Tasos Katopodis / Getty Images Earnings not subject to income tax, whether federal or state, are referred to as exempt income. Exempt income is income that's not subject to income tax.

The deadline for low-income homeowners in Philadelphia to apply for a new property tax relief program aimed at preventing families from being displaced by gentrification may be extended until Sept. 30 ...

UBTI is income earned by a tax-exempt entity from activities unrelated to its exempt purpose. Unrelated Business Taxable Income (UBTI) is the income earned by a tax-exempt entity from activities ...

Gavin Newsom’s plan to expand the state’s Film and Television Tax Credit Program. The bills, sponsored by state Sen. Ben Allen and Assembly members Rick Chavez Zbur and Isaac Bryan ...

Mamma Mia, here we go again: Kentucky has lowered its flat income tax rate. The individual tax cut is expected to put $718 million back in Kentuckians' pockets while aiming for the end goal of ...

That will remain the same for tax year 2025 (filing in 2026), but the IRS adjusts the income range for each bracket annually to account for inflation's impact on salaries. Depending on how much ...

What is the Earned Income Tax Credit? The earned income tax credit (EITC) is a federal tax break for low- and moderate-income workers with or without children. Also known as the earned income ...

HMRC is hiring 5,000 extra tax inspectors in a clampdown on small businesses and their owners, according to information disclosed to a committee of Labour Party MPs. The report, HMRC Customer ...

You may owe net investment income tax if you made more than the NIIT income threshold. Many, or all, of the products featured on this page are from our advertising partners who compensate us when ...

In addition to federal income tax, most states also collect state income tax. State income tax typically works one of three ways: a progressive tax, a flat tax or none at all. Many, or all ...

All resident corporations (except tax-exempt Crown corporations, Hutterite colonies and registered charities) have to file a corporation income tax (T2) return every tax year even if there is no tax ...