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yeah, thatd be estate taxes
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Where can one find deferred tax assets?
Deferred tax assets are when its determined that the company will have positive accounting income during the fiscal period. After that, the deferred tax assets can be applied.
Define tax and explain its various types?
Tax is a compulsory payment imposed by government on every citizen of a country.Every one have to pay different taxes to government.there are two basic type of taxes.1=Direct tax.2=Indirect tax.(Direct Tax)Taxes imposed and collected by the same person,are called direct taxes e.g. Income tax,property tax,wealth tax.(Indirect Tax)Taxes imposed on one person but collected by some other person are called indirect taxes e.g. Sales tax,Central excise duty.
What is difference between direct tax and indirect tax?
the difference between a direct tax is one that must be paid directly to the government by the person on whom it is imposed and indirect tax is one first paid by one person but then passed on to another.
A serverance tax is imposed when?
A serverance tax is imposed on people who make up or mispell words in contexts that make it impossible to understand what is actually going on. It is another layer of obfuscation whose application is enjoyed especially by lawyers. Not to be confused with servance or severance, only one of which is actually a word.
Do you have to pay capital gains tax on property inherited from a trust?
No. Capital gain tax is a tax that is assessed when an asset is sold. The passing of an asset by inheritance (one received by the laws of intestacy when a decedent dies without a will) or an asset distributed from a trust does not constitute a sale; thus, the tax is not triggered. The tax is triggered when the property, inherited from a decedent or as a distribution from the trust, is sold. Assets owned by a decedent (or his revocable trust) get a new basis when the decedent dies, equal to the asset's value as of the date of death. If you sell the asset for more than the basis, then the tax is payable on the sale price, minus the basis. On the other hand, if an asset is owned by a trust, is sold by the trust, and proceeds are received by the trust, the trust must pay the capital gain tax.
Where can one find deferred tax assets?
Deferred tax assets are when its determined that the company will have positive accounting income during the fiscal period. After that, the deferred tax assets can be applied.
What is the percentage of the retail price imposed as a tax?
One of the criteria that makes a tax fair
What is Personal Tax?
A personal tax is a direct tax levied on a taxpayer. One example of a personal tax is the tax imposed on the income of a person.
Define tax and explain its various types?
Tax is a compulsory payment imposed by government on every citizen of a country.Every one have to pay different taxes to government.there are two basic type of taxes.1=Direct tax.2=Indirect tax.(Direct Tax)Taxes imposed and collected by the same person,are called direct taxes e.g. Income tax,property tax,wealth tax.(Indirect Tax)Taxes imposed on one person but collected by some other person are called indirect taxes e.g. Sales tax,Central excise duty.
What is difference between direct tax and indirect tax?
the difference between a direct tax is one that must be paid directly to the government by the person on whom it is imposed and indirect tax is one first paid by one person but then passed on to another.
Retaliatory tariff is?
A retaliatory tariff is a tax that is imposed by one country because Another Country increased their tax rate. This is an act that is done in retaliation.
A person appoints a child as executor of the estate. is executor of estate required to list assets after that person dies?
That is one of the duties of the executor. They have to inventory the assets and debts of the estate. Then they will be able to liquidate the debts and distribute the assets.
How much is too much credit debt?
Three times your yearly (after tax) income would be a reasonably safe debt level if you own assets. If you have no assets, you should owe no more than one years after tax income.
A serverance tax is imposed when?
A serverance tax is imposed on people who make up or mispell words in contexts that make it impossible to understand what is actually going on. It is another layer of obfuscation whose application is enjoyed especially by lawyers. Not to be confused with servance or severance, only one of which is actually a word.
Which is the purpose of a retaliatory tariff?
A retaliatory tariff is a tax that is imposed by one country because another country increased their tax rate. This is an act that is done in retaliation.
When a couple die within hours of each other does the will still stand?
# Based on if they are a married couple:If both have wills............Both wills are valid if they each have one. The first person to dies will is followed then the other persons.If only one of them has a will..............If the one with the will dies first, that will is followed and then state law is followed after the second person dies. If the person without the will dies first, generally all their assets go to their spouse. Then when the second one dies the will is followed.Not married couple:If each one has a will, then the wills are followed separately with the will of the first decedent taking precedence, which is important because they may have left assets to the one that died second.If one does not have a will, state law is used for that person and the will for the other.
What Is an example of a tax imposed by a local government with the purpose of taxing out of town visitors?
One frequently used tax is known as a "crash tax" which is aimed at out of town visitors who cause vehicle crashes. These visitors are charged for the response of emergency crews.
