People who live in California must pay state income tax on their worldwide income. California State Income Tax includes people who run a business, trade or profession in the state. The state uses a progressive tax system, which means that your rate will increase as your income increases. This means you’ll need to calculate your … Read more
If you have a sales tax nexus in Colorado and sell tangible goods or services, you are required to register for and collect Colorado state and local sales taxes. Using a simple sales tax calculator, you can determine the correct combined Colorado state and local rate to charge your customers. Colorado sales tax rates vary … Read more
Complying with sales Connecticut tax rules can be a huge burden on small businesses. Tracking taxable transactions and filing returns on time can be difficult, especially when out-of-state sales are involved. The State of Connecticut has a statewide sales tax rate of 6.35%. It does not have local sales taxes. The state’s taxable goods and … Read more
Florida Sales Tax is 6% on most goods and services. Whether you’re selling in Florida or just passing through, you need to understand how sales tax works here. Remember, those tax dollars don’t belong to you – they’re collected on behalf of the state and must be returned to it at certain times. If you’re … Read more
Georgia state income tax applies to individuals who earn ordinary income. Ordinary income includes money earned from your job, investments, and savings accounts, as well as dividends, interest, and royalties. It excludes long-term capital gains, which are typically taxed at a lower rate. Most Georgia residents need to file a return if they have Georgia-source … Read more
Hawaii State Income Tax is a progressive tax, meaning it has different rates for each taxable income bracket. This is one factor contributing to Hawaii having one of the highest overall tax burdens in the country for high-income taxpayers. You can determine your Hawaii taxable income by adding up all of your itemized deductions and … Read more
Florida state taxes are the main source of revenue for the state government. Sales and use taxes are the most prominent sources of state income, but there are other ways that Florida raises money. For example, the state charges a tax on renting or leasing real estate and on the use of amusement machines. In … Read more
Georgia sales tax is 4% and a maximum local sales tax of 5%. Its tax code ranks 32nd on the State Business Tax Climate Index. Beginning on January 1, 2024, the state will impose a new tax on digital products and services. The new tax will apply to specified digital products, other digital goods, and … Read more
Arkansas taxes ordinary income, which is the money you earn from your job or small business. Ordinary income does not include long-term capital gains or qualified dividends, which are taxed at lower rates. It also excludes most retirement income. Ordinary income is taxed at a higher rate than other types of income. Individuals who have … Read more
Arkansas Sales Tax is 6.5 percent, and local cities and counties may add additional taxes. You must collect local rates and apply them to your total sales unless you have an exemption certificate. In addition, you must make sure that customers are aware of the sales tax amount on their invoices. The Arkansas sales tax … Read more