Sentences with phrase «than the average income tax»

(King's district, which covers the southern part of Nassau County, is the only one in the state where the average property tax deduction is higher than the average income tax deduction.)

Not exact matches

Redistributing tax money from workers to seniors with incomes higher than the national average is unsound policy,» Clemens said in a release.

Because average tax rates have fallen for all income groups since 1979, growth in after - tax income has been somewhat larger than growth in before - tax income from 1979 to 2013.

Property and income taxes also are lower than the national average.

I also believe saving $ 5,000 - $ 15,000 a year in after - tax income is very realistic for the above average person, and probably very easy for many who earn more than $ 85,000 per person.

Colorado residents pay more in taxes — and pay a higher percentage of their income toward taxes, on average — than residents in more than half of the other states.

Although the average level of after - tax income of the top 1 percent of households remains well below its 2007 peak, the percentage increase in their average after - tax income from 1979 to 2013 was five times larger than that of the middle 60 percent and four times larger than that of the bottom fifth.

The method employed by the IRS used to estimate the total amount of underreported income of all nonfarm sole proprietorships, or gross tax gap, rather than the average amount of underreporting of households led by unincorporated self - employed individuals.

The tax burden in Indiana is lower, on average, than in most states due largely to low state income taxes paid.

To qualify, the business must have a net worth of less than $ 15 million and an average net income of less than $ 5 million after taxes.

To qualify, applicants must have a net worth of less than $ 15 million and an average net income of less than $ 5 million after taxes.

In the next budget, let's impose a six - point increase in income tax on those earning more than $ 250,000 a year (whose average taxable income is $ 600,000).

While the personal income tax, which has a top rate of 5 %, is slightly lower than the national average for state income taxes, the statewide sales tax of 7 % is slightly above the national average.

For example, corporate profits have a much higher average effective tax rate than that personal income.

And when we realize that the average person today is paying the federal government around 25 % of their income, and then paying another 10 % (or more) for state, county, and city taxes, we are paying a little more in taxes today than what was prescribed by the Mosaic Law for the people of Israel to pay their government.

1) Charities spend their income on necessities, such as food and utilities, which ever - so - slightly re-orients our economy toward recession - resistant products, rather than luxuries 2) Charities spend their money quickly, but on independent schedules, making for a smoother stimulus effect on the economy 3) Charities make purchases tax - free, meaning that $ 1 spent by a charity generates a full $ 1 of private economic activity; furthermore, much of those tax revenues are recovered as income tax on the grocery stores, utility companies, etc. that might not have received that income otherwise 4) Charitable giving is by far the most democratic way to improve society; from birth control to bombers, government assuredly spends money on something you don't like, and charitable giving restores your say - so 5) Charitable donations are tax deductible, meaning you keep those tax dollars in your local community 6) Charitable donations provide the funds necessary for volunteers to serve the needy, thus giving «the average citizen» a chance to meet and interact with the needy, breaking down stereotypes

Actually, I think you're making a very big assumption — people in places like New York, New Jersey, California, Washington State, Massachusetts and Connecticut make more money on average than people in Montana, Alabama, Mississippi, etc., and are hence going to pay both a higher percentage of their income and a higher absolute amount in taxes.

As a percentage of income by income decile (the purple line) this means that the property tax isregressive — the poorest four deciles pay a larger percentage of their annual incomes (on average) than do the richest six deciles.

Given that the average income of UKIP voters is lower than that of supporters of the other main parties, and that households with incomes of # 30,000 a year or more are amongst those least likely to vote UKIP, the emphasis on tax cuts for middle and higher earners seems like an odd strategy.

Cuomo said the average New Yorker pays 2.5 times more in local property taxes than in state income taxes.

Texas, for example, has no state income tax and its property taxes on average are lower than New York's, giving Texas taxpayers fewer reasons to claim the state and local tax deduction.

This is no statistical fluke — the top 10 most popular destinations for those who've left have an average personal - income tax of 2.9 percent, six points lower than New York's top rate.

Vince Cable, the Liberal Democrats» Treasury spokesman, said: «What we really need is permanent, fully funded tax cuts targeted at those on low and average incomes, through reductions in income tax, rather than giving a temporary VAT cut, which will primarily reward the big spenders who have loads of money.»

The average New York family making $ 50k a year pays a larger share of their income as taxes than a family making a $ 1 million a year.

Residents say they are being driven out by some of the highest property taxes in the nation and higher - than - average income taxes that, even though recently lowered, still rank in the top half of the U.S.

He says in the 30 years preceding the tax cap, school property taxes rose at an average of 6 percent a year, or twice the rate of inflation, and higher than the rate of the state income tax.

«His proposal to repeal the A.M.T. would have slashed his own tax burden by $ 31 million, and his income tax rate would be lower than the average rate paid by families earning $ 75,000 to $ 100,000.»

The IFS says it shows, once all of the benefit cuts are considered, the tax and benefit changes announced in the emergency budget are «clearly regressive», as on average, they hit the poorest households more than those in the upper - middle of income distribution in cash.

Through income taxes alone, New Yorkers paid an average of $ 7,361 to the feds, 54 percent higher than the national average of $ 4,768, DiNapoli said.

After federal income tax deductions, Connecticut's wealthiest taxpayers pay an average of 5.5 percent for their income in state and local taxes, compared to 10.5 percent for middle - class families and more than 11.0 percent for the state's poor.

Homeowners in these regions pay an average of $ 18,000 in Weston, Conn. to $ 43,000 in Bronxville, N.Y. Bronxville's average property tax bill alone is more than twice the median household income of any of the poorest school districts on this list.

The Internal Revenue Service requires a Schedule B form in a number of situations, but for the average taxpayer, the two most common reasons are earning more than $ 1,500 of interest or dividend income (from savings accounts or stocks, for example) and to exclude the interest you earn on certain U.S. savings bonds from your tax return.

For periods greater than one year, the indicated rates of return are the average annual compound total returns as of the date indicated and all returns include changes in unit value and the reinvestment of all distributions and do not take into account sales, redemption, distribution or other optional charges or income taxes payable by any unitholder that would have reduced returns.

As average tax on dividend is lower than maximum marginal tax; for some investor it generates extra post tax income

A $ 2,000 property tax bill of won't affect a high - income family, but it could place a huge burden on some families making less than the national average.

According to recent government figures, the average mortgage payment for people older than 65 accounts for about 14 % of their annual pre-tax income.1 This figure doesn't include money spent on real estate taxes, homeowners» insurance, or ongoing home maintenance and repairs.

Free cash flow is different than just your income because it looks at things like how much you pay in rent or for your mortgage, how much you pay in taxes, and the average cost of living where you live.

Right now, it takes just over two years» worth of the average household income (before taxes and other expenses) to pay for a house in Charlottetown and slightly more than three in Saskatoon.

He predicts that unless a client's average tax bill represents more than 35 % of adjusted income, muni funds are probably unnecessary in today's bond investing landscape.

Net worth of less than $ 15 million and an average net income of less than $ 5 million after taxes for past two years

Any gains recognized on disposition of the PFIC shares and distributions received from a PFIC during the year greater than 125 % of the average distributions received during the previous three years would be taxed as ordinary investment income during the year.

For households in the top 1 percent of the income distribution, inflation - adjusted after - tax income grew at an average rate of about 3 percent per year, making that income 192 percent higher in 2013 than it was in 1979 for those households.

In contrast, households in the bottom quintile experienced an average growth of about 1 percent per year in their inflation - adjusted after - tax income over the same period, making that income 46 percent higher in 2013 than it was in 1979, CBO estimates.

To qualify, the business must have a net worth of less than $ 15 million and an average net income of less than $ 5 million after taxes.

Look at the overall average tax rate of your expected retirement income - if you're expecting to pull out $ 100k a year, you're probably paying less than 20 % in average taxes, because the first third or so is taxed at a very low rate (0 or 15 %), assuming things don't change in our tax code.

High - income taxpayers benefitted most from these tax cuts, with the top 1 percent of households receiving an average tax cut of over $ 570,000 between 2004 - 2012 (increasing their after - tax income by more than 5 percent each year).

The only thing I would point out is that since deductions work against your highest tax - bracket income first, you should be using your marginal (highest) tax rate rather than your effective (average) tax rate when considering the benefit of a mortgage interest deduction.

The hypothesis is that some environmental taxes associated with luxury income are less regressive than the average environmental tax.

And if companies adjust workers» wages to offset reductions in health benefits due to the tax, more than 12 million employees will face an average of $ 1,050 in higher payroll and income taxes per year.

> 6) US energy is dirt cheap — less than 10 % of average after - tax income.