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By using the term withhold, I suspect your intending to ask what Cos withhold employees income tax from pay. It doesn't have to be a company, officially, in any way. Any pay to an employee (rather than to someone who works as an independent contractor - which in itself requires certain things be maintained - MUST have withholding (and the matching FICA contrbutions, etc) by the employer. So, for example, if you employ a nanny, or an elderly person a caretaker on your own, as many do, you must provide payroll withholding and reporting.
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Is a LC small business tax exempt?
LC business be TAX EXEMPT NO NOT POSSIBLE FOR ANY TYPE OF LC BUSINESS TO BE TAX EXEMPT.
Can you get a tax refund if you didn't work?
NOT for any of the current tax years you would have to have some type of earned income that you worked for in order to qualify for any of the available tax credits for the tax year 2009.
What is PAYG tax?
Although PAYG (Pay As You Go) is called a "withholding tax," it is not a tax but a procedure for withholding projected income tax liabilities as money is earned. Under that plan, the taxpayer prepays taxes in installments, usually paycheck-by-paycheck. In the U.S., prepaying federal income taxes began in 1943, when tax legislation created the first federal requirements for the payroll withholding "tax" and for estimated tax payments. The term is the common one in Australia for the employers responsibility to employees.Pay As You Go (PAYG) withholding is a legal requirement to withhold amounts for income tax purposes. If you have employees, you're required to withhold tax from payments you make to them. You may have to withhold tax from payments to other workers, such as contract workers. As a new employer, you must register with the Tax Office before you withhold from payments to your employees. You may also need to withhold an amount from payments to other businesses if they don't quote their ABN to you on an invoice or other document if required.
How does a financial institution determine when to withhold tax on investment income?
A financial institution will determine if it should withhold tax on a investment if it receives notification from the IRS to do so. Once a social security number or tax payer identification number is provided, the IRS is notified to verify no withholding is required.
What form do employers use to determine how much tax to withhold?
IRS Form W4.
What type of business needs to pay tax and what type of business do not need to pay tax?
you pay from your job money
I want to close my 401k and withdraw everything except any taxes and penalties I am required to pay. How can I do this?
You can specify that they withhold the federal tax from your withdrawl amount, but at tax time you will have to pay the MS state tax, and if your under 59 1/2 you will have to pay the 10% early withdrawl penalty, unless you qualify for a full or partial hardship exception. Your tax preparer can discuss this with you and tell you if you qualify for this or not.
Is a LC small business tax exempt?
LC business be TAX EXEMPT NO NOT POSSIBLE FOR ANY TYPE OF LC BUSINESS TO BE TAX EXEMPT.
Who has the ability to withhold your state tax refund from you?
Government
How does an Illinois business pay the income tax for its Indiana employees?
Indiana does not have a reciprocal tax agreement with Illinois. If these employees are working in Illinois, they are not exempt from Illinois income tax or Illinois withholding. You must withhold Illinois tax from them just the same as you would from an Illinois resident. If you have have employees who are working in Indiana for you, you must withhold Indiana tax. You may also withhold Indiana tax as a service for your Indiana-resident employees working in Illinois (in addition to the Illinois tax) if they request. You must register with the Indiana DOR as a withholding agent using Form BT-1. See: http://www.in.gov/dor/3988.htm
Can I receive financial aid in college if my father owns a business but does not have an income?
Fill out the FAFSA form using your parents' tax returns and try. Their tax bracket will determine what you qualify for.
Can you get a tax refund if you didn't work?
NOT for any of the current tax years you would have to have some type of earned income that you worked for in order to qualify for any of the available tax credits for the tax year 2009.
Does every business pay into unemployment?
No. Some businesses are exempt from paying the payroll tax, but each state determines which ones qualify.
What type of tax is paid directly to the government by the person or business entity on what it is imposed?
direct tax
What is PAYG tax?
Although PAYG (Pay As You Go) is called a "withholding tax," it is not a tax but a procedure for withholding projected income tax liabilities as money is earned. Under that plan, the taxpayer prepays taxes in installments, usually paycheck-by-paycheck. In the U.S., prepaying federal income taxes began in 1943, when tax legislation created the first federal requirements for the payroll withholding "tax" and for estimated tax payments. The term is the common one in Australia for the employers responsibility to employees.Pay As You Go (PAYG) withholding is a legal requirement to withhold amounts for income tax purposes. If you have employees, you're required to withhold tax from payments you make to them. You may have to withhold tax from payments to other workers, such as contract workers. As a new employer, you must register with the Tax Office before you withhold from payments to your employees. You may also need to withhold an amount from payments to other businesses if they don't quote their ABN to you on an invoice or other document if required.
Would my business qualify for free federal taxes?
Your business may very well qualify for free federal taxes. The government has free federal tax incentives in place to help big and small businesses grow. This stimulates the economy and is good for every one.
Which type of business tax attorney can assist in setting up a small business?
In short an experienced business tax attorney would be the way to go if you're planning on starting a small business. An experienced business tax attorney can find and get you excellent tax breaks and spot loopholes that an inexperienced attorney would not be able to do.
