MANAGEMENT

BUISENESS MANAGEMENT

TAXES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Are school taxes based on where you live or where you work?
A
Live
B
Work
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -Generally you pay school district taxes based on where you live, not where you work.

Detailed explanation-2: -These taxes are based on where your employees work and/or live. Certain types of local taxes are only imposed on employers doing business in a locality. Check with your local tax department to see whether they collect any additional employer-paid taxes.

Detailed explanation-3: -No. After you fill out a state tax return for the state where you work, you’ll file a second tax return for the state where you reside. On this return, you’ll report how much your tax liability was on the first state tax return.

Detailed explanation-4: -School District Income Tax Definition School district income tax refers to a special tax earmarked for offering financial support to a school district. This is distinct from other local, state and federal taxes.

Detailed explanation-5: -Individuals always owe municipal income tax to the municipality where they work (this is called “work place tax”), but they may or may not owe income tax to the municipality where they live (this is called “residence tax”).

There is 1 question to complete.