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Yes.
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∙ 8y ago
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Why did minors not pay taxes?
Who says they don't? If they have income they most certainly do.
Do minors pay taxes in stock market?
Minors are subject to all of the same taxes as adults. The minor may also be subject to a special "kiddie tax" on investment income.
Income tax in New York State for minors?
Minors are subject to both state and federal income taxes just like adults.There are no age limits on income taxes.
Which countries don't pay income taxes?
Monaco doesn't pay income taxes
Will you pay taxes on your pension?
Yes could have to pay some income taxes on your pension income.
Does the estate pay taxes?
Estates pay taxes on income and may have to pay inheritance taxes.
What is the amount of income individuals have after they save and pay their taxes?
= the amount of income individuals have after they save and pay their taxes? =
On loss income money do we pay taxes taxes on it?
Generally, if you have NET income after deductions and losses, you pay tax.
What do state income taxes not pay for?
State income taxes don't pay for road repair in other states.
Do big companies have to pay income taxes?
Yes everyone has to pay income taxes no matter what even the president.
Do police officers have to pay taxes?
Yes. They pay income taxes and property taxes and sales taxes.
Do you withhold federal taxes for minors?
All taxes should be withheld on earned wages. If a minor has less than the standard deduction in UNEARNED income then they will not pay any Federal Tax... the state and local taxes depend on the state and locality.
