Child support is an ongoing payment by one parent to the other for a child’s daily living expenses. Deciding on child support can be a complex process, but navigating these guidelines doesn’t have to be stressful. This guide will walk you through the key points of Alaska’s child support system, including how to calculate payments … Read more
Using tax brackets is one of the most effective ways to calculate your state income taxes. The process involves dividing your taxable income, which is the sum of your earned and investment income minus deductions and adjustments, into different tax levels or “brackets.” Each level has a different marginal tax rate, with taxpayers in higher … Read more
Sales tax is levied on the sale of tangible goods and certain services, with the responsibility of collecting and remitting the tax falling on the seller. Exemptions are available for buyers that have a legal basis to not pay the tax. Examples include resale certificates, exemptions from local taxes, purchases made with food stamps, and … Read more
When it comes to state income taxes, Alabama follows a progressive tax system, which means that the rate you pay goes up as your taxable income increases. In 2024, the state income tax rates are 2% on the first $500 of taxable income, 4% up to $3,000 and 5% above that. Taxpayers in the Yellowhammer … 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
Unless you’re a nonresident, anyone who works in Maine or earns income from a Maine source must file a state tax return. Maine’s top income tax rate has been cut multiple times in recent years but remains at 7.15% for the 2024 filing year. The state’s sales tax is also among the lowest in the … Read more
The Louisiana Form L-4, or Employee Withholding Exemption Certificate, is crucial for ensuring you have the correct amount of Louisiana state income tax withheld from your paycheck. If you’re working in Louisiana, you must complete this form and submit it to your employer. By completing the included worksheet, you indicate the number of allowances you’re … Read more
If your business license has expired, you may be required to reactivate it in order to continue operations. This process is different for each state and can be complex. You may need to pay fees and/or fines, file missed annual reports, or meet other requirements set by the regulatory agency that oversees business licenses. The … Read more
If you want to become a Montana resident, you must do several things first. Generally, you must prove that you have been domiciled in Montana for 12 months with a bona fide intent to make the state your permanent home. A person is presumed to lack the intent necessary to acquire Montana residency if he … Read more
If you conduct business in Missouri, it’s important to understand the state’s sales tax regulations. There are several types of sales taxes, including the state’s 4.225% sales tax and local taxes that vary by district, county and city. If you have nexus in the state, you must register with the Department of Revenue and charge … Read more