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The tax that requires individuals to pay a minimum of 20 percent is known as the Alternative Minimum Tax (AMT). The AMT is designed to ensure that high-income earners pay at least a minimum level of tax by limiting certain deductions and credits. This tax applies to individuals and corporations who exceed certain income thresholds, effectively creating a parallel tax system.
What else can I help you with?
How many people pay income taxes in California?
35 percent
Percentage of gratuity?
The percentage of gratuity can vary in different parts of the country. Many people pay a 15 percent gratuity while in bigger cites people pay 20 or 25 percent. Unless a restaurant adds the gratuity to the bill, it is the choice of the customer as to what they pay.
Is there a minimum amount in payroll that you pay fica?
No minimum...from first $. There is a maximum per person.
What is the minimum income required to pay taxes?
$100.00
How much do Alabamas pay on taxes?
People in Alabama pays 1.6 percent in taxes. This can all depend if you are self employed.
Terrance's previous credit card balance was 65.19 Because his balance was under 100 the minimum amount he has to pay is 5 percent What is the minimum amount Terrance will need to pay?
3.26
If your credit card balance is 1150 and the minimum monthly payment required is 3 percent What is the minimum amount you must pay this month?
34.50
In Nevada it is mandatory that video slot machines pay a minimum of how much percent on average?
75%
How long will it take to pay off 1000 dollars if you pay the minimum of 35 dollars at 18 percent interest rate?
10
How much a photocopier get pay?
Very little, normally a few percent more than minimum wage.
How many years will it take to pay 2000.00 with 18 percent interest on 2 percent minimum payment?
It is possible for the sum to never be paid back.
If your credit card balance is 1150 and the minimum monthly payment is 3 percent what is the minimum amount you must pay?
$1150.00 X 3% = $34.50 minimum payment or $1150.00 X .03 = $34.50 minimum payment
What would be a progressive tax?
people earning 35000 pay 10 percent tax, while people earning 100000 pay 30 percent tax
Which of the following would be a progressive tax?
People earning $35,000 pay 10 percent tax, while people earning $100,000 pay 30 percent tax.
A tax that requires each person to pay 3 percent regardless of income is a tax.?
proportional tax or flat tax
How many people pay income taxes in California?
35 percent
What is the legal minimum pay per hour in England?
For all those people who are aged above 21years age the legal minimum pay per hour is 5.93 Pounds. It came into effect from 01October2010.
