I believe so.
AnswerNo - even if you work in only one state your State taxable (or gross) income will virtually never equal your Federal taxable (or gross)income. For many reasons. Like State tax is deductible from Federal, but not from itself! Some contributions or types of income too, (like retirement plans, some types of SUI, FICA, etc.), are deductible for one of the taxes, not the other. Etc.
In the multi state sceanario you mention - also consider - if you had income in 3 States...one of which doesn't even have an income tax. Hence, no State Taxable income. The remaining two incomes better not equal your Federal.
The taxable amounts of the income from each income tax return will be taxed at the tax rates for the state and for the federal.
No As a general rule of thumb, any benefit from a personal life insurance policy is not taxable. However, any interest or investment gains earned on the future growth will be taxable.
yes
Allen earns 2880 monthly calculate his deductions and his monthly net income ei 1.73 cpp 4.95 taxable income income tax deducted 22.5 net income
Service Tax is an indirect tax imposed in India on a wide range of specified services (custom house agent, dry cleaning, telephone, tour operators, etc.). As an indirect tax, the service provider pays the tax and recovers the amount from the recipient of the taxable service. The main Service Tax form is Form G.A.R. 7. All Service Tax forms are required to be filed even if no taxable service has been provided during the time period. The purpose of the forms is to meet the reporting requirements of the 1994 Finance Act and to certify that required payments are made timely.For more information, go to the Service Tax site, www.servicetax.gov.in.
Taxable incomes
No. Federal tax refunds are not taxable. In some cases, state tax refunds are taxable.
NO, workman's compenstion is not taxable by federal or state taxes in the state of Oklahoma.
Federal Income Tax (FIT) Taxable
None of the federal rebates that you may have received would be taxable.
income with non taxable should put in under which account
If you have taxable income, yes.
Year-to-date income that is taxable as federal income tax.
No. Your federal tax is not deductible from your income in determining state taxable income, hence any refund of it isn't included as taxable income.
SSI
the difference between a reporting entity and a taxable entity is, a reporting entity is the company or organization and the taxable entity is the individual.
Prize money is typically taxable in the year it is received. It should be reported as "other income" on your tax return and may be subject to federal and state income taxes depending on the amount and your individual tax situation. Be sure to keep accurate records of any prizes or awards you receive.