Content Related To 'Tax Law'

Illegal drugs taxed in North Carolina

North Carolina 105-113.107. Excise tax on unauthorized substances. Controlled Substances. – An excise tax is levied on controlled substances possessed, either actually or constructively, by dealers at the following rates: At the rate of forty cents (40) for each gram, or fraction thereof, of harvested marijuana stems and stalks that have been separated from and […]




Oct. 22, 1986: President Reagan signs the Tax Reform Act to simplify the tax code

On Oct. 22, 1986, President Reagan signed the Tax Reform Act of 1986 in order to simplify the nation’s income tax code. The act, which remains the biggest single tax-code simplification, eliminated 11 tax brackets and shifted the tax-paying burden from individuals to companies. The act also removed the tax incentive that encouraged real-estate investment […]




COLUMN: The Law in Real Life: Feds Tax Reality Show Winnings but Otherwise Do Not Regulate Survivor and Other Competitive Shows

COLUMN: The Law in Real Life by Linda Holmes, J.D. Feds Tax Reality Show Winnings but Otherwise Do Not Regulate Survivor and Other Competitive Shows <!– Oct. 22, 2008 –> In the nearly eight years since Richard Hatch became the first winner of Survivor, he has done a variety of things. He appeared on Late […]




Tax

Tax Websites General Taxsites.com – Comprehensive directory of links to tax, accounting, and payroll. ABA Tax Links Index – Links to federal, state, and miscellaneous tax sites. Digital Accounting Collection – Full text access to over 1,000 accounting pamphlets, journals, and other materials. Federal & state tax Legalbitstream – Full text of U.S. tax cases, […]




Estate Tax Law

Lea en español Estate or Inheritance Taxes in the United States In the United States, the transfer of property (including money) pursuant to a will, under the laws of intestacy, or otherwise as a result of death, will subject the recipient to potential liability for estate or inheritance taxes. The Federal Estate Tax Federal law […]




Federal Income Tax Law

Lea en español The Scope of Federal Income Tax Law Pursuant to ratification of the 16th Amendment to the U.S. Constitution in 1913, Congress was given the power to collect a tax on “incomes, from whatever source derived, without apportionment among the states, and without regard to any census or enumeration.” Under the Internal Revenue […]




Tax Consideration for Individuals

Lea en español Exclusions from Taxable Income Under the Internal Revenue Code, individual taxpayers may exclude certain money received from taxable income. The most common exclusions are: Gifts: A gift is generally not considered taxable income for the recipient. Federal law, however, set an annual limit on how much you may receive as a gift from […]




Tax Considerations for Businesses

Lea en español Business Taxes Based on the legal form you choose for a business or commercial enterprise, your tax obligations will vary: Sole Proprietorship: A sole proprietorship is a business that is owned by one person and that has not been set up as a corporation. For tax purposes, the income and expenses from the […]




Tax Law

Lea en español While taxes are, for most of us, an unavoidable part of life, there are legitimate ways that you can minimize the burden. Whether its state or federal income tax, a levy on the sale of goods or property, or an estate or inheritance tax, the more you know, the more likely you’ll […]