It means the tax year that immediately follows.
Individuals are calendar year filers, so here's an example: You have a tax credit on your 2010 tax return that you couldn't fully use because it was more than your tax liability, but it can by carried forward to the next succeeding tax year. Therefore you can claim the unused amount as a tax credit on your 2011 tax return.
Tax before credits = $500
Nonrefundable business credit = $800
Tax = $0
$300 of the credit wasn't used & it's a credit you're allowed to carry forward, then you can use the remaining $300 of unused credit in the next year.
There is usually a limit to how many years you can carry a credit forward before it is lost (unusable). If you have several years of business losses, you may end up with tax credits you never use.
That is because most if not all country's tax collectors will want the tax within the next financial period. The definition between current and non current is the time when they fall due with current being within the year and non current after a year.
Tax credits are credits that individuals or companies may be entitled to at the end of the tax year. These credits may include moving credits, college tax credits, or child care tax credits. One popular credit for families is the Earned Income Tax Credit, which offers a sizeable credit for families or single parents of children.
James & Alley (2004:29) describe tax compliance as the extent to which taxpayers comply with tax law.
Turnover is not defined in Income Tax Act.Correct me if i am wrong.
I know taxas in missouri a year behind so our tax year is 2011
succeeding or future generations collectively
Local Property Tax is not due, but there is a State Tax owed regardless if purchased from individual or dealership "Arizona's vehicle tax applies to the vehicle's "taxable value," which is 60% of the manufacturer's base retail price for the first year after initial registration. This value decreases by 16.25% for each succeeding year. For the first year, the tax is $2.80 for each $100 in value."
reduces the amount of interest expense each succeeding year
10th day of succeeding month.... Nav
definition of tax nation
A Federal Tax Refund is when the Government pays you back money it has technically borrowed from you during the previous year without paying you interest.
A tax the state creates and collects.
That is because most if not all country's tax collectors will want the tax within the next financial period. The definition between current and non current is the time when they fall due with current being within the year and non current after a year.
A succeeding lease is one that immediately follows the expiration date of the existing lease. In other words, if a person leases an office suite on a yearly basis, and continues to renew the release, it will become a succeeding lease, and go into effect the day after the expiration date on the original lease.
As per the Tamil Nadu Value Added Tax Act 2006 and Tamil Nadu Value Added Tax Rules 2007, the last date for filing of TNVAT returns is 20th day of the succeeding month and in respect of dealers whose turnover is above 200 Crores and doing e-payment the last date for filing of returns is 14th day of the succeeding month. The last date for filing of Annual Value Added Tax Return is the 20th May of the succeeding year. This reply will be applicable in Tamil Nadu.Reply From:ABHIVIRTHI Tax and Industrial ConsultancyR.R.JAGADEESANVAT PRACTITIONER AND INDUSTRIAL CONSULTANTH-63, Palaami Enclave, New Natham Road,Madurai-625014.Cell: 9994990599Read more: What_is_the_due_date_of_filing_return_of_VAT
a uniform tax imposed on each person
It is the tax which is levied on the value of goods or services which are sold.