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13y ago

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An amount of income that is not included in your gross income is known as what?

Income tax exempt INTEREST INCOME but the amount that is exempt from income tax does have to be reported on your income tax return and is used in the calculations to determine if any amount of any social security benefits that you receive will become taxable income on your 1040 income tax return.


How is a tax-exempt bond different from a bond sold by a company?

A tax exempt bond is issued by a municipality. The tax exempt status is not a property of the bond itself but is a result of tax legislation regarding municipal bond interest as being tax exempt. The interest rates on the bonds (the amount paid to the bond holder) are usually lower than on corporate bonds but because of the tax exempt status the lower rate may or may not result in a higher after tax yield depending on the rates of the two bonds and the tax bracket of the bond holder.


Not tax exempt do i tax this?

Not tax exempt would mean that it is subject to taxes. Yes you would tax any thing that is not exempt from taxes in your business operation.


Is insulation tax exempt?

NO. Insulation material is not exempt from income tax.


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.


When were tax-exempt MMMFs created?

Tax-exempt MMMFs debuted in 1979


What are the IRS Tax exempt codes?

IRS tax exempt codes are codes that are given to businesses that are tax exempt. These businesses include non-profit organizations.


Are computers tax exempt under the Virginia tax holiday?

No, only items under $100 dollars are exempt in VA's tax exempt holidays. I wish they were!


What age are you exempt from filing Income Tax?

You are not exempt from filing for Income taxes based on age. You are exempt from filing taxes based on the income you receive. If your income is over a certain amount you must file.


How do you exempt tax refunds?

Exempt them from tax? Federal refunds were paid with after tax $ and aren't taxable..but they are reported. State ones are, as you got a deduction for them when paid. There is no option to exempt them.


When are municipal bonds exempt from taxes?

Municipal Bonds are bonds that are tax exempt from many tax offices. Municipal Bonds are exempt from tax when they are accepted by the local tax office depending on the law of the state.


What is meant with tax exempt form in finances?

Sales tax exempt forms are for individuals or companies that are exempt from sales tax. This could be if you run a charitable, educational or other organizations.