Patriot Software

MARCH 6, 2024

Understand the new Alabama overtime tax law that exempts employees' overtime earnings from state income tax. Get the details and reporting requirements for businesses. Read More

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Alabama Tax income tax payroll tax 105

TaxConnex

JANUARY 4, 2024

Last summer, for instance, Puerto Rico gave a break on school uniforms and supplies; Alabama cut shoppers tax slack on school supplies, clothing and computers. This year, multiple states introduced new sales tax exemptions, too. Virginia, Alabama and Kansas gave breaks on groceries. National sales tax H.R.25

Sales 264

Sales Tax Colorado South Dakota 264

TaxConnex

JUNE 18, 2024

In states like Alabama, as we’ll see, the effort continues.) uniform sales proposal is The FairTax Act , which aimed to replace major sources of federal revenue such as income taxes, estate and gift taxes, capital gains, and payroll tax (and the entire IRS) with a 23% sales tax on retail sales of goods and services.

South Dakota 214

South Dakota North Dakota Sales Alabama 214

Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

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payroll tax payroll South Dakota Rhode Island 52

ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. And in 2013, the Additional Medicare tax (0.9%) on wages in excess of $200,000 took effect.

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payroll Tax income tax payroll tax 59

CPA Practice

OCTOBER 18, 2023

Some key factors to evaluate include: Tax rates Tax rates vary widely across states. Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

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business tax Tax Alaska South Dakota 59

ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. Negative reporting is not accepted. per hour. .

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payroll Virginia Utah West Virginia 72