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By contrast, a tax credit is applied directly to your tax liability. If you owe $3,000 in taxes and your energy credits total $3,000 or more, then you will pay $0 in taxes. Residential Clean ...
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Taxation in the United States. Internal Revenue Code Section 132 (a) provides eight types of fringe benefits that are excluded from gross income. These include fringe benefits which qualify as a (1) no-additional-cost service, (2) qualified employee discount, (3) working condition fringe, (4) de minimis fringe, (5) qualified transportation ...
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The highest sales tax in Washington is on liquor. The spirits sales tax is 20.5% of the value of the product purchased and a $3.7708 per liter spirits liter tax is assessed on spirits sold to consumers. 1 April 2008 saw tax increases in King County (+.001), Kittitas County (+.003), Mason County (+.001), and the city of Union Gap (+.002).
Tax rates vary widely by jurisdiction from less than 1% to over 10%. Sales tax is collected by the seller at the time of sale. Use tax is self assessed by a buyer who has not paid sales tax on a taxable purchase. Unlike value added tax, sales tax is imposed only once, at the retail level, on any particular goods. Nearly all jurisdictions ...
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