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Are federal corporate income taxes deductible for state income taxes?
In general, states do not allow a deduction for federal income taxes as most states "piggyback" off of federal taxable income as the beginning of the state income tax calculation. However, the states of Alabama , Iowa , Louisiana , and Missouri have variations of state taxable income that allows for some potential deduction for federal income taxes. Each of these four states has its own unique methodology for the deduction and each place certain restrictions on the ability to take the deduction.
Do student grants have to be reported on income taxes?
ususally that would be no as financial aid is not considered taxable income
Is there a Federal deduction for state back tax payments?
State income taxes are deductible from Federal taxable income in the year they are paid, regardless of when they were due.
Does a person drawing workers comp have to file taxes?
If worker's compensation is your only income for you and your family then no you don't have to file taxes. Worker's Compensation is not taxable on Federal Income Taxes.
DO you file taxes if you get state aid?
Yes when you have taxable income you would file a federal and state income tax return.
Do you have to pay federal taxes?
If you have taxable income, yes.
What is taxable income, and where can I find it ?
Taxable income is the income your taxes are based on in your federal and state income tax returns. This website explains it. en.wikipedia.org/wiki/Taxable_income
Is money inherited from a parent's estate taxable?
No, inheritances are not subject to federal income taxes.
How old do you have to be to file income taxes?
Age is NOT one of the requirements of when you must file 1040 federal income tax return. As long as your are still breathing and have the required taxable income amounts you will be required to file a 1040 federal income tax return and pay any income taxes that may be due on the taxable amount of your income.
Are federal corporate income taxes deductible for state income taxes?
In general, states do not allow a deduction for federal income taxes as most states "piggyback" off of federal taxable income as the beginning of the state income tax calculation. However, the states of Alabama , Iowa , Louisiana , and Missouri have variations of state taxable income that allows for some potential deduction for federal income taxes. Each of these four states has its own unique methodology for the deduction and each place certain restrictions on the ability to take the deduction.
Do student grants have to be reported on income taxes?
ususally that would be no as financial aid is not considered taxable income
Is there a Federal deduction for state back tax payments?
State income taxes are deductible from Federal taxable income in the year they are paid, regardless of when they were due.
Do new citizens have to pay taxes before they are legally considered a citizen?
Because this is in the US Constitution section, I'm going to assume you're referring to the United States. Yes, any income earned in the US (or it's territories), is taxable by the Federal Government. If the state the income was earned in taxes income, it will be taxable there as well.
DO you file taxes if you get state aid?
Yes when you have taxable income you would file a federal and state income tax return.
Does a person drawing workers comp have to file taxes?
If worker's compensation is your only income for you and your family then no you don't have to file taxes. Worker's Compensation is not taxable on Federal Income Taxes.
What kind of form do you feel out for taxes if you want to withhold federal taxes out of your ssi?
Social Security Supplemental Income (SSI) is not taxable; therefore, there is no method for withholding income taxes from it. To have Federal income taxes withheld from Social Security Benefits: http://www.ssa.gov/taxwithhold.html
Do you pay taxes on workers comp settlement in La?
Workers Compensation benefits are completely non-taxable for federal income taxes.
