 I owe taxes. can i investy/buy in something to offset that? |
| i did my taxes and found that i owe ~$600. so was wondering if i can buy some CDs or invest in some savings which can be tax deductible . basically instead of throwing that money away to IRS, invest ... |
|
 About where are they in the stimulus check distribution? |
| I know that I'm getting once. I received something in the mail. I just want to know who has gotten their stimulus check yet, and the last two digits of their SS#. Both of my roommates have ... |
|
 How much will i get back for taxes? |
| im 17 i work at a pizza place and i was wondering about what percent of my total taxes taken out will i get back or does it just ... |
|
 Need help filing taxes this year? |
| I did not file earlier as I never seemed to have received the form. I tried to send in for one but they sent me the wrong packet. I have no income for the last year. Can you help? What do I need to ... |
|
 Uk national lottery is realy registered by uk goverment? |
this company ask me that i have won lottery and they get 2000000
email from 40000 diffrent companies is it realy?... |
|
 How to know if i owe money to the IRS? |
| years ago i owed $600 to the Irs but for the past years i been resiving income from my taxes,is it possible that they allready deducted the $600 from my taxes, or is there a website or a number to ... |
|
 Can Bush's tax rebate be garnished? |
| If a person has their yearly federal tax refund garnished for child support arrearages, will his tax rebate also qualify for garnishment? They are both drawn on the same treasury accounts and based ... |
|
 IRS audit... is my tax preparer liable? |
| We've used the same tax preparer for many years. Nothing fancy, one of the big name franchise's. Without any major deductions or audit flags we've been selected for an IRS audit. My ... |
|
 Do I claim this income as hobby or business? |
| I have done a little software development work on the side. I really enjoy writing software, and because I write less and less for my job, I feel enthusiastic about writing for pleasure, plus ... |
|
 Why did America drop the Atom bomb ? |
| With only 5 days left to the end of the second war why was it seen as neccessary to drop two atomic bombs on Japan ? weren't they going to surrender anyway ?... |
|
 Can I claim my girlfriend on w-4? |
| We've been living together for two years. we rent a house. She makes about $13,000 a year, and I make a little more. Can I put 2 dependents, myself and her, if she puts 0 dependents. Also can ... |
|
 Different between USPS and UPS? |
| I would like know what's the different between USPS and UPS?... |
|
 I have a question about my tax filing status...? |
| I got married about a year ago. I haven't changed my filing status yet to married. I want to know what will happen to my weekly check if I change it to married. Will it go up or down? Is it a ... |
|
 I KNOW THIS SOUNDS STUPID BUT HOW DO YOU FIGURE OUT THE TAX FOR a BILL.? |
| for example if my check came up to $17.45 how dou u figure the tax. i know that tax is 8.25 percent. so help me guys!... |
|
|  |
lisac | Why does Texas not have a State Income Tax? |
Just wondering |
 |
 
Soror Kate ART VT
 |
There are a total of 5 states that do not have an income tax. These states have chosen not to penalize their residents for working hard and earning money. Instead, they tax residents on the things that they purchase, allowing citizens to have some control over what they pay - spend less, pay less in taxes. Like Albert Einstein said "the hardest thing in the world to understand is the income tax".
These states are... Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. In addition, New Hampshire and Tennessee only tax residents on Interest and Dividend income, not wages or self-employment income. Kudos to all these states! |
|
Michael C
 |
Texas funds itself mostly through sales tax and property taxes as well as through a few other sources (lottery, etc).
Frankly, any politician that proposed a state income tax here would be run out of office in a hurry. It would be political suicide (even though it might be a good idea) |
|
Diane M
|
Because their residents choose not to have one. They have other taxes rather than income tax to generate income for the state. |
|
TaxGurl
|
There are a few states that don't have them.
However, there are a lot of toll roads where I live so I end up paying one way or another. It may not come out of my paycheck but it comes out of my wallet. |
|
Gary
 |
I guess Texas does not have a state income tax law. However, I know Texas does have sales taxes and property taxes. |
|
ebony_texan
|
When they made the Texas consitution, they decided against a state tax. I tried to find the specific reason, but it all sounded like a bunch of legal mumbo jumbo:
"Texas does not have a personal income tax. Section 24 of the article, added by an amendment adopted in 1993, restricts the ability of the Legislature to impose such a tax. Under the section, a law imposing a personal income tax must be ratified in a state-wide referendum to take effect; any further change in the tax must also be ratified to take effect, if it would increase the "collective liability" of all persons subject to the tax. The proceeds from the tax must first be used reduce local school property taxes, with any remainder being used for the support of education.
No such restriction exists on imposition of a corporate income tax or similar tax; in May 2006 the Legislature replaced the existing franchise tax with a gross receipts tax." |
|
mikeeyman
|
Each state is different. In a state like California, spending is so high, that they have to have an income tax.
Typically states that have no income tax have a high sales tax instead. |
|
stephenweinstein
|
Texas and Alaska have (or had) a large amount of oil and decided to obtain their revenue from the oil industry instead of a personal income tax. Other states do not have enough oil to do this, so most have a personal income tax. |
|
KJV study
 |
because everything is bigger in
"Taxes"? lol |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 17 minutes(s) ago
| | | |
9 | 32 minutes(s) ago
| | | |
9 | 53 minutes(s) ago
| | | |
9 | 1 hour(s) ago
| | | |
9 | 5 hour(s) ago
| | | |
9 | 7 hour(s) ago
| | | |
9 | 10 hour(s) ago
| | | |
9 | 1 day(s) ago
| | | |
9 | 4 day(s) ago
| | | |
9 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Taxes 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
