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The business and occupation tax (often abbreviated as B&O tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, [1] and by municipal governments in West Virginia and Kentucky. [2] It is a type of gross receipts tax because it is levied on gross income, rather than net income.
New Mexico - The gross receipts tax rate varies throughout the state from 5.125% to 8.6875% with local option taxes imposed at the city and county levels, added to the statewide base tax rate of 5%. [9] Oregon - Oregon levies a Commercial Activity Tax on businesses with more than $1 million of taxable revenue per year. This tax is equal to $250 ...
Businesses with annual taxable gross receipts in excess of $1 million are subject to the annual minimum CAT of $150 plus apply a CAT effective rate of .26% on receipts above $1 million on a quarterly basis (with a $250,000 quarterly exclusion). [229] Ohio is #24 in average property taxes at 3.016% of personal income, but the taxes vary by city ...
For companies on a calendar quarter, Q2 brings the all-important tax deadline for the prior year of April 15. It also includes the mid-point of the year, which is a great time to look both forward ...
You anticipate the withholding and tax credits will be less than 90% of your estimated tax liability for 2022 or 100% of your 2021 year tax liability (assuming it covers all 12 months of the year).
The new school year is right around the corner. With it comes back-to-school shopping and Ohio’s annual tax-free weekend.. This year’s holiday will take place this weekend, Aug. 4-6.
The Ohio Department of Taxation is the administrative department of the Ohio state government [1] responsible for collection and administration of most state taxes, several local taxes and the oversight of real property taxation.
State corporate tax return due dates vary, but most are due either on the same date or one month after the federal due date. Extensions of time to file are routinely granted. [85] Penalties may be imposed at the federal and state levels for late filing or non-filing of corporate income tax returns. [86]