federal state and local tax (SALT) deduction is an itemized deduction that allows taxpayers to deduct certain taxes paid to state and local governments...

income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits...

minimum taxable income (AMTI) is calculated by taking the ordinary income and adding disallowed items and credits such as state and local tax deductions, interest...

tax law, itemized deductions are eligible expenses that individual taxpayers can claim on federal income tax returns and which decrease their taxable...

income tax collected by the United States, most individual U.S. states collect a state income tax. Some local governments also impose an income tax, often...

States tax law, the standard deduction is a dollar amount that non-itemizers may subtract from their income before income tax (but not other kinds of tax, such...

interest, state taxes, contributions to charity, and some other items. Some deductions are subject to limits, and an Alternative Minimum Tax (AMT) applies...

United States has separate federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property...

Corporate tax is imposed in the United States at the federal, most state, and some local levels on the income of entities treated for tax purposes as...

itemize deductions, limiting deductions for state and local income taxes and property taxes, further limiting the mortgage interest deduction, reducing...

Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. This tax may be imposed...

Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income...

public. Most States require the Federal tax exemption approval via a "determination letter" to apply to become State tax exempt. The steps required to become...

There are over 800 various forms and schedules. Other tax forms in the United States are filed with state and local governments. The IRS numbered the...

estate". Certain deductions from the "gross estate" are allowed to arrive at the "taxable estate". The "gross estate" for federal estate tax purposes often...

Sales taxes in the United States are taxes placed on the sale or lease of goods and services in the United States. Sales tax is governed at the state level...

amount in itemized deductions. Amounts in excess of this are taxed at the rates in the above table. Separately, the tax on collectibles and certain small business...

because the tax was categorized as a fee, it could not be claimed as a deduction on other states' tax returns. Because of the quirks of the tax, some players...

the individual in the listed country. The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate...

In the United States tax law, an above-the-line deduction is a deduction that the Internal Revenue Service allows a taxpayer to subtract from his or her...

those of lower tax rates and itemized deductions, are based on levels of AGI. Many states base state income tax on AGI with certain deductions. Adjusted gross...

the first $7,000 of residential homestead from property taxes. Colorado allows a 50% deduction for up to the first $200,000 (equivalent to a $100,000 exemption...

most state, and some local governments. Taxes withheld include federal income tax, Social Security and Medicare taxes, state income tax, and certain other...

a direct tax. The Sixteenth Amendment to the United States Constitution did not create a new tax. Taxes were low at the local, colonial, and imperial...

individual United States taxpayers. It provides preferential tax rates and a larger standard deduction for single people caring for qualifying dependents. To...

California Franchise Tax Board (FTB) administers and collects state personal income tax and corporate franchise and income tax of California. It is part...

Priorities stated that three-quarters of taxpayers pay more in payroll taxes than they do in income taxes. FICA is subject to neither the standard deduction nor...

income tax audit is the examination of a business or individual tax return by the Internal Revenue Service (IRS) or state tax authority. The IRS and various...

tax deductions and credits are denied where for illegal bribes, illegal kickbacks, or other illegal payments under any Federal law, or under a State if...

State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income...