study committee report on payments in lieu of taxes and shared revenues
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study committee report on payments in lieu of taxes and shared revenues submitted to the Commission on Intergovernmental Relations. by United States. Commission on Intergovernmental Relations. Study Committee on Payments in Lieu of Taxes and Shared Revenues.

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Published by U.S. Govt. Print. Off.] in [Washington .
Written in



  • United States.


  • Taxation and government property -- United States.

Book details:

Edition Notes

Other titlesPayments in lieu of taxes and shared revenues.
SeriesU. S. Commission on Intergovernmental Relations. Publications., v. 9
LC ClassificationsHJ2338 .U512
The Physical Object
Paginationix, 197 p.
Number of Pages197
ID Numbers
Open LibraryOL6192988M
LC Control Number55061470

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Study Committee on Payments in Lieu of Taxes and Shared Revenues. Abstract The ACIR Library is composed of publications that study the interactions between different levels of government. Includes extracts from report "Payments in Lieu of Taxes and Shared Revenues," submitted to Commission on Intergovernmental Relations by the Study Committee on Payments in Lieu of Taxes and Shared Revenues, June, (p. ).Record is based on bibliographic data in CIS US Congressional Committee Hearings Index. The IRS requires study payments of $ or more to be reported on tax returns. Reimbursements, or payments based on receipts to cover expenses incurred by the participant because of their clinical trial participation (most often travel-related) are excluded from this requirement. These out-of-pocket expenses are not considered taxable income. The Tennessee Department of Revenue makes payments of state-shared revenues to all Tennessee municipalities based on population. MTAS tracks the monthly revenues reported by the Department of Revenue and uses those along with estimates to forecast .

  Report all your estimated tax payments on Schedule 3 (Form or SR) (PDF). Also include any overpayment that you elected to credit from your prior year tax return. Additional Information. Publication , Tax Withholding and Estimated Tax. Instructions for . Excludes: Taxes measured by gross or net income, units of service sold, value of property (report previous items at appropriate tax code related to the type of measurement concerned); and payments-in-lieu-of-taxes received from other government-owned utilities (report at Intergovernmental Revenue). Tax revenues: Revenue generated by the taxes levied by the county. Most common are property taxes (assessed ad valorem on property within county borders), sales and use taxes (imposed on sales of goods within the county, or on the use of personal property not subject to a sales tax; also includes taxes related to hospitality), other taxes. Interperiod equity refers to the concept that current-year revenues are sufficient to pay for services provided that year, so that future taxpayers will not be required to assume the burden for services previously provided. A payment made by a city-owned utility to the General Fund of the city in lieu of taxes is an example of an "internal.

total property tax revenue reflects such tax collections received by the government over the full twelve months of its fiscal year. As discussed in Chapter 3, governments often report revenue, and keep their official accounting records, in terms of a modified accrual form of accounting. State Sales Tax The state sales and use tax is 7 percent (except for food, on which the rate is 4 percent), plus an additional percent on the portion of the purchase price of single articles subject to local sales taxes from $1, through $3,   Federal revenues come largely from individual income taxes and payroll taxes, with corporate income taxes and other taxes playing smaller roles. CBO projects future federal revenues under current law, estimates the distribution of income and federal taxes, and analyzes the effects of various features of the federal tax system and potential changes to that system.   A Conference Committee later resolves any differences between the House and Senate versions of the bill and issues its own report Committee Reports are useful tools in determining Congressional intent behind certain tax laws and helping examiners apply the law properly." (Committee Reports, IRM § ).