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What else can I help you with?
Do you owe Michigan tax on the sale of inherited property?
I'm not absolutely sure with the State of Michigan but the Federal income tax, you are required to show income on property sold whether or not the property was inherited. It may also be different based on what kind of property you are talking about. The taxes may differ when you have real property like a home or other property like bank accounts, stock, insurance proceeds, etc. I would suggest that you have a professional prepare your taxes in a situation like this.
A tax on real estate or personal property?
Property tax
What is the major difference between property tax and profit tax?
Property taxes are assessed based on the value of the property in question. This is also referred as ad valorem tax. The owner of the property does not sell or transfer the property in question and the tax is usually assessed every year. Profit tax is a tax assessed based on the transfer of property or a commodity.
Does Michigan have an inheritance tax?
No Michigan does not have an inheritance tax. Only 11 states do have one enacted. Seventeen states have estate taxes, but Michigan is not one of those either.
What does the abbreviation tr mean on property tax?
The abbreviation "TR" on property tax statements typically stands for "Tax Rate." It indicates the rate at which property is taxed based on its assessed value. This rate is crucial for determining the total amount of property tax owed by the property owner.
What is the tax on rental property in Michigan?
Rental property tax is Michigan is relatively high. For a $120000 it is around $7000.
Can you give or tell some slogans on public property?
You work, you earn you pay tax, tax create public property damage public property, damage your own income.
What has the author David Zin written?
David Zin has written: 'The Michigan intangibles tax, 1992-1993' -- subject(s): Taxation, Tax returns, Intangible property
Do you owe Michigan tax on the sale of inherited property?
I'm not absolutely sure with the State of Michigan but the Federal income tax, you are required to show income on property sold whether or not the property was inherited. It may also be different based on what kind of property you are talking about. The taxes may differ when you have real property like a home or other property like bank accounts, stock, insurance proceeds, etc. I would suggest that you have a professional prepare your taxes in a situation like this.
Is your property in Michigan exempt if you do not pay your mortgage in Florida?
Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.
A tax on real estate or personal property?
Property tax
What has the author Abram P Snyder written?
Abram P. Snyder has written: '1968 value of taxable property in Michigan' -- subject(s): Real property tax, Statistics
Is property tax considered a direct tax?
property tax is considered as direct tax effect of property tax directly falls to the owner.
A tax on the ownership of land or buildings is what type of tax?
Generally, in the United States, that type of tax is a property tax.Generally, in the United States, that type of tax is a property tax.Generally, in the United States, that type of tax is a property tax.Generally, in the United States, that type of tax is a property tax.
Is there tax on restaurant food in Michigan?
Yes, there is a 6 sales tax on restaurant food in Michigan.
Is property tax direct or indirect tax?
A property tax (or millage tax) is levied on the value of property, an ad valorem tax that the owner is required to pay. It is a direct tax.
Are vehicle registration fees Michigan State tax deductible?
Yes, vehicle registration fees are tax deductible as they are considered a tax on personal property. However if the car was made before 1984, the registration fees may not be deductible.
