Business taxpayers who make business-related payments to charities or government entities for which the taxpayers receive state or local tax credits can generally deduct the payments as business expenses, the Internal Revenue Service said today.
The U.S. Supreme Court has given states broad authority to require online and other remote sellers to collect sales taxes. And it has largely ended decades of uncertainty over the ability to states to collect taxes on online sales.
Recent years have seen an explosion of other taxes. They represent only a small fraction of total state and local revenue, but the growing interest on the part of government officials is undeniable. What are they, and what accounts for them?