Sentences with phrase «normal state penalties»

Not exact matches

Meaning, you have to pay normal state and federal income taxes; and if you are under age 59.5, a 10 % premature withdrawal penalty will be imposed.

For example, California adds a 2.5 % state tax early withdrawal penalty, so it ends up being 12.5 %, plus the normal income tax on the withdrawal... pretty substantial and makes me less inclined to use this approach (at least while living in California).

Voluntary disclosure is the only way of returning to a state of normal tax affairs and avoiding penalties.

If you are a repeat offender, the penalties may be as severe as a lifetime revocation of your driving privileges, barring a successful appeal in Normal Illinois state court.