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  • Business Sales Tax Law?

    I didnt pay from jul 06 to dec 06 in Nebraska. and i lost last year around 25,000 from my business. i didnt made some money from the business. still i have to pay state ?if yes how much time i have to pay last years ? i filed tax go back to IRS showing the lose. and i am shutting down the business next month.

     
    • irongrama 7:14 am on August 8, 2010

      Sales tax has nothing to do with whether or not you make a profit. If what you are talking about is sales tax due on sales that you made, you collected the money from your customers and owe it to the state. If you are talking about sales tax you owe on things you bought, then you still owe it, you bought and used the items.
      Income tax cares about gain or loss, it has nothing to do with sales tax. Shutting down you business won’t help either, assuming you operated as a sole proprietor and not a corporation or other type of entity.
      As to time, you will owe penalty for being late, and interest will continue to accrue until it is paid.

    • bostonianinmo 7:14 am on August 8, 2010

      If you were engaged in retail sales, you must pay to the state any sales tax that you collected. Sales tax collections have nothing to do with profit or loss in the business or income taxes.

    • tma 7:14 am on August 8, 2010

      You probably have to file quarterly, from 7/1-9/30 and from 10/1-12/31. The sales tax returns are way overdue. The third quarter’s report was due in October, and the fourth quarter’s report was due in January.

      If you collected any sales tax at all, you are required to pay this amount to the state. Any sales tax past due is also incurring interest each day it is overdue.

      Here is the website with Nebraska sales tax forms.
      http://www.revenue.ne.gov/tax/current/current.htm#sale

  • Does the Tea Party know that the new immigration law is going to slap AZ with a huge tax bill?

    If they put immigrants in jail, and not send them off to ICE for processing it’ll slap the tax payers with a huge bill? So now the tax payers are not merely having to pay more , they are supporting those illegals in jail?

    Where are you Tea Party?

     
    • LadyAmerican 4:31 pm on August 7, 2010

      The tax hike is for a good cause so many probebly won’t complain

    • Thomasina Paine 4:31 pm on August 7, 2010

      Here’s a newsflash for you – illegals don’t pay taxes and their employers don’t pay taxes on them.

      Nobody cares as much about money as you people do – think of the thousands of American lives that will be saved. More Americans have been killed by illegals than in Afghanistan and Iraq combined.

      Hopefully they will go right to a detention center and then back to their home countries. If you like them so much why don’t you sponsor them and let them move in with you.

      This governor did the right thing without the Tea Party.

    • dg0715 4:31 pm on August 7, 2010

      Tea Party ppl are ignorant. They don’t see outside the box. Illegals bring billion of dollars in taxes they pay, now that they get deported all the money will be gone. Maybe all the ppl who support this immigration law should be tax more money.

    • Herr Cyclops 4:31 pm on August 7, 2010

      Happy to spend my money on a good cause.

    • Joel W 4:31 pm on August 7, 2010

      You wish. But no.

      Welfare will go down, so will crime. The Border Patrol picks up the illegal aliens daily, and the people of AZ enjoys a……. tax reduction.

    • thinkingtime 4:31 pm on August 7, 2010

      Can’t wait to see the tea party people lining up to ID themselves at every rally….

    • Cat 4:31 pm on August 7, 2010

      It will be CHEAPER than the millions of illegals draining this country DRY!

    • bane86 4:31 pm on August 7, 2010

      do you know how much money will be save when there is 460,000 less illegals on welfare, wic,free medical, in our schools, plus 460,000 mexican illegal being deported would have to free up at least 4 or 5 jobs.

    • StoneCold 4:31 pm on August 7, 2010

      We are paying more in taxes now having illegals stay in the country. So WTF difference does it make to get illegals the hell out of country? We’re paying either way.

      Other states plan to follow Arizona’s new law. So where do illegals think they’ll have left to go?

      "An estimated 100,000 illegal immigrants have left Arizona in the past two years as it cracked down on illegal immigration and its economy was especially hard hit by the Great Recession. A Department of Homeland Security report on illegal immigrants estimates Arizona’s illegal immigrant population peaked in 2008 at 560,000, and a year later dipped to 460,000.

      The law’s supporters hope the departure of illegal immigrants will help dismantle part of the underground economy here and create jobs for thousands of legal residents in a state with a 9.6 percent unemployment rate.

      Kavanagh says day labor is generally off the books, and that deprives the state of much-needed tax dollars. "We’ll never eliminate it, just like laws against street prostitution," he says. "But we can greatly reduce the prevalence.""

      Illegal immigrants plan to leave over Ariz. law
      http://news.yahoo.com/s/ap/20100429/ap_on_re_us/us_immigration_day_labor_3

    • Pointing at you! 4:31 pm on August 7, 2010

      But it will make it so horrible to live there the illegals will move and in the long run taxes can drop. You really need to wait and get out of middle school so you can learn how the world works.

    • Maricopa County 4:31 pm on August 7, 2010

      Well thats just the way the world is today.People who break laws must be held accountable. Do we adjust our laws how much it will cost or are we a nation of laws ? why does everthing about illegals always come down to money ?

    • Registered Democrat 4:31 pm on August 7, 2010

      Looks like sk8rchick just teabagged herself.

    • yablocksthetruth 4:31 pm on August 7, 2010

      I don’t speak for the Tea Party though I do speak for common sense. If AZ eliminates the ILLEGAL immigrants in their state they will save a significant amount of money. Illegal immigrants costs this nation billions of dollars every year. The cost to schools, the prison system (1/3rd of our federal prisoners are illegal immigrants), cost due to crime, hospitals, etc. is significantly more than it would ever cost to arrest and deport people.

    • Joe 4:31 pm on August 7, 2010

      What is the tie between the tea party and the new law?

      try again

    • * Smile! * 4:31 pm on August 7, 2010

      I’m sure its nothing compared to the drain on hospitals, social services, education, and welfare currently being eaten up by Arizona’s illegal population.

      Moreover, remove the large criminal element from society and the cost to law enforcement decreases drastically.

    • bulian1 4:31 pm on August 7, 2010

      "Teabaggers are a misinformed, right-wing corporate media consumer who often fails to understand that BOTH major parties represent a corrupt plutocracy that steals from the middle class by taxing labor and profiting from corporate tax subsidies.

      A teabagger also often fails to acknowledge that George W. Bush and his neo-conservative minions perpetrated one of the boldest and most egregious executive power grabs in the history of the United States. Furthermore, teabaggers mistakenly continue to blame a newly elected President Obama for all that ails the United States of America, based on a grossly flawed perception of reality (including latent racial prejudice) and despite the fact the U.S. economy collapsed on the previous administration’s watch.

      Teabaggers are also known to base their misguided, right-wing-media-inspired beliefs about President Obama on stupid conspiracy theories about totalitarian takeovers, FEMA camps, etc., despite the fact these very same theories have been circulating around on the Internet for years, and were originally ascribed to neo-conservative cabalists at a time when Barack Obama had not even entered national politics. Teabaggers also are known to be particularly paranoid, xenophobic and intolerant, especially with regard to immigrants and anyone who isn’t white.

      Additionally, teabaggers generally echo stupid myths about entitlement spending (it actually only accounts for about 1% of federal budget spending), have no idea that most poor people in America are not lazy, actually do work and don’t want to be on welfare, and have no idea what socialism actually means or that socialist reform in this country is actually what allowed a middle class to flourish and ultimately make the U.S. one of the most prosperous nations in human history.

      Furthermore, teabaggers incorrectly equate socialism with Stalinism, think a system that rewards greed (capitalism) is the divine preference (despite Gospel evidence to the contrary), and are shameless champions of a misguided belief in American exceptionalism. Teabaggers also fail to recognize the inherently unpatriotic nature of their failed every-man-for-himself ideology that ultimately vilifies anyone who supports public policy aimed at reaching out to fellow Americans in need. They celebrate an exploitative corporatocracy (holy creator of jobs, blah blah blah) while denigrating the little guy for being "weak."

      Interestingly, teabaggers uphold an immoral, morbidly obese, twice divorced, draft-dodging, college dropout and known drug addict as their de facto leader, and are even known to advocate burning books. Of course, teabaggers fail to recognize the blatant hypocrisy within the GOP and tend to oversimplify all political debate and social issues, much like their pseudo-intellectual, fat-ass leader.

      Finally, incredibly, teabaggers fail to recognize the hysterical double entendre associated with their proudly adopted teabag moniker.

      Every village has its idiots, of course, but it’s sad when citizens of any nation allow themselves to be whipped into a frenzy en masse by a state-run propaganda machine masquerading as a legitimate, fair, balanced and independent news organization. Teabaggers are right to believe the future of the U.S.A. is in jeopardy, but sadly they have not yet correctly identified the real enemy. Perhaps when teabaggers finally grow up and mature into thinking adults, they will see the right-leaning power establishment for the oppressive and cunning beast that it is.

      Teabagger: We don’t care that George Bush tripled the deficit and lied us into a war. The new administration only cut taxes for 90% of the population… fascists. Let’s go throw some Lipton tea bags into a fountain!"

    • C V 4:31 pm on August 7, 2010

      More proof that people don’t really object to taxes so much as what we spend their taxes on.

      Good point.

  • Can someone please show me the law that makes us to pay council tax in britain uk.?

    Can someone please show me the law that compels us to pay council tax in Britain UK.
    When you find it can you please place the link in your answer..
    Thanks

     
  • Question on the gift tax law?

    Hi,

    I am aware that you may give up to ,000 as a gift without being taxed.

    My question is, can anyone give you money as a gift? may it be suspicious if 1 person receive multiple cash gifts?

    If I have 2 friends give me 000 each as a gift and uncle and cousin give 000 each, total of ,000, may it raise some flags to IRS or the bank?

     
    • Gilbe-BN 9:19 am on August 7, 2010

      Anyone can give anyone a gift. Checks do not bother Uncle Sam because they are traceable, and therefore accountable. CASH deposits or purchases over $10,000 have to be reported to the government because the government wants to find, track, and catch people who get lots of cash through illegal activity. Even though the activity is illegal, you are supposed to pay income taxes on the money you "make" including drug dealing, theft, underground gambling, etc.

      Gifts are never taxable to the receiver. Monetary gifts from an individual to a single individual over $13,000 in a year have to be tracked and accounted for by someone with a large estate because the government does not want Mr. Rich to avoid paying estate taxes when he dies. { "a gift in contemplation of death" is the term.} That is where the idea of a giver needing to pay taxes on a gift comes from. People with small estates aren’t bothered.

      Rules can change, but that was how it was for me a few years ago. Aging parents with the extra $ can start passing out inheritance money before they die, so that the adult children can use it when they need it the most. Grandparents could also fund their grandkid’s college education.

    • the tax lady 9:19 am on August 7, 2010

      What you can’t do it have your Uncle give you $10,000 and then have him give your cousin $10,000 with the understanding that the cousin will funnel the money directly to you.

    • tro 9:19 am on August 7, 2010

      each one can give $13000 without repercussions

  • Question on the gift tax law?

    Hi,

    I am aware that you may give up to ,000 as a gift without being taxed.

    My question is, can anyone give you money as a gift? may it be suspicious if 1 person receive multiple cash gifts?

    If I have 2 friends give me 000 each as a gift and uncle and cousin give 000 each, total of ,000, may it raise some flags to IRS or the bank?

     
    • Gilbe-BN 9:19 am on August 7, 2010

      Anyone can give anyone a gift. Checks do not bother Uncle Sam because they are traceable, and therefore accountable. CASH deposits or purchases over $10,000 have to be reported to the government because the government wants to find, track, and catch people who get lots of cash through illegal activity. Even though the activity is illegal, you are supposed to pay income taxes on the money you "make" including drug dealing, theft, underground gambling, etc.

      Gifts are never taxable to the receiver. Monetary gifts from an individual to a single individual over $13,000 in a year have to be tracked and accounted for by someone with a large estate because the government does not want Mr. Rich to avoid paying estate taxes when he dies. { "a gift in contemplation of death" is the term.} That is where the idea of a giver needing to pay taxes on a gift comes from. People with small estates aren’t bothered.

      Rules can change, but that was how it was for me a few years ago. Aging parents with the extra $ can start passing out inheritance money before they die, so that the adult children can use it when they need it the most. Grandparents could also fund their grandkid’s college education.

    • the tax lady 9:19 am on August 7, 2010

      What you can’t do it have your Uncle give you $10,000 and then have him give your cousin $10,000 with the understanding that the cousin will funnel the money directly to you.

    • tro 9:19 am on August 7, 2010

      each one can give $13000 without repercussions

  • Tax law: Are you eating those pumpkins?

    OMG! What next?
    : Are you eating those pumpkins? Tue Oct 30, 10:18 PM ET

    The Iowa Department of Revenue is taxing jack-o’-lanterns this Halloween. The new department policy was implemented before officials decided that pumpkins are used primarily for Halloween decorations, not food, and should be taxed, said Renee Mulvey, the department’s spokeswoman.

    "We made the change because we wanted the law to match what we thought the predominant use was," Mulvey said. "We thought the predominant use was for decorations or jack-o’-lanterns."

    Previously, pumpkins had been considered an edible squash and exempted from the tax. The department ruled this year that pumpkins are taxable — with some exceptions — if they are advertised for use as jack-’o-lanterns or decorations.

    Iowans planning to eat pumpkins can still get a tax exemption if they fill out a form.

    http://news.yahoo.com/s/ap/20071031/ap_on_fe_st/pumpkin_tax&printer=1;_ylt=AjBYizIO6wrzqUVtPjuAWuwuQE4F