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What is the statute of limitations on state income tax or federal income tax or sales tax?
Wiki User
∙ 12y ago
First, there are many different SOLs, mainly ones for auditing the info, assesment of the tax and collection of the tax...as you see a progression that added together can be a long time.
Many States simply have none at all for many taxes...and may collect it at any time they can.
Depending on certain things, generally, the audit SOL is normally 3 or 4 years. However, a substantial underpayment, normally more than 25%, can extend that too. And how the days are counted can be a bit strange..but more importantly, that they can be "tolled" (stopped), by many things, most noteably from when the Dept sends a notice, received or not, until you respond for example. filing bankruotcy, leaving the country, many other things toll the SOL. So ignoring them and waiting for the time to run doesn't work.
Sales tax can be even a bit different, because those are trust funds that you hold for the State...the audit periods are normally more like 2 years to notify of an audit to see the proper things were taxed. But if it is a matter of your not payng over what you collected, then it is a criminal matter and a whole other set of rules may be invoked.
Importantly for many is to understand the SOL only starts to run when a return is filed. If you don't file, you are perpetually open and will never time out.
So ignoring them or avoiding them and notices or whatever, and waiting for the time to run doesn't work. Uh...it's been thought of by many before, over many years...do ya really think that's all there is to not paying?
what is the statute of limitations on Virginia state taxes?
Wiki User
∙ 12y ago
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What is the statute of limitations on delinquent sales tax in Louisiana?
This is probably not what you want, but the tax in Louisiana is 9% of what you pay.
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One thing some people may have heard of is "no income tax law." This phrase can actually refer to a few different kinds of law. First, it refers to the law of states that do not tax the income of their citizens. Secondly, it can also refer to federal laws that allow certain individuals to avoid paying federal income taxes. Most states in the US charge a state income tax. This is done to help fund services provided by state governments to their citizens. However, not every state actually has a state income tax. Several don't. These states include Florida, Alaska, South Dakota, Nevada, Texas, Wyoming and Washington. However, there are a few exceptions in these states. Sometimes corporations that reside in these states are still forced to pay state income taxes. This is the case in Florida. A few additional states only charge state income taxes on certain kinds of income. In Tennessee and New Hampshire, the state government only charges income taxes on income produced from either dividends or interest. However, states that have no state income tax make up the revenue it other ways. Sometimes this is done through higher sales taxes. If the cost of living is high enough in a state, a high sales tax can more than make up for not having a state income tax. In other states without a state income tax, this lost revenue may be made up for with high property taxes. This is why a person should be educated on all taxes before moving to a new state. In other cases, "no income tax law" may refer to laws that allow certain individuals to avoid paying federal income taxes. One of the largest groups of these people are those with no income or income so low that no income taxes are applied. However, there are also cases in which individuals with significant levels of income can also avoid paying income taxes. This is due to specific deductions, tax credits and "loop holes" that exist within the tax code that can be taken advantage of. One such example is the earned income tax credit. When this tax credit was introduced into the tax code, it resulted in an extra six percent of income tax filers not having to pay any income taxes at all. The percentage of people who file that don't have to pay income taxes also increased significantly when a child tax credit was introduced under the Bush administration.
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Property tax is an annual assessment that is levied continually. Sales tax is paid when you purchase something and is added to the sales price.
Is there a statute of limitations for unpaid cigarette taxes in NJ if they were not purchased on the Internet?
is there a statute of limitations on sales tax in NJ for cigarette purchases
How lon is the statute of limitations in Georgia for possession and sales of marijauna?
if they already have a warrant for your arrest there is no statute of limitations. SoL does not account for a warrant
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Only the IRS has a 10 year statute of limitations. PA has no statute of limitations on collecting owed taxes of any kind, so they will persist coming after you for as long as they can.
What is the statute of limitations on delinquent sales tax in Louisiana?
This is probably not what you want, but the tax in Louisiana is 9% of what you pay.
Statute of limitations on Indiana unpaid sales tax?
The statute of limitations for taxes in Indiana is 3 years after the tax was due or after the return was filed, whichever is later. So for instance if you have a tax return due April 15, 2005 and the return is filed February 1, 2005 the statue of limitations is April 15, 2008. If the return was filed on June 15, 2005 with the same due date, the statue of limitations would run out on June 15, 2008.
What are Wyoming's laws and statutes regarding felonies and car sales?
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How many years is statute of limitations for sale of goods?
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Statute of limitations on sales tax filing in Michigan?
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I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.
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There is not a limit in Oklahoma. Most jurisdictions do not pass laws that limit their ability to collect taxes.
Is there a statute of limitations on back state taxes?
The Oklahoma Tax Commission says, "No." I'm still trying to find an answer in the tax code or in a judgment. 3 years for sales and use (effectively). OAC 710:65-3-32. 3 years for income. OAC 710:50-5-12.
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