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In the UK it is known as "Income Tax".
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∙ 8y ago
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Do corporate earnings have tax returns?
Corporate earnings don't have tax returns. But corporation that earn (and even those that lose money) do have to file tax returns to report their earnings (or losses).
Tax that takes a percentage of a person's earnings?
Income Tax
Formulla for retained earnings?
retained earnings=profit after tax- dividend distribution
Are interest earnings from municipal bonds tax exempt?
No, interest earnings from municipal bonds are not tax exempt at the federal or state level.
Why Auditors prefer to use before tax net earnings instead of after tax net earnings?
Most auditors prefer to use before-tax net earnings instead of after-tax net earnings when calculating materiality based on income statement chiefly because it eliminates the impact of external influences (ie. Changes in tax laws, changes in the tax rates etc.) that could have a significant impact on a company`s net earnings and subsequently the net income materiality base.
What is the importance of financial cost ratio?
Earnings Before Tax / Earnings Before Interest and Tax It provides a comparative measure of the cost of debt.
What tax line do you use for retained earnings?
Retained earnings is not a tax line issue. The only place on a tax return that retained earnings would be placed is on the balance sheet if you are required to include a balance sheet with your return. Retained earnings is an account used to show the ongoing profits and losses in a business and to process the year end accounting.
Tax takes the same percentage of income from everyone regardless of their earnings?
Fair tax
What is a individuals income tax?
An individuals income tax is the tax the government will take from one person's annual income.The amount of tax will vary depending on the total earnings during the tax year.The tax will also vary depending on the tax rate set by the country's government in which individuals the earnings were made.
What is individual income tax?
An individuals income tax is the tax the government will take from one person's annual income.The amount of tax will vary depending on the total earnings during the tax year.The tax will also vary depending on the tax rate set by the country's government in which individuals the earnings were made.
What law introduced a version of the modern income tax on personal earnings?
The Sixteenth Amendment was the "law" that introduced a version of the modern income tax on personal earnings. :D
What is California Aggregate Disposable Earnings?
California Aggregate Disposable Earnings are the mandatory withholdings (listed below) that are deducted from the gross earnings first. Then the child support is computed on the balance, (this is the disposable earnings) not to exceed 50% of the disposable earnings. Federal mandatory withholdings are: Federal Tax withheld, State tax withheld, Retirement, Social Security tax, Medicare tax, State Disability Insurance, Union dues if required to be employed and any administration fees charged to disburse the garnishments.
