Table of taxable and tax-exempt goods and services Section 1:Taxability of Goods and Services What transactions are generally subject to sales tax in Maine? In the state of Maine, legally sales tax is required to be collected from tangible, physical products being sold to a consumer. Several...
Through 2025, exceptions to federal tax laws allow some homeowners to escape additional tax liability when going through foreclosure.
What are the total taxable benefit hours and the corresponding amounts for employees processed in retroactive pay? What is the total retroactive amount by various payroll elements? Which employees have not received the retroactive pay in a payroll cycle? What are the rows, columns and th...
Our tax preparation software will help you decide which transactions are taxable and which are not based on the information you provide. After you’ve entered all the applicable transactions from your 1099-K, we’ll review what you told us. At this point, you can go back in and edit or ...
goods and services are taxable – and if the items that you are selling are not taxable, then you are not required to collect sales tax on those items. However, you may still have an obligation to register. Here’s a list of items that are commonly tax-exempt, depending on the state:...
In the EU, thethreshold to collect VATvaries by country. If you perform a transaction that’s taxable in an EU country other than the one where you’re established, you generally must collect VAT in that country unless the transaction is exempt or subject toreverse charge(which typically appl...
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Taxable unemployment compensation State tax refunds 1099-G box 2 example Click to expand Key Takeaways Form 1099-G is issued by a government agency to inform you of funds you have received that you may need to report on your federal income tax return. ...
Nearly every small business sells items or provides services to customers. When you operate a small business, you must have a thorough knowledge of which transactions are taxable in your state. You must also understand the procedure for collecting sales tax from customers and paying it to the pr...
Social Security Benefits:A portion of Social Security benefits may be tax-exempt, depending on the recipient's total income and filing status. Generally, if Social Security benefits are the only source of income, they are likely to be tax-exempt as the taxpayer may not meet a taxable ...