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This data is collected by the United States Census Bureau for state governments during fiscal year 2012. These statistics include tax collections for state governments only; they do not include tax collections from local governments. [3] % represents the proportion of total taxes from that category and not the tax rate.
Schedule D also requires information on any capital loss carry-over you have from earlier tax years on line 14, as well as the amount of capital gains distributions you earned on your investments.
Wisconsin adopted a corporate and individual income tax in 1911, [152] and was the first to administer the tax with a state tax administration. The first federal income tax was adopted as part of the Revenue Act of 1861. [153] The tax lapsed after the American Civil War.
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
Tax Filing Dates for Tax Year 2021: Individuals, Corporations and Partnerships. Tax Year. Individual Tax Filing Deadline. Corporations. Partnerships. 2021. April 18 ...
The federal government uses a fiscal year from Oct. 1 to Sept. 30, so companies doing a lot of business with the government may adopt a similar fiscal calendar.
Schedule E (tax on employment income) [2] Later a sixth Schedule, Schedule F (tax on UK dividend income) was added. The Schedules under which tax is levied have changed. Schedule B was abolished in 1988, Schedule C in 1996 and Schedule E in 2003. For income tax purposes, the remaining Schedules were abolished in 2005.
Flat tax, an income tax where everyone pays the same tax rate. Gift tax, a tax on gifts given (generally paid by the person making the gift, not by the recipient). Gross receipts tax, a tax on revenues received by a corporation, even if they don't profit. Hall–Rabushka flat tax, a flat tax on income that excludes investments.