Sentences with phrase «sales tax purposes»

According to New York State's tax code (but certainly not the people buying them), burritos are considered sandwiches for sales tax purposes.

For sales tax purposes, nexus requires physical presence.

Also, ask the dealer to treat your used car like a conventional trade - in on the bill of sale, for retail sales tax purposes.

authorizing the Tax Commissioner to use generally accepted statistical sampling techniques to perform audits for sales tax purposes;

Not exact matches

«The purpose of the destination - based cash flow tax is to tax the sale of the goods in the U.S.,» Rosenberg explained.

Musk's sale generated nearly $ 600 million in proceeds for the Tesla CEO, which, according to the company, he used for tax purposes.

Special rules may apply with respect to certain subsequent sales of the Shares in a disqualifying disposition, certain basis adjustments for purposes of computing the alternative minimum taxable income on a subsequent sale of the Shares and certain tax credits which may arise with respect to optionees subject to the alternative minimum tax.

If such a sale or disposition takes place in the year in which the participant exercises the option, the income recognized upon the sale or disposition of the shares will not be considered income for alternative minimum tax purposes.

This hypothetical illustration assumes the investor met the holding requirement for long - term capital gains tax rates (longer than one year), the gains were taxed at the current maximum federal rate of 23.8 %, and the loss was not disallowed for tax purposes due to a wash sale, related party sale, or other reason.

It does not discuss all aspects of U.S. federal income taxation that may be relevant to particular holders in light of their particular circumstances or to holders subject to special rules under the Code (including, but not limited to, insurance companies, tax - exempt organizations, financial institutions, broker - dealers, partners in partnerships (or entities or arrangements treated as partnerships for U.S. federal income tax purposes) that hold HP Co. common stock, pass - through entities (or investors therein), traders in securities who elect to apply a mark - to - market method of accounting, stockholders who hold HP Co. common stock as part of a «hedge,» «straddle,» «conversion,» «synthetic security,» «integrated investment» or «constructive sale transaction,» individuals who receive HP Co. or Hewlett Packard Enterprise common stock upon the exercise of employee stock options or otherwise as compensation, holders who are liable for the alternative minimum tax or any holders who actually or constructively own 5 % or more of HP Co. common stock).

For the purpose of evaluating Medicare tax exposure, it's important to know that «unearned» net investment income includes net rental income, dividends, taxable interest, net capital gains from the sale of investments (including second homes and rental properties), royalties, passive income from investments in which you do not actively participate (such as a partnership), and the taxable portion of nonqualified annuity payments.

Stephanie Goss, ConeTech's Sales and Marketing Manager, is similarly eager to share the benefits of the Spinning Cone Column technology with winemakers seeking to lower alcohol levels in their wines for either flavor or tax purposes.

The Cherokee County School Board on Thursday, April 21, 2016 took its first look at tentative plans for Cherokee County School District construction projects and other Education SPLOST (Special Purpose Local Option Sales Tax) expenses for the next five years.

Canada, in contrast, for example, treats death as a deemed sale of capital assets to the inheritors under its income tax, which makes an inheritance tax somewhat less important for revenue protection purposes.

Nixon's campaign said her true income was about $ 1 million in 2017, noting that the overall figure of $ 1.5 million does not reflect some expenses incurred by Nixon's corporation, while it does include receipts from the sales of securities which are not classified as income for tax purposes.

For purposes of this section, the total General Fund calculation shall not include sales and compensating use tax revenues shared with local governments and school districts.

Miscellaneous tax changes reported to be part of the package include several priorities of the business community, including: a favorable change in how the securities industry allocates its receipts for tax purposes, from the address of the firm to the address of the customer; an updating of a sales tax exemption for capital purchases by the telecommunications industry; a reduction in the ton - mileage tax; a rate reduction for small businesses; and creation of an investment tax credit for the securities arms of insurance companies.

Further, as input taxed sales are not included in the calculation of turnover for registration purposes, choosing to treat all sales of food as input taxed may mean that the organisation doesn't have to register for GST or could advise the ATO that it is no longer required to be registered.

In Vermont, revenues from property taxes, sales taxes, the state lottery, Medicaid reimbursement and the general fund were placed into a state education fund that could not be used for other purposes.

Remember that all income from self publishing — even from digital products such as ebooks — will need to be reported as income for tax purposes and may be subject to sales taxes as well.

Petitioner represents that its e-books meet the definition of an e-book for purposes of the policy that the Department of Taxation and Finance recently announced (Department's Policy Regarding Whether E-Books Constitute Information Services Subject to Sales and Use Taxes, TSB - M - 11 [5] S).

Can you tell me how we get original documents of our sales etc from Amazon for tax purposes?

Upon written request, copies of sales drafts and other documentary evidence of transactions made with your Card are available for income tax and other purposes at a reasonable cost.

Things get tricky when there are purchases and sales in the same year, but the main idea is that it's important to distinguish between regular expenses and capital expenses as they are treated differently for tax purposes.

Other free tools include a profit - and - loss calculator, a probability calculator (that uses implied volatility to determine your likelihood of hitting your targets) and the Maxit Tax Manager, which identifies tax implications of trading decisions (e.g., as short - and long - term gains and losses, wash sales) for planning purposes and generates on - demand 1099 forTax Manager, which identifies tax implications of trading decisions (e.g., as short - and long - term gains and losses, wash sales) for planning purposes and generates on - demand 1099 fortax implications of trading decisions (e.g., as short - and long - term gains and losses, wash sales) for planning purposes and generates on - demand 1099 forms.

A sale of property to a family member or someone who you are not dealing with at «arm's length» generally takes place — for tax purposes — at fair market value.

Short against the box: A position of an investor who is long and short the same security, usually for tax purposes, to lock in a sales price, but defer the gain into the year the short position is covered.

This calculation is an estimate for informational purposes only, and does not include CMHC Insurance Premiums, applicable sales taxes, closing costs, or other fees that may be required.

This calculation is an estimation for informational purposes only, and does not include surcharges, applicable sales taxes, closing costs, or other fees that may be required.

The federal government determined that millions in taxes were being drained off each year because of the way investment property sales have been treated for tax purposes.

For example, under Section 1231 of the U.S. Internal Revenue Code, the sale at a loss of such assets used in a trade or business, usually gives rise to an ordinary loss for income tax purposes.

The tax regulations say that if two different stocks are linked together in such a way that any change in the price of one will be reflected in the price of another, they're likely to be treated as substantially identical securities for purposes of the wash sale rule.

For most purposes, the tax law uses the trade date for both purchases and sales.

You can't claim losses generated by wash sales for tax purposes.

When you sell, at a loss, a security of any sort that would be treated as a capital item, the loss will be disallowed for tax purposes if you purchased substantially the same security within 30 days before or after the sale:

You likely know that an «in - kind» transfer of investments into a TFSA is a deemed sale for capital gains tax purposes.

If the seller is a resident of Maine at the time of the sale, if the consideration is less than $ 50,000 (see note below) or if the capital gain is not recognized for federal or Maine income tax purposes, withholding is not required.

All increases in value would be taxed, and assets where the increase can't be measured would assume a 15 % annual return for taxation purposes, with a true - up at the sale of the asset.

How you figure the value of the account before the initial sale would be more difficult, but fortunately you may not ever need to know the value (for tax purposes) until you actually sell it.

The gain on the sale of this stock is 50 percent excludable for regular tax purposes, but 7 percent of the excluded gain is added back for AMT purposes.

For investment purposes, we offer tax - deferred fixed annuity investments, equity - indexed annuity plans, immediate (income generating) annuities, guaranteed income riders, structured settlements, and structured sale accounts.

Generally, a shareholder that participates in a buy - in will, subject to certain conditions, be treated for tax purposes as selling the shares back to the company and the shareholder will be taxed on any gain (proceeds minus cost basis) recognized from such sale.

The idea is that the IRA is a distinct «person» for tax purposes, and the wash sale rule shouldn't apply if the replacement shares are bought by a different person.

Section 1031 allows taxpayers holding property for investment purposes to defer taxes that would otherwise be recognized upon the sale of investment property.

Installment Sales related items, Foreign Tax Credit, Passive Activities, Net Operating Loss carryovers, Schedule D amounts containing unrecaptured section 1250 gain (or anticipated for AMT purposes), sale of disposition of business assets, investment interest expense election including net capital gains in investment income, and items covered under «at risk» rules will not be accommodated by the system.

In the year of disposition the adjustment will be a subtraction for gain attributable to installment payments to be made in future taxable years provided that (i) the gain arises from an installment sale for which federal law does not permit the dealer to elect installment reporting of income, and (ii) the dealer elects installment treatment of the income for Virginia purposes on or before the due date prescribed by law for filing the taxpayer's income tax return.

A redemption of a shareholder's fund shares is normally treated as a sale for tax purposes.

Now I read that even if a piece is sold, the artist: 1) Isn't informed about shipping addresses; 2) Isn't assured that they have or will be paid; 3) Is responsible for paying the buyer's sales tax bill; 4) Presumably is required to forward sales tax funds to the buyer's state department of revenue; 5) Has money / time invested in shipping a parcel to a potential buyer who may or may not return the art a week later (like a toaster oven); 6) Has language like the following within their user agreement: royalty - free, sub-licensable through multiple tiers, perpetual, irrevocable, worldwide right and license to use, reproduce, distribute, modify, translate, create derivative works from, publish, publicly perform and publicly display such User Content and any names, likenesses or trademarks depicted in such User Content, in any media now known or later developed, only for the purposes of developing, promoting and providing the Site.»

Spencer Environmental Lecture Series: «An evening with Janisse Ray: Reflections on Longleaf Pine» 2015 Special Purpose Local Option Sales Tax (SPLOST) Newsroom Public Forums

Generally, if a landowner receives a payment in exchange for an easement in place for 30 or more years, that transaction — for tax purposes — is treated like a sale of the impacted property.