- Does an LLC Protect a Sole Proprietor from a Tax Warrant in Kansas?by US Tax AnswersForming a Limited Liability Company (LLC) can offer certain protections to business owners by separating personal assets from business liabilities. However, when it comes to tax warrants in Kansas, the extent of this protection can vary based on several factors, … Read more
- Does Alabama Charge Tobacco Tax?by US Tax AnswersYes, Alabama charges taxes on tobacco products. The state imposes excise taxes on cigarettes, cigars, and other tobacco products to generate revenue and promote public health by discouraging tobacco use. Alabama Tobacco Taxes 1. Cigarette Tax 2. Other Tobacco Products … Read more
- Do I Pay Ad Valorem Tax in Florida?by US Tax AnswersYes, if you own property in Florida, you are generally required to pay ad valorem taxes. In Florida, ad valorem taxes are property taxes based on the assessed value of real estate and certain types of personal property. These taxes … Read more
- Does Florida Have Appliance Sales Tax?by US Tax AnswersYes, Florida imposes sales tax on the sale of appliances. Appliances are considered tangible personal property and are subject to Florida’s state sales tax rate of 6%, plus any applicable discretionary sales surtax imposed by counties. Detailed Explanation 1. Sales … Read more
- When will the California exit tax take effect?by US Tax AnswersThere is no California exit tax scheduled to take effect. While there have been legislative proposals to implement an exit tax or wealth tax in California, none have been enacted into law. Here’s a brief overview: Legislative Proposals Current Tax … Read more
- How can I prevent a property tax reassessment in California?by US Tax AnswersIn California, property tax assessments are primarily governed by Proposition 13, which limits annual increases in assessed value to a maximum of 2%, unless a change in ownership or new construction occurs. To prevent a property tax reassessment and maintain … Read more
- What is the property tax exemption for individuals over 65 in Florida?by US Tax AnswersIn Florida, homeowners aged 65 and older may be eligible for additional property tax exemptions beyond the standard homestead exemption. These senior-specific exemptions aim to reduce the property tax burden for elderly residents, particularly those with limited incomes. 1. Additional … Read more
- What is a state tax lien?by US Tax AnswersState tax lien is a legal claim placed by a state government on a taxpayer’s property due to unpaid state taxes. It serves as a security interest for the state to ensure the collection of back taxes owed by an … Read more
- How can I avoid property tax reassessment under California Proposition 19?by US Tax AnswersCalifornia’s Proposition 19, effective February 16, 2021, introduced significant changes to property tax reassessment rules, particularly affecting transfers between parents and children. To avoid property tax increases due to reassessment under this proposition, it’s essential to understand the new regulations … Read more
- What is California death tax?by US Tax AnswersCalifornia Death Tax refers to taxes imposed on the transfer of assets upon an individual’s death. These taxes typically come in two forms: estate taxes and inheritance taxes. As of my knowledge cutoff in September 2021, California does not impose … Read more
- Are utilities taxed in Washington State?by US Tax AnswersYes, utilities are taxed in Washington State. The state imposes a Public Utility Tax (PUT) on the gross income of utility businesses operating within its borders. This tax applies to businesses providing services such as electricity, water, natural gas, sewage … Read more