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tax revenue
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∙ 13y ago
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Are county governments allowed to tax?
Yes, county governments allowed to tax.
What is the tax benefit of a car donation?
Not everyone can get a tax benefit and if you do the amount can vary.
How can the federal and state governments both have the power to tax?
The Federal and state governments both have the power to tax because they each have separate expenses in a budget. State governments tax to help pay for state programs. Federal governments tax to help pay for Federal programs.
What is the largest source of tax money for local governments?
income tax :]
How do state governments tax consumers and vendors?
A primary way state governments tax consumers is with a sales tax. Vendors don't pay this tax on the goods they sell but they collect it from customers. They also use income tax and property tax but these are not consumption taxes
Why do governments have an inheritent tax?
Inheritance taxes, as with other taxes such as income and sales tax, is a way for the government to get revenues that can be used for various expenses that are incurred by the government for the benefit of its citizens.
Whether unrecognized tax benefits is a tax portion?
An unrecognized tax benefit is the difference between the tax benefit reflected on the income tax return and the amount of the benefit recorded on the financial statements. Example: taxpayer deducts $100 on its return but believes that a $60 deduction will be the most likely outcome in a negotiated resolution with the IRS on audit. The $40 difference is the unrecognized tax benefit.
Is a income tax benefit account a contra account of income tax expense?
The answer is no.A contra account to the "Income Tax Benefit (Deferred)" would be a "Income Tax Charge (Deferred)".
What is the property tax that raises the most revenue for local governments?
personal income tax
Are the county governments in the US allowed to tax?
true
Which governments have the power to tax people?
The feredal government
Who is responsible for collecting the property tax?
County Governments
