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It ultimately depends on the state. Most of them are not regulated and they can operate just as a normal business does. They still have to pay taxes and everything but have no other real regulations on them.

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15y ago

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What does NA mean after a bank's name?

N.A. is an abbreviation for National Association. It denotes a bank that is federally chartered (as opposed to state chartered) and is regulated by the Office of the Comptroller of the Currency (OCC).


What are the funtion's of accounting?

To gather data on cash in and cash out and produce reports that inform the management of their state of business. To ascertain areas where cash is taxable / non taxable and to make,advise and ensure regulated fiances are paid in accordance with governmental requirements


How are business transactions regulated?

Business transactions, including credit transactions, are regulated by the Uniform Commercial Code (UCC). The UCC is a standardized commercial law effective in most U.S. jurisdictions whose goal is to simplify interactions between businesses


Why would a collection agency report a higher amount owed?

Te balance owed on a defaulted account will continue to accrue interest and penalty charges until a settlement of some sort is made. The interest charges and any applicable fees are regulated by state law where the debtor resides or in some cases the state where the contract was made. Not to be overlooked is the fact that many of the amounts reported by collection agencies are based on incorrect and unenforceable interest and fees. Do not hesitate to request an accounting of these amounts. Do not expect cooperation without effort.


Why do state taxes vary from state to state?

States taxes vary from state to state as each state has its own state parliament. Each state has varying tax powers they can enforce, considering each state has different level of employment and gdp output the level of taxation will vary from state to state to match the economic level.