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Items that a business buys with the intention of reselling them are exempt from sales taxes. However, the business has to charge sales tax when it does resell that item.
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What are tax benefits of a farm?
The fact that expenses are deducted, many items are exempt from sales tax and really the fact that it is very difficult to make any money at it.
What is a feature where the federal government does not tax interest paid to investors?
Tax-exempt
What is an example of an investment account where the interest earned is tax-exempt?
There are several options that offer tax-exemptions on the federal level but not always on the state or local level. One example of an option that allows interest to be tax-exempt are municipal bonds. Tax laws vary by state so the tax-exemption may be void for a resident purchasing a bond in another state.
Can life insurance be tax deferred?
Life insurance proceeds are tax exempt (except in rare circumstances). There is no need to defer taxation.
Is a cricket Club a business?
It is an association of people who enjoy playing the game cricket. Such clubs may be registered as non-profit and tax exempt entities. Larger sized clubs may have a club house where they are lisenced to serve alcohol, may have a restaurant and have other business type services there.
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.
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!
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.
What is a statutory exemption?
An exemption is something that is excluded. In taxes, there are various tax exemptions and types of income that are exempt from tax. There are also certain types of organizations that are exempt from tax.
Can you open a profitable business on tax-exempt property?
Generally not...loses exemption if not used for the exempt purpose
When is MA tax free weekend?
MA sales tax free day for certain items is August 14 and 15 2010. You can find a list of items that are exempt from sales tax at the MASS gov website and use the search box for A Guide to Sales and Use Tax then choose Tax-Exempt Items mass.gov/?
Are a Tax ein number and a tax exempt number the samething?
NO - a tax EIN number is an Employer Identification Number. This is like a Social Security Number of sorts for a business. If a business is Incoporated and/or has employees this number identifies the business as such and is the number the payroll taxes are filed under. It has nothing to do with the tax exempt status.
If you are a church is mandatory to obtain a tax free status from the government?
No, not at all. In fact, many are denied tax exempt status. (And even if tax exempt...that pertains to only certain activities...with some minor exclusions -normal "business" done by a church (or any exempt) is taxable pretty much like a normal business.
What is excluded from tax free day in ma 2010?
There does not appear to be any scheduled tax free day in Ma. At this time August 5 2010. You can find a list of items that are exempt from sales tax at the MASS gov website and use the search box for A Guide to Sales and Use Tax then choose Tax-Exempt Items. http://www.mass.gov/?
What types of items do you not pay sales tax on?
Food items
What type of diesel should you use in 02 2.2dci?
there are two types of diesel, the standard daily driver kind and the commercial tax exempt kind. if you are running tax exempt diesel you will be fined.
where to buy tax exempt bonds?
You need to first do some research on the different types of tax exempt municipal bonds. Here is a website that can help with this: www.investinginbonds.com/learnmore.asp?catid=8&subcatid
