Sentences with phrase «federal taxable income for»

If you don't claim the deduction from federal taxable income for Minnesota income tax purposes, you may be eligible for a non-refundable tax credit.

Yes, effective for tax years beginning after December 31, 2016, a taxpayer may be eligible for either a deduction from federal taxable income for Minnesota income tax purposes or a tax credit on contributions to an Account during a taxable year.

Not exact matches

$ 118 million change in revenue for each percentage point change in the federal estimate of 2014 Canada Corporate 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.

With a traditional IRA, your contribution may reduce your taxable income and, in turn, your federal income taxes if you are eligible for the tax deduction.1 Earnings can grow tax deferred until withdrawn, although if you make withdrawals before age 59 1/2, you may incur both ordinary income taxes and a 10 % penalty.

The spin - off is taxable for U.S. federal income tax purposes.

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.

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.

Their contributions are automatically deducted from their paychecks before federal income tax, reducing taxable income while creating the opportunity for future tax - deferred growth on that money.

For taxable accounts, investors can consider iShares Short Maturity Municipal Bond ETF (MEAR), whose income is generally exempt from federal income tax.

[fn.3] Since the starting point for many state income tax calculations is either federal adjusted gross income or federal taxable income, a dollar - for - dollar tax credit might lose the state revenue.

For federal income tax purposes, fund distributions of long - term capital gains are generally taxable at reduced long - term capital gain rates.

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.

The AMT is a complicated tax calculation that is intended to eliminate the potential for taxpayers to report large financial accounting profits while reporting little taxable income for federal income tax purposes, thus, paying little or no tax.

The employer would still be able to take a deduction for the payroll tax, and workers would have less taxable income to pay to the federal government.

The numbers below illustrate possible tax savings for a joint return of $ 40,000 taxable income using itemized deductions and tax rates of 15 % for Federal and 7.4 % for State.

The federal tuition and fees deduction allows qualifying taxpayers to reduce their taxable income by up to $ 4,000 for qualifying educational costs they paid during the year.

For example, if you earn $ 80,000 taxable income (married couple filing jointly) in 2009, your federal tax will equal to

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.

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.

Unemployment is taxable income for federal tax purposes, while Social Security is only taxable if your income from certain sources exceeds a specified threshold.

For example: if your taxable income today is $ 50,000, you'd pay 25 % in federal income taxes alone on the $ 5,000 you could save in a pre-tax retirement account.

For federal income tax purposes, fund distributions of long - term capital gains are generally taxable at reduced long - term capital gain rates.

If you have taxable income from the VA, you will receive Form 1099 - R referencing amounts for reporting for your federal income taxes.

Certainly, the motivation to keep working 50 or 60 - hour weeks only to be subject to a new 33 % federal tax on taxable incomes above $ 200,000 would be greatly diminished for at least some high - earners.

Your total federal income tax bill would be $ 4,739.50, putting your average tax rate at 9.1 % for your $ 52,000 in gross income and 11.8 % for your $ 40,000 in taxable income.

Roth vs. Traditional IRA Contributions — In recent years, we have moved up a rung or two on the federal tax bracket to the point where, in all likelihood, it will be higher than our taxable income in retirement (basically just expecting investment income on our taxable brokerage account and withdrawals from traditional retirement plans for income in retirement).

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.

2009 Income Tax Rates Canada Canadian Personal Income Tax Rates Federal Income Tax Rates for 2009 Provincial Income Tax Rates for 2009 Federal Income Tax Rates for 2009: 15 % on the first $ 38,832 of taxable income, + 22 % on the next $ 38,832 of taxable income (on the portion of taxable income between $ 38,832 and $ 77,664), + 26 % on -LSIncome Tax Rates Canada Canadian Personal Income Tax Rates Federal Income Tax Rates for 2009 Provincial Income Tax Rates for 2009 Federal Income Tax Rates for 2009: 15 % on the first $ 38,832 of taxable income, + 22 % on the next $ 38,832 of taxable income (on the portion of taxable income between $ 38,832 and $ 77,664), + 26 % on -LSIncome Tax Rates Federal Income Tax Rates for 2009 Provincial Income Tax Rates for 2009 Federal Income Tax Rates for 2009: 15 % on the first $ 38,832 of taxable income, + 22 % on the next $ 38,832 of taxable income (on the portion of taxable income between $ 38,832 and $ 77,664), + 26 % on -LSIncome Tax Rates for 2009 Provincial Income Tax Rates for 2009 Federal Income Tax Rates for 2009: 15 % on the first $ 38,832 of taxable income, + 22 % on the next $ 38,832 of taxable income (on the portion of taxable income between $ 38,832 and $ 77,664), + 26 % on -LSIncome Tax Rates for 2009 Federal Income Tax Rates for 2009: 15 % on the first $ 38,832 of taxable income, + 22 % on the next $ 38,832 of taxable income (on the portion of taxable income between $ 38,832 and $ 77,664), + 26 % on -LSIncome Tax Rates for 2009: 15 % on the first $ 38,832 of taxable income, + 22 % on the next $ 38,832 of taxable income (on the portion of taxable income between $ 38,832 and $ 77,664), + 26 % on -LSincome, + 22 % on the next $ 38,832 of taxable income (on the portion of taxable income between $ 38,832 and $ 77,664), + 26 % on -LSincome (on the portion of taxable income between $ 38,832 and $ 77,664), + 26 % on -LSincome between $ 38,832 and $ 77,664), + 26 % on -LSB-...]

For example, a tax - free yield of 7 % is equivalent to a taxable yield of 9.7 % for an investor in the 28 % federal income tax bracket, and to a taxable yield of 10.9 % for an investor in the 36 % tax brackFor example, a tax - free yield of 7 % is equivalent to a taxable yield of 9.7 % for an investor in the 28 % federal income tax bracket, and to a taxable yield of 10.9 % for an investor in the 36 % tax brackfor an investor in the 28 % federal income tax bracket, and to a taxable yield of 10.9 % for an investor in the 36 % tax brackfor an investor in the 36 % tax bracket.

For instance, federal tax rates are 15 % on the first $ 45,282 of taxable income you earn in 2017, followed by 20.5 % on the next portion (from $ 45,283 to $ 90,563).

If I get a refund from IRS and or from a state tax agency, will that refund be considered taxable income for the next year's federal or state income taxes?

If a state uses federal adjusted gross income, but then has its own provisions for coming up with taxable income from there, then the increase to the standard deduction and the elimination of personal exemptions at the federal level won't necessarily have any impact on the state's subsequent calculation of its own taxable income.

Unlike payments under the UCCB, amounts received under the Canada Child Benefit are not taxable or included in income for the purpose of other federal income - tested benefits.

Certain investments may generate unrelated business taxable income («UBTI»), upon which federal income tax is imposed for IRA investors or certain other tax - exempt plans or accounts.

The amount computed on the federal tax return is generally the starting point for computing Vermont taxable income.

For investments in taxable accounts, remember that municipal bond interest payments are exempt from federal income tax, and U.S. Treasury bond interest is exempt from state income tax.

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).

Withdrawals are considered taxable income for federal taxes.

Distributions are taxable to you for federal income tax purposes, whether or not you reinvest these amounts in additional Fund shares.

50 — Taxable distributions from IRAs and qualified employer retirement plans before age 59 1/2 are generally subject to a 10 % early distribution penalty (20 % for certain SIMPLE plan distributions) on top of any federal income taxes due.

A conversion from Investor Class shares to Institutional Class shares of the Fund or from Institutional Class shares to Investor Class shares of the Fund pursuant to the preceding paragraphs should generally not be a taxable exchange for federal income tax purposes.

It says that «A U.S. holder's receipt of the merger consideration in exchange for shares of our common stock will generally be a taxable transaction for U.S. federal income tax purposes.»

Anyone who is a resident of Maine for any part of the tax year, and has taxable Maine source income on their federal return, must file a Maine return.

The Liberals have stated their first priority will be to cut the federal tax rate from 22 % to 20.5 % for the middle income - tax bracket, which affects Canadians with taxable annual income between about $ 45,000 and $ 90,000.

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.

If you used the standard deduction, then, Yes, the state tax refund that you received in 2016 is not taxable income for Federal income tax purposes, and it is not taxable income for State purposes either.