Which of the following is true about state and local income tax? A. Pre-tax deduction rutes for

Question:

Which of the following is true about state and local income tax?

A. Pre-tax deduction rutes for federal income tax are generally the same for state and local income taxes.

B. Nine states do not have a personal income tax on earnings.

C. All localities levy income taxes on employees.

D. State income tax computations vary among states.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Payroll Accounting 2017

ISBN: 978-1259572180

3rd edition

Authors: Jeanette Landin, Paulette Schirmer

See More Books

Question Posted: Nov 22, 2018 09:20 AM

See More Questions

Which of the following statements are true about state and local income taxes? (Select all that apply) A. All states tax employee earnings. B. State tax rates on employee earnings vary among states...
Choose the best answer. 1. Jan and Dean decided to form a charitable organization, I Love Rock N Rollers, to provide funding to assist former rock and roll group members who have become homeless....
John R. and Anne L. Miller are married and live at 13071 Sterling Drive, Aitkin, MN 56431. John is a self-employed insurance claims adjuster (business activity code 524290), and Anne is the dietitian...
Write a static method lg() that takes an int argument n and returns the largest integer not larger than the base-2 logarithm of n. Do not use the Math library.
In reviewing the PLE data, Elizabeth Burke noticed that defects received from suppliers have decreased. Upon investigation, she learned that in 2010, PLE experienced some quality problems due to an...
On January 1, 20X1, Nicks Corporation issued $250 million of floating-rate debt. The debt carries a contractual interest rate of LIBOR plus 5.5%, which is reset annually on January 1 of each year....
The three bars are made of A-36 steel and form a pin-connected truss. If the truss is constructed when T 1 = 50F, determine the force in each bar when T 2 = 110F. Each bar has a cross-sectional area...
Accounts Payable Confirmations. Partners Clark and Kent, both CPAs, are preparing their audit plan for the audit of accounts payable on Marlboro Corporations annual audit. Saturday afternoon they...
The Refining Department of SweetBeet, Inc. had 72,000 tons of sugar to account for in July. Of the 72,000 tons, 40,000 tons were completed and transferred to the Boiling Department, and the remaining...
Following are age and sex data for 20 midlevel managers at a service company: 34 F, 49 M, 27 M, 63 F, 33 F, 29 F, 45 M, 46 M, 30 F, 39 M, 42 M, 30 F, 48 M, 35 F, 32 F, 37 F, 48 F, 50 M, 48 F, 61 F. A...
What are the four different pay methods?
What are advantages and disadvantages of paycards?
Do you believe that this focus implies that the balance sheet is more important than the income statement? Explain.
n the context of international relations, how does bureaucratic diplomacy impact cross-border cooperation and treaty compliance?
Inland Steel has two profit centers: Ingots and Stainless Steel. These profit centers rely on services supplied by two service departments: electricity and water. The profit centers' consumption of...
What mechanisms can be employed to reduce bureaucratic opacity while maintaining a sufficient level of governance and oversight?
What are the sociological implications of a highly bureaucratized system on the morale and motivation of public sector employees?
Based on the financial statements of Home Depot for the fiscal year that ended January 30, 2022, calculate the following ratios for the last two fiscal years and indicate whether they are getting...
The relevance of variance and covariance developed for random variables in this chapter carries over to the analysis of returns on real stocks. The file daily_stocks includes the daily percentage...
Bonus shares can be issued out of revenue reserves. True/False?
Garrett Hudson earned $895 this week. The deductions from his pay were as follows: Hudsons employer just received a garnishment order (credit card debt of $2,140) against his pay. Compute the...
Carmen Santos is owner and sole employee of CS Corporation. He pays himself a salary of $2,400 this week. Record the payroll entry and payroll tax entry for the pay of the week ended June 2 (his...
On December 29, 2017, Santucci Company has a balance of $619.24 in the FUTA taxes payable account. This repre- sents the employers liability for the fourth quarter taxes. Journalize the entry...
Q5 Financial maths Initial investment: E 25,000 Year 1 return: 8,000 Year 2 return: E 15,000 Year 3 return: E Year 4 return: E 10,000 5,000 (i) Enter appropriate formulae in the shaded cells in the...
The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal year: Units to be produced 1st Quarter 10,000 2nd Quarter 7,500 3rd...
Annswer the following questions: [10 marks] A. Define two of the main advantages of explicit architecture. B. Compare between (1) Model-View-Controller (MVC), (1) Layered architecture pattern. The...

Which of the following is true about state and local income tax? A. Pre-tax deduction rutes for

Question:

Step by Step Answer:

A Pretax deduction rules for federal incom...View the full answer

Payroll Accounting 2017

Students also viewed these Business questions