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Is it unusual to owe more state income tax than federal income tax?
Wiki User
∙ 15y ago
It depends on what you mean by "owe."
If you mean the amount you have to pay at the end of the year in addition to your withholding, it is not at all unusual. The amount withheld is only a rough estimate of what you might owe in taxes and controlled by the W-4 form and the equivalent state form. Few people know how to accurately fill out either form, so all sorts of funny things happen.
If you mean your liability before withholding, it is kind of unusual, since generally state tax rates are much lower than federal rates. But the federal government does have all sorts of tax breaks for low income filers (EIC, child tax credits, etc) that can sometimes eliminate or nearly eliminate federal taxes, so it is quite possible for that to happen.
Wiki User
∙ 15y ago
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Can you Claim state taxes on federal return?
Yes. And if you pay more in sales taxes than state income taxes, you can use that
Are state taxes deductible for federal corporate income taxes?
Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.
True or False The Federal income tax on corpoations generates more revenue than the Federal income tax on individuals?
false
What is income tax spent on?
Federal income taxes fund the federal budget. The federal budget is spent in a variety of ways, from military and defense spending, federal employee salaries, federal buildings, grants to state/local governments for various projects, such as roads and schools, foreign aide as well as everything else the federal government does. Check http://www.gpoaccess.gov/usbudget/ for more info about how/where the federal government spends money.
What percentage of a paycheck is taken out for federal tax in Arizona?
Arizona state income tax along with a federal tax is usually withheld from your paycheck as you receive it each pay cycle. While the federal income tax rates are set for each income bracket, AZ state income tax rates do not necessarily align with the federal figures. The variable income tax rate for Arizona is determined by AZ state tax legislation. How much income tax that is withheld from your paycheck depends on which tax bracket you fall under. In general the more you make, the more you will be taxed.How Arizona State income tax rates are structuredThere are 5 income tax brackets for Arizona.If your income range is between $0 and $10,000, your tax rate on every dollar of income earned is 2.59%.If your income range is between $10,001 and $25,000, your tax rate on every dollar of income earned is2.88%.If your income range is between $25,001 and $50,000, your tax rate on every dollar of income earned is3.36%.If your income range is between $50,001 and $150,000, your tax rate on every dollar of income earned is4.24%.If your income range is $150,001 and over, your tax rate on every dollar of income earned is 4.54%.Income tax brackets data last updated March 3rd, 2009.
Can you Claim state taxes on federal return?
Yes. And if you pay more in sales taxes than state income taxes, you can use that
Who has to file income taxes in Illinois?
Anyone with any income, or even without an income can file. You are required to file Federal taxes if you made more than $1,800. Illinois requires anyone that earns or receives income in the state to file state taxes.
Are state taxes deductible for federal corporate income taxes?
Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.
True or False The Federal income tax on corpoations generates more revenue than the Federal income tax on individuals?
false
Is the federal income tax proportional progressive or regressive?
The federal income tax is progressive A tax that charges more for higher incomes
What taxes would Puerto Rico have to pay if they became a state?
puerto rico would have more money then what is has now
Can you file tax debt on a chapter 7 bankruptcy State and federal?
No on state taxes, yes on federal income taxes if the filing date or the date on which the IRS determined the tax due is more than 3 years prior to filing.
You withdrew 11000.00 from your 401k and paid a 10 penalty how much more will you owe?
State & Federal income taxes on $11,000 in the year the distribution was taken.
What is income tax spent on?
Federal income taxes fund the federal budget. The federal budget is spent in a variety of ways, from military and defense spending, federal employee salaries, federal buildings, grants to state/local governments for various projects, such as roads and schools, foreign aide as well as everything else the federal government does. Check http://www.gpoaccess.gov/usbudget/ for more info about how/where the federal government spends money.
How is the federal income tax a progressive tax?
The Federal income tax is a progressive tax because the more a person makes in revenue, the more tax they will have to pay. The tax level or percentage is higher for those with a higher income, too.
Income tax withheld from each paycheckand sent to the state or federal government?
You do NOT have any amount that is withheld from your net take home paycheck after it is issued to you. The amount that is withheld is calculated on your gross earnings for the pay period and is a advance payment of your possible future income tax liability. After your income tax return is completed correctly and IF the amount that is withheld is more than your federal or state income liability then you will receive a refund of the over withheld amount.
What percentage of a paycheck is taken out for federal tax in Arizona?
Arizona state income tax along with a federal tax is usually withheld from your paycheck as you receive it each pay cycle. While the federal income tax rates are set for each income bracket, AZ state income tax rates do not necessarily align with the federal figures. The variable income tax rate for Arizona is determined by AZ state tax legislation. How much income tax that is withheld from your paycheck depends on which tax bracket you fall under. In general the more you make, the more you will be taxed.How Arizona State income tax rates are structuredThere are 5 income tax brackets for Arizona.If your income range is between $0 and $10,000, your tax rate on every dollar of income earned is 2.59%.If your income range is between $10,001 and $25,000, your tax rate on every dollar of income earned is2.88%.If your income range is between $25,001 and $50,000, your tax rate on every dollar of income earned is3.36%.If your income range is between $50,001 and $150,000, your tax rate on every dollar of income earned is4.24%.If your income range is $150,001 and over, your tax rate on every dollar of income earned is 4.54%.Income tax brackets data last updated March 3rd, 2009.
