UNIT 23 study guide - UNIT 23 1) a. Sales and Use tax a....

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UNIT 23 1) a. Sales and Use tax a. Paid by CONSUMERS b. Collected by commercial organizations at the time of sale c. Turned over to state d. Out-of-State purchases usually on the honor-system e. Rates differ widely f. Rules for exemptions differ widely b. Property tax (real estate and personal property) a. Real Estate Taxes b. Personal Property Taxes c. Equipment, Inventories, etc c. Fees a. Car Registrations, License plates, Stickers, etc. b. Business Licenses c. Developer fees, Special Assessments d. Service Fees (water, sewer, garbage, tolls, etc.) d. Import tariffs e. Estate (inheritance) tax a. wills f. Excise tax a. Alcohol b. Cigs g. FICA OASDI a. Federal Insurance Contributions Act Old Age, survivors, and disabilities insurance b. Social Security h. FICA Medicare i. Unemployment tax j. Income tax a. Corporate income b. Personal income 3) Form number, title, and purpose of a. W-4 a. Employees withholding allowance certificate b. W-2 a. Wage and tax statement b.
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This note was uploaded on 01/11/2012 for the course ACTG 241 taught by Professor Staff during the Fall '11 term at James Madison University.

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UNIT 23 study guide - UNIT 23 1) a. Sales and Use tax a....

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