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  2. Your bank will calculate your monthly payments based on the loan amount, interest rate and repayment term. Bank Fees Banks can charge various fees for services, account maintenance and late payments.

  3. Annual percentage rate - Wikipedia

    en.wikipedia.org/wiki/Annual_percentage_rate

    The nominal APR is calculated by multiplying the interest rate for a payment period by the number of payment periods in a year. [3] However, the exact legal definition of "effective APR", or EAR, can vary greatly in each jurisdiction, depending on the type of fees included, such as participation fees, loan origination fees, monthly service charges, or late fees.

  4. Franchise tax - Wikipedia

    en.wikipedia.org/wiki/Franchise_tax

    The physical presence test is based on Quill Corp. v. North Dakota, ( 504 U.S. 298 (1992)), a United States Supreme Court ruling concerning use tax.Quill Corporation is an office supply retailer.

  5. Corporate tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Corporate_tax_in_the...

    Such returns are a self-assessment of tax. Corporate income tax is payable in advance installments, or estimated payments, at the federal level and for many states. Corporations may be subject to withholding tax obligations upon making certain varieties of payments to others, including wages and distributions treated as dividends.

  6. Gross receipts tax - Wikipedia

    en.wikipedia.org/wiki/Gross_receipts_tax

    Pennsylvania - Either 5% or 5.9% for most applicable industries. Tax stands at 1% for private bankers, and the tax on natural gas was repealed during the industry's deregulation. [ 12 ] The City of Philadelphia additionally imposes a Business Income and Receipts Tax, a portion of which is based on gross receipts.

  7. Partnership accounting - Wikipedia

    en.wikipedia.org/wiki/Partnership_accounting

    Management fees, salary and interest allowances are guaranteed payments. The partnership generally deducts guaranteed payments on line 10 of Form 1065 as business expenses. If partners pay themselves high salaries, net income will be low, but it does not matter for tax purposes.

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