When it comes to filing taxes in the United States, we usually hear about federal income taxes and state income taxes, but we rarely hear about local income taxes. Compounding the problem is the fact that most tax preparation software and even some professional accountants rarely focus on local income taxes, which may lead to …
Monthly Archives: October 2023
Navigating the Maze: State-Level Tax Residency Rules and Mutual Tax Treaties
Tax residency is a concept that lies at the core of an individual’s tax obligations. For most people, it’s relatively straightforward: you reside in a particular place, and that place’s tax laws apply to your income. However, the nuances of tax residency become considerably more complex when you factor in multiple states and the influence …
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Certificate of Good Standing: what is it good for?
A Certificate of Good Standing, sometimes known as Certificate of Status or Certificate of Existence, is a state-issued document confirming that a given business entity is in “good standing” with the state. This means that the entity has been properly registered with the state, is up to date on paying all required state registration fees …
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