Sentences with phrase «federal taxable income as»

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As mentioned, Colorado taxable income is equal to federal taxable income.

Although that income is not taxed, homeowners still may deduct mortgage interest and property tax payments as well as certain other expenses from their federal taxable income.

To the extent that in 2018 or any later year, the aggregate amount of any covered officer's salary, bonus, and amount realized from option exercises and vesting of restricted stock units or other equity awards, and certain other compensation amounts that are recognized as taxable income by the officer exceeds $ 1,000,000 in any year, we will not be entitled to a U.S. federal income tax deduction for the amount over $ 1,000,000 in that year.

Also, forgiveness of federal student loan debt is taxable as income in the year outstanding loan balances are canceled.

If taxable bond funds or individual bonds are held in a tax - free account such as a Roth IRA, then the income from them would be free from federal taxes, provided certain requirements are met.

The Federal and State of California tax codes provide for restrictive limitations on the annual utilization of net operating losses to offset taxable income when the stock ownership of a company significantly changes, as defined.

We believe that the Continuing LLC Owners generally find it advantageous to hold their equity interests in an entity that is not taxable as a corporation for U.S. federal income tax purposes.

Accordingly, notwithstanding receipt of the IRS private letter ruling and / or opinions of counsel or other external tax advisors, the IRS could determine that the distribution and certain related transactions should be treated as taxable transactions for U.S. federal income tax purposes if it determines that any of the facts, assumptions, representations, statements or undertakings that were included in the request for the IRS private letter ruling or on which any opinion was based are false or have been violated.

The Continuing LLC Owners and GoDaddy Inc. will incur U.S. federal, state and local income taxes on their proportionate share of any taxable income of Desert Newco as calculated pursuant to the New LLC Agreement (as defined below).

Homeowners in Pennsylvania, as those anywhere in the country, are allowed to deduct the mortgage interest they pay from their taxable income when they file their federal income taxes.

GLPI elected to be taxed as a real estate investment trust («REIT») for United States federal income tax purposes commencing with the 2014 taxable year.

Furthermore, we will calculate the state and local income tax savings by applying this 5 % rate to the reduction in our taxable income, as determined for U.S. federal income tax purposes, as a result of the tax attributes subject to the TRAs.

Assuming that each dollar contributed reduces federal taxable income, and that a reduction in federal taxable income correspondingly decreases state taxable income, we can determine the minimum credit percentage states should offer to incentivize participants as a function of the federal and state marginal tax rates.

Generally, these deferred wages (elective deferrals) are not subject to federal income tax withholding at the time of deferral and they are not reflected as taxable income on your Form 1040, U.S. Individual Income Tax Rincome tax withholding at the time of deferral and they are not reflected as taxable income on your Form 1040, U.S. Individual Income Tax Rincome on your Form 1040, U.S. Individual Income Tax RIncome Tax Return.

NXRT intends to qualify and elect to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with its first taxable year of operations as a separate public company.

Unlike many other scholarships, the education award is considered taxable as income by the federal government.

Your federal AGI can also have an impact on your state return, as many states use your federal AGI as a starting point for calculating your state taxable income and your eligibility to claim deductions.

Comparing to 2008 tax brackets, we saw increases in all taxable income ranges, thanks to the inflation, because the federal taxable income levels are inflation adjusted each year, as shown in the following tables.

Do you think the federal government's financial issues today will force it to raise tax rates overall by the time you retire?Keep in mind that you might lose some valuable deductions and tax credits, such as those for your home mortgage or kids, in retirement that would increase your taxable income and tax rate, even if your gross income doesn't rise.

A portion of fund distributions may be subject to state or federal income taxes, AMT, or taxable as capital gains.

Also, forgiveness of federal student loan debt is taxable as income in the year outstanding loan balances are canceled.

Even though the interest paid on a municipal bond is tax - exempt, a holder can recognize gain or loss that is subject to federal income tax on the sale of such a bond, just as in the case of a taxable bond.

Alternatively, if I retire in 5 - 7 years, my taxable income will likely drop to the 15 % tax bracket or lower, and therefore I'd owe no federal capital gains tax on the brokerage account anyway, thereby growing tax free in a similar manner as the 529 plan.

Life insurance proceeds are typically not taxable as income, but can be taxed as part of your estate if the amount being passed to your heirs exceeds federal and state exemptions.

Like all REITs HCN is subject to a federal requirement that it pays out 90 % of its taxable income as dividends.

The number one perk of these savings accounts is that the earnings from the investment as well as any withdrawals from the account are not taxable for federal income tax purposes.

Withdrawals from an annuity contract are taxable as ordinary income and, if made prior to age 59 1/2, may be subject to an additional 10 % federal tax.

As with all mutual funds, Transamerica funds may be required to withhold U.S. federal income tax at the fourth lowest tax rate applicable to unmarried individuals (24 % as of January 1, 2018) on all taxable distributions payable to you if: a) you fail to provide the fund with your correct taxpayer identification number; b) you fail to make required certifications; or c) if you have been notified by the IRS that you are subject to backup withholdinAs with all mutual funds, Transamerica funds may be required to withhold U.S. federal income tax at the fourth lowest tax rate applicable to unmarried individuals (24 % as of January 1, 2018) on all taxable distributions payable to you if: a) you fail to provide the fund with your correct taxpayer identification number; b) you fail to make required certifications; or c) if you have been notified by the IRS that you are subject to backup withholdinas of January 1, 2018) on all taxable distributions payable to you if: a) you fail to provide the fund with your correct taxpayer identification number; b) you fail to make required certifications; or c) if you have been notified by the IRS that you are subject to backup withholding.

As long as they meet certain operating metrics and distribute most of their taxable income as dividends to shareholders, they pay no federal income taAs long as they meet certain operating metrics and distribute most of their taxable income as dividends to shareholders, they pay no federal income taas they meet certain operating metrics and distribute most of their taxable income as dividends to shareholders, they pay no federal income taas dividends to shareholders, they pay no federal income tax.

When you have a student loan balance forgiven through an IDR plan, that balance is viewed as taxable income by the Federal government.

If you file a federal tax return as an individual and your «combined income» — calculated by adding one - half of your Social Security benefit to other income, including nontaxable interest income — is between $ 25,000 and $ 34,000, up to 50 percent of your benefits may be considered taxable.

Distributions from traditional IRAs and most employer - sponsored retirement plans are taxed as ordinary income, except for any after - tax contributions you've made, and the taxable portion may be subject to 10 % federal income tax penalty if taken prior to reaching age 59 1/2 (unless an exception applies).

A sale or exchange of Fund shares is a taxable event, which means that you may have a capital gain to report as income, or a capital loss to report as a deduction, when you complete your federal income tax return.

Payments are subject to federal and state income taxes as taxable income in the year repayment is disbursed.

Non-registered investments are not registered with the federal government, earned income must be included as taxable income each year.

It is taxable income on the Federal tax return for 2016 only to the extent that you received a tax benefit (reduction in Federal income tax due) from deducting State income tax as an Itemized Deduction on your 2015 Federal return.

Any refund of State income tax received as a result of your 2013 State income tax return (which perhaps you also submitted in 2015 at the same time as the 2013 Federal income tax return) will be taxable income to you in the year in which you receive the refund (2015 or later), not 2013 or 2014.

The Federal Government does not count earnings from munis as part of taxable income.

Thrift Savings Plan payments are taxable as ordinary income for Federal income tax purposes for the year in which they are disbursed.

Employee benefit plans and most other organizations exempt from US federal income tax, such as individual retirement accounts and other retirement plans, may be subject to income tax on their unrelated business taxable income («UBTI») if investing directly in an MLP through such a plan.

tax will be required to include in gross income (in addition to taxable dividends actually received) his or her pro rata share of the foreign taxes paid by a Fund, and may be entitled either to deduct (as an itemized deduction) his or her pro rata share of foreign taxes in computing his or her taxable income or to use it as a foreign tax credit against his or her U.S. federal income tax liability, subject to certain limitations.

The fund is required for federal income tax purposes to mark - to - market and recognize as income for each taxable year its net unrealized gains and losses on certain futures contracts as of the end of the year as well as those actually realized during the year.

Each fund is required for federal income tax purposes to mark - to - market and recognize as income for each taxable year its net unrealized gains and losses on certain futures contracts as of the end of the year as well as those actually realized during the year.

The federal solar tax credit allows anyone with a taxable income to claim 30 % of the system cost as a deduction to federal taxes.

If you have a taxable income 30 % of the system cost can be claimed as a deduction to federal taxes.

Provided you have a taxable income 30 % of the system cost can be claimed as a deduction to federal taxes.

If you have a taxable income 30 % of the cost of installing solar can be claimed as a deduction to federal taxes.

Under both federal and state income tax rules, alimony will be deductible by the payor spouse, and is taxable to the receiving spouse, provided that: (1) the payments are in cash and not in kind; (2) the payments are made incident to divorce or to a separation agreement; (3) the parties have not designated the payments as non-alimony; (4) the parties are not living in the same household; and (5) the payor has no liability for payment after the death of the payee spouse.

Like many states, Rhode Island uses federal taxable income, as determined under the current IRC (but without special deductions allowed under federal law), as the starting point for determining taxable income for purposes of the business corporation tax.

Taxable disability insurance benefits are classified as «sick pay,» so if you anticipate receiving benefits, you have to submit IRS Form W - 4S, titled «Request for Federal Income Tax Withholding From Sick Pay» to the insurance company.