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If you owe taxes on another business that is close and open a new business can the IRS put a levy on the new business?
Wiki User
∙ 14y ago
I don't see how they could go after the new business but, depending on how the old biz was structured, they might be able to come right after you....which for a lot of small business owners would amount to the same thing (as the IRS going after the new business). If the old business was a Sole Proprietorship, best to make the new business a "C" Corp.
Wiki User
∙ 14y ago
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Can the government levy taxes on churches?
The government cannot levy taxes on churches. Churches do not have to pay taxes to the government; they are tax exempt.
What are the different types of tax levy that small business owners should be aware of?
Small business owners need to be wary of taxes and both the state and federal levels. The majority of taxes are based on the amount of income generated by the business.
What two levels of government can levy taxes?
State and FederalThere are far more than two levels of government that can levy taxes. Several different Government Agencies can also levy taxes. Federal, State, and Cities, are some of the levels that can levy income taxes alone.
What does it mean to levy taxes?
To apply taxes. To have taxes on certain goods.
What branch can levy taxes?
The Internal Revenue Service can levy taxes on people and organizations. In fact, as a citizen you are expected to pay taxes for your entire life.
How do you use the word LEVY in a sentence?
Levy further taxes at risk! Levy could be a family name.
The president has the power to levy taxes?
Only Congress can levy taxes. The President, through the IRS (a branch of the Treasury Dept.) collects the taxes.
Can the president levy taxes?
yes
Which branch levy taxes?
Legislative
Which levels of government can levy taxes?
Most levels of government have the ability to levy taxes of one kind or another. This would depend on the laws and regulations of the government you are referring to and the supervising government entity over them. Generally the power is at some time approved by vote of the people in one form or another.
What is the meaning of levy taxation?
The word 'levy' means to raise (from the French verb) thus to 'levy taxes' is to raise taxes - or make the people pay tax.Strictly 'levy taxation' is incorrect use of English as 'taxation' is the process of rasing taxes' and levy 'taxation' (rather than 'tax') would read 'raise raise tax'.
Can a State collect a tax levy in another state for taxes?
False; Congress cannot levy an export tax or duty (sometimes called a tariff) on goods sent out of any state.
