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      September 22, 2018

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Tax Relief in Washington

Washington MapAlong with the states of Texas and South Dakota, the residents of state of Washington are fortunate in that they do not have to pay personal income tax. Personal income tax refers to a tax imposed on an individual’s income earned in the form of a salary or wage or through banks, notes, and stocks. Washington is one of the nine states, in the U.S., that do not impose a personal income tax. The state government also goes one step further by not levying a corporate income tax. The bulk of the taxes collected to run the government, manage schools (and such) comes from property taxes — which forms 30% of all the taxes collected— and sales tax.

The results of the Census ACS 1-year survey show that the median household income value of residents in the state of Washington had a value of $58,405. This means that the household income in the state is $6,155 higher than that of US. However, ten years before, it averaged out at $58,781.

Decreased income, a recession, and low minimum wages have forced many residents to become tax delinquent. More and more people are looking for tax relief solutions every day. A tax relief company will have programs that use strategies like negotiated penalty abatement, audit representation and reconsideration, and tax return amendment and review to bail their clients out of tax debt. Owing money to the IRS or State tax entities can lead to severe penalties and tax relief companies offer a way out.

 

Sioux Falls tourism group faces $220K loss amid tax mix-up

the state's electronic filing system has been modified to not allow non-hotels to file lodging taxes. Restaurants have also been informed of proper filing requirements. Copyright © 2018 The Washington ...

Published:  Sat, 22 Sep 2018 12:18:00 GMT



Republicans stunned to learn voters understand exactly what their tax cut did

The result was fueled by self-identified independent voters who said by a 36-point margin that large corporations and rich Americans benefit more from the tax law - a result that was even more lopside...

Published:  Fri, 21 Sep 2018 09:05:00 GMT



MLB: Dodgers and Yankees still under luxury tax threshold; Red Sox, Nationals over

The New York Yankees are set to achieve their goal of coming under baseball's luxury tax threshold for the first time since the penalty started in 2003. Boston and Washington remain the only teams on ...

Published:  Thu, 13 Sep 2018 00:05:00 GMT



Washington Voters to Consider a Carbon Tax-Again

In Washington state, carbon taxation is the idea that's not going away. After a purportedly revenue-neutral carbon tax was defeated decisively at the polls in 2016, and the governor's revenue-positive ...

Published:  Thu, 13 Sep 2018 06:38:00 GMT



Next week: House wants to vote on spending and taxes, then go home

Before leaving Washington, Republicans next week will approve a set of tax reform measures they hope will bolster their economic message to voters. The trio of bills, on the schedule for late in the w...

Published:  Fri, 21 Sep 2018 22:23:00 GMT



Trump said his tax cuts would bring $5 trillion into the U.S. We have 97 percent to go.

This saved on taxes in two ways: Companies could deduct the interest they were paying on their borrowing, and if they could persuade Washington to give them another tax repatriation holiday, like the ...

Published:  Wed, 19 Sep 2018 08:41:00 GMT



Yankees set to avoid luxury tax; Red Sox, Nationals only teams over threshold

The Boston Red Sox and Washington Nationals remain the only teams on track to pay the tax this year, according to Aug. 31 figures compiled by the commissioner's office for clubs and obtained by The As...

Published:  Wed, 12 Sep 2018 17:40:00 GMT



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