Illinois Medicare is a health insurance program run by the federal government. It has several parts, including Part A (hospitalization coverage), Part B (medical services coverage), and Part C (Medicare Advantage plans). Many Medicare beneficiaries choose to supplement their benefits by adding a Medigap plan, which helps cover the 20% of costs that Original Medicare … Read more
Florida Reemployment tax is one of the costs that Floridian employers must pay. It is not a payroll deduction and does not affect workers’ wages. The money paid by employers goes into a fund that pays out reemployment benefits to Floridians who are unemployed through no fault of their own. Florida’s reemployment tax rate is … Read more
The FSSA in Indiana provides many valuable resources for those who need help, including food assistance, healthcare coverage, and prescription drug discounts. They also offer a comprehensive online portal that allows recipients to manage their benefits and make payments. In addition, they provide a screening tool and certified navigator information to help applicants navigate the … Read more
New Jersey state income tax is levied on individuals based on their level of earnings. It is collected by withholding from individual worker paychecks and by estimated payments for self-employed individuals, and it is remitted to the State each April. In addition, residents who have filed for a six-month extension must pay 80 percent of … Read more
Whether you’re hiring your first employee or growing a business in Montana, there are payroll taxes to pay and filing deadlines to meet. The Treasure State has many benefits for entrepreneurs, including its competitive tax rates. In addition, it is less restrictive in its labor and wage laws than other states. This means that you’ll … Read more
Montana is a taxpayer-friendly state with low sales and property taxes. However, its income tax rate is fairly high. To help offset this, the state offers a variety of credits and deductions. Some of these include the Earned Income Tax Credit, college savings account credit, and the home energy efficiency rebate credit. These credits and … Read more
Massachusetts implemented an excise tax on pass-through entities in response to the federal limitation on the state and local tax deduction imposed on individuals. The PTE Excise is 5% of the Massachusetts-source income of an electing pass-through entity. Qualified members of an eligible pass-through entity are entitled to a personal income tax credit equal to … Read more
The Colorado Department of Revenue requires all taxpayers to make quarterly estimated tax payments on Colorado Estimated Tax Payment Form DR 0104EP. The payments are based on the taxpayer’s net income for the year, less withholding and credits. These payments are due by the 15th day of the year’s 4th, 6th, 9th and 12th months. … Read more
The Arizona Department of Revenue (ADOR) handles a variety of tasks, including processing tax returns and issuing refunds. Where’s My Refund: Arizona (The ADOR) website is a valuable resource for taxpayers, as it provides real-time updates on the status of their return. This information can help taxpayers manage their expectations and plan accordingly. The ADOR … Read more
Virginia income taxes apply to residents and nonresidents who receive taxable income from Virginia sources. Anyone who is a resident of Virginia must file an individual state income tax return or Form 760. Nonresidents file Form 763. Virginia has reciprocity agreements with Kentucky, Maryland, Pennsylvania, West Virginia, and the District of Columbia for tax withholding … Read more