state tax imposed on all entities that conduct business in the State of Alabama. The tax is levied based on the entity’s federal taxable income apportioned to the State of Alabama. The rate varies from $0.25 to $1.75 per $1,000 of net worth in the State of Alabama. … Read more