How much is the tax on a pack of cigarettes in California and can you deduct that tax on your taxes?
Are you on drugs? You want the government to give you back the taxes you pay on cigarettes? You realize that the reason the taxes are so high is mainly as a deterrent to smoking, as well as to generate revenue. Why would they give you this money back!!
4 people found this useful
In the San Francisco East Bay (Castro Valley, CA) we pay 8.5 cents on the dollar.
Answer . Well...not exactly. (And as an aside, the medical benefit given to you when you were an employee wasn't taxable). Medical costs, including health insurance (which is what COBRA is) are only deductible to the amount they exceed a fairly large (I believe its 7.5% ) of adjusted gross inc…ome. NOTE: Some States have a much lower threshold for their income tax. ( Full Answer )
Answer . answer:. 1.income from salary is less than is rs.1.5 lacks ----40% of gross salary or 30000/- which ever is lower. 2.income from salary exceeds rs. 1.5 lacks but does not exceeds rs. 5 lacks --- rs.30000/- 3.income from salary exceeds rs. 5 lacks ---- rs. 20000/-
Answer . It depends on the state. For example in California the answer is no yet in Iowa the answer is yes.
It is a term for an amount, whether it be determined by its cost, like a medical expense, or some other method (like a child or dependent person being considered as a specific amount), that is allowed to offset otherwise taxable income.. A Tax Deduction could also be donations:. A church, synagogu…e, or other religious organization; . A war veterans' organization or its post, auxiliary, trust, or foundation organized in the United States or its possessions; . A nonprofit volunteer fire company; . A civil defense organization created under federal, state, or local law (this includes unreimbursed expenses of civil defense volunteers that are directly connected with and solely attributable to their volunteer services); . A domestic fraternal society , operating under the lodge system, but only if the contribution is to be used exclusively for charitable purposes; . A nonprofit cemetery company if the funds are irrevocably dedicated to the perpetual care of the cemetery as a whole and not a particular lot or mausoleum crypt. ( Full Answer )
I can't find the base price before tax, but if you look at the link below it shows federal and state taxes on cigarettes http://en.wikipedia.org/wiki/Cigarette_taxes_in_the_United_States#State_cigarette_tax_rates for example in Texas, the tax would be $1.41 state tax and $1.01 federal tax with a tot…al of $2.42 tax per pack ( Full Answer )
From our Qs I can see you don't understand even the basics of tax. Everones situation is different...and changes. There is no such thing as a deduction for that amount, although you personally may have one for that amount for something.
California no longer collects inheritance tax. This law wasabolished in June of 1982. Any inheritance received is tax free inthis state.
Well yes and no.. Under a recent change in the tax laws, sales or use taxes are deductible under certain rules IF you elect to, and beneficial if they are more than the State income taxes. This equalizes the deductible State taxes for those living places that have no (or small) income taxes.
it depends on the price of the home you purchase. the less the appraised value is, the less you pay in taxes. the higher the more money spent on taxes. its safe to say about 1.25% of your home purchase price is due annually. for example a 169k home purchased would be 2112 bucks per year. payable in …2x payments or one lump sum. of course you can save in installmenst and set aside for the lump payment ;) ( Full Answer )
Obviously, tax isn't deductible from determining the income that is taxable, for the same tax involved. There is no limit to the amounts.. Generally: Federal - State (and city) income taxes and property taxes, (and under a new rule some sales taxes if your in a state without property tax), and of c…ourse a plethora of the payroll type taxes may or may not be currently includable in determing Federal taxable income.. State Income taxes do not allow their own State (and sometimes other States) taxes to be deducted...essentially you add them back to your Federal Taxable Income. They may also consider some things like Unemployment Ins payments (and other payroll taxes) differently than the Feds.. Also generally, to be currently deductible, the tax must have been paid to the jurisdiction, not just what you expect to pay. ( Full Answer )
The property tax in California can vary from year to year. However, to calculate the California property tax for one's home is quite simple. The tax can not exceed more than 1% of the home's value and can not increase more than 2% from the previous year.
Several tens of thousands of pages (maybe more) exist on this topic. No list does, nor is a list possible.
It is, normally, only for business type things. Like trademarks, issued stock, etc and non pyhisical assets used in a State. (Compared to a real & personal property tax which is on physical things).. If appled to an individual I don't think it would be tax deductible on Fed (to a business it's like… any other lisc fee or cost/expense). ( Full Answer )
Those are amounts taken out of your paycheck that do not reduce the amount of tax you have to pay on your salary.
Depending on where you live or where you buy something it is 8%+. Some cities/counties are almost 10% these days.
There are all sorts of taxes in California: income tax sales tax property tax cigarette tax liquor tax estate tax gambling tax and hundreds of others.
You can use the following calculator to determine how much tax will be deducted from your paycheck: http://www.paycheckcity.com/NetPayCalc/netpaycalculator.asp Remember that the amount of income tax deducted depends on how you fill out Form W-4 that you give to your employer. It is not the real… amount of tax you owe. The real amount is calculated when you fill out your tax return at the end of the year. When you fill out and file your tax return, you will get a refund if too much was deducted or you will pay more if not enough was deducted. ( Full Answer )
There are no standard tuition and fee rates for colleges and universities. Each institution will have rates particular to itself. There are a number of variables to consider to include whether the institution is public or private, the geographical location, the specific program of study (some of whi…ch have greater course and/or clinical fees), and whether the school is a two year or four year institution. Once you collect the names of some colleges and universities you have an interest in, you can then research the cost specific to those institutions. ( Full Answer )
80p goes to the shop who cells & 80p goes to the people who manufactuer the product so where does the Â£6 come from for a box of cigarettes?!!
Depending where the car is purchased and registered. Cities, counties have different tax bases. If you purchase a car in Tracy (8.750%) or Tahoe City (8.250%) and registered the car in Pleasanton (9.750%) or Oakland (9.750%) DMV would charge the additional monies.
It depends on how much you are earning. There is a minimum income limit and anyone earning above that predetermined number has to pay taxes. The taxes start with 10% and go up to 30%. There are also many options to reduce taxes legally. You can check the link in the related links section to learn ab…out indian income tax. ( Full Answer )
Under the American Recovery and Reinvestment Act, enacted last month, every person who receives unemployment benefits during 2009 is eligible to exclude the first $2,400 of these benefits when they file their tax return next year.
Medical expenses are deductible up to the amount that they exceed 7.5% of your AGI. If you had an adjusted gross income of $100,000 and your unreimbursed medical expenses were $13,000 than your medical expenses deductible would be $5,500 (13,000 - (100,000 * 7.5%)).
There are a few college expenses that are tax deductible. Tuition up to $4,000 can be deducted. Speak with an accountant for more details.
Not usually. Your monthly assessments -- fees, you write -- pay to operate the community and save money for major repairs.
For contribution to a Traditional IRA Retirement account if that is what this question is about. How Much Can You Deduct? Generally, you can deduct the lesser of:. The contributions to your traditional IRA for the year, or . The general limit (or the spousal IRA limit, if applicable) explained ea…rlier under How Much Can Be Contributed . . However, if you or your spouse was covered by an employer retirement plan, you may not be able to deduct this amount. See Limit if Covered by Employer Plan , later.. You may be able to claim a credit for contributions to your traditional IRA. For more information, see chapter 5 . Go to the IRS gov web site and use the search box for PUBLICATION 590 Individual Retirement Arrangements (IRAs) Click on the below Related Links ( Full Answer )
they are not a deductable amount. You can claim expenses as an executor against the estate funds. However, if you do claim executor expenses against the amount of the estate they are taxed as income for the person claiming them.
You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc they will have to withhold from your hourly pay or gross pay for the pay period. After the withheld amount for all taxes i…s subtracted from your gross wages (earned income) your paycheck will issued for the net amount of your earning (wages). ( Full Answer )
That depends on where you are. Different countries have different tobacco tax rates. In the USA, different states have different rates.
"Tax deductible" generally refers to an expense that can be deducted from your gross income when you file your tax return for the year in which the expense was incurred. For instance, if you spent $1200.00 on a college tuition and $275.00 on books and supplies for that course, you could deduct $147…5.00 from your gross income for the year, thereby lowring your taxable income. If your tax bracket based on your income level was 15%, you would receive $1475 x 15% = $221.25 reduction in the income tax you pay for that year. Presuming that the tax was already deducted by your emplolyer (as would normally be the case), you would then receive a tax refund of $221.25 for that particular tax-deductible item. ( Full Answer )
A deduction reduces the amount of income that is subject to tax, and a credit represents a direct reduction in the amount of tax liability
Gifts for 501c3 non profit organizations and charities are generally tax deductible. ALWAYS consult with tax professional if unsure of the written instruction given on the tax forms or IRS web site.
You need to consult an accountant who knows the law in the county in which you are paying tax. However in general contributions made to a pension plan out of earnings are tax free, while pension taken out of a pension pot are subject to tax. ans In the US, contributions in to certain sa…vings plans (generally normal (not ROTH) IRAs, or 401k plans through an employer are not considered taxable income the year they are made (they reduce your taxable income that year). Restrictions and limits of various types apply to both who may use which specific account, and how much it may be used. The money invested while in these accounts is also NOT taxable as earned. On withdrawal it is taxable as ordinary income, (so your investment gains do not get the benefit of the current very reduced tax rate on capital gains). There are number of rules about when you MUST start taking the (taxable) distributions by, and a calculation called a "required minimum distribution", and RMD that is the minimum amount you must withdraw each year thereafter. Generally, withdrawing any money before the minimum withdrawal age incurs a substantial penalty along with being taxable income in that year. ( Full Answer )
No. If you get a tax credit of $100, you pay $100 less than you would without it. If you get a tax deduction of $100, you save the amount of tax on $100 that you would otherwise have paid (probably about $25).
No, we bought our Prius Feb. 3rd 2012. No deduction for this Hybrid, only state sales tax. And any car gets that.
You cannot deduct withheld federal taxes on your federal income tax return. There are some states that allow the deduction of withheld federal taxes on the state income tax return.
Only if you are a professional massage therapist and have abusiness license, then you can write that off as an expense. Youwill have to include that on the Schedule C report.
Sales Tax on cigarettes depends on what country you're in and which State you're in within the United States. The US I think had a Federal Tax, but States can also set their own tax.
There are income requirements and deduction requirements you have to meet before you can deduct donations.
probably the US. and how you may ask well just have a small walk around L.A
Many taxes are deducted from your paycheck, but sales tax is not one of them. Sales taxes are collected by a merchant at the point of purchase of most goods and some services. The merchant remits the sales taxes to the state on your behalf. Occasionally, you many not pay sales taxes at the time of p…urchase, as in when you make a purchase online from a merchant in another state. In those cases, you would owe a use tax to your state which is usually paid when filling out your annual state income tax return. ( Full Answer )
The most common tax deductions in the United States are on charitable donations, mortgage interest, income tax, real estate tax and dental and medical costs.
There are many different types of tax deductibles. Some tax deductible things include apartment rent, charity donations, work supplies, and property taxes.
Insurance for one's personal property such as auto or homeowner's insurance is tax deductible. Other tax deductible insurances are medical and dental insurances.
A tax Id number is used to identify a business entity. Usually all businesses need a federal tax ID number. In California, you have to go to the IRS website and fill out the forms required to get tax ID number. These forms are free.
Charitable donations are tax deductible since the organizations involved are non-profit. That means the company does not make a profit so there is nothing for a charitable organization to claim on a tax return.
There is no "tax deduction on a new truck." If you use the truckfor business, you may be able to deduct part of the cost as abusiness expense. This is complicated enough that you shouldprobably talk to a CPA or Enrolled Agent (somebody who preparestaxes for a living).
Employee income tax (such as PAYE) and other government imposed deductions from dividends, salaries, wages, and other incomes. Withholding taxes are levied at the point of disbursement of incomes, and are passed on to the government by the entities collecting them.
The California sales tax rate is currently 6.25% . However,California adds a mandatory local rate of 1.25% that increases thetotal state sales and use tax base to 7.5%. Depending on localmunicipalities, the total tax rate can be as high at 10.0%.