Us winnings tax

What taxes do firms pay

To basic taxes, paid by companies, relate:

Regional and local governments may levy taxes on: capital gain, on retained earnings, on property, for mining, ecological, etc..

Besides, every company, serving as an employer, must register at all levels of government and pay deductions from the payroll – to regional and federal unemployment funds.

Different types of companies pay different types of taxes in the United States, and are also entitled to various deductions and benefits

therefore, especially at the planning stage of starting a business, it is important to thoroughly understand the taxation mechanism

What to do, if the win is too big

The tax rate does not depend on the size of the win.

But, if the win is over 15 000 Р, possibly, you do not have to account for it and pay tax yourself. You will be reported and paid, if you won a Russian lottery or a legal bookmaker. Promotions organizers will report and pay for you regardless of the size of the win.

You won the lottery 1 000 000 Р. You don't have to submit a declaration and pay nothing. In this case, the lottery organizer is the tax agent. He will pay you 870 000 R and will report to the tax.

You have won the casino jackpot - 10 000 000 Р. To 30 April next year, you declare them yourself, and to 15 July pay 1 300 000 Р. If you lose money back, you owe the state. Therefore, it is better to immediately postpone the amount of taxes and not touch it until the moment of payment. for instance, open a savings account: then you will earn some extra money on interest.

The table of countries with the highest taxes

Countries with the highest taxes in the world

Table with the average tax rate in the world

List of countries with the highest income taxes:

1. Aruba. The tax rate is 58,95 %. This rate includes social tax, which the, in its turn, includes:

• Pension contribution. Paid by the employer, and workers. The employee is obliged to deduct 4 %, and the employer pays 9,5 %.
• Insurance fee. Also paid by the employer in the amount 8,9 % and hired workers in the amount 2,6 %.

1. Sweden. The rate of income tax payment is 56,6 %, of which 7 % Is a social contribution.
2. Denmark. Rate - 55,4 %. To 2008 year in Denmark, an income tax rate of 62,3 %, but the government decided to reduce the tax. In the country, it is almost impossible to avoid paying tax payments. Even the church is taxed, which deducts to 1,5 % of income.
3. Netherlands. The rate of income tax payment is 52 % (previously this tax reached 72 %). In addition to income tax payment, citizens of the country are obliged to deduct land use tax in the amount 6 % and inheritance tax in the amount 40 %.
4. Belgium. Tax rates:

• Income - 50 %.
• Social contribution - 13 %.
• Municipal - 11 %.

1. Austria and Japan. The amount of income tax in these countries is 50 %.
2. Finland. Previously, the flat rate was 53,5 %, but in 2004 year, by decision of the government, the taxation of individuals decreased to 49,2 %.
3. Ireland is one of the countries with the highest income tax rate, which is equal 48 %. Recall, that this rate is much higher than the average income tax in the entire northern part of Europe, which equals today 40 %.

Tax dependence on income in Ireland

1. Great Britain. The country's government in 2010 year, it was decided to increase the income tax rate by 10 % (at 2010 year, the rate, taking into account the increase, was 50 %). But the promotion did not pay off, and s 2013 years it equals 45 %, that is, it became lower by 5 %.

Social and medical contributions

In addition to income tax on wages, all residents pay:

Half of these deductions (6,2% Social Security Tax и 1,45% Medicare) paid by the employer, the remaining half - the employee himself.

At the same time, there are a number of peculiarities when calculating these payments. for instance, employers are required to withhold and remit additional health care tax in the amount of 0,9%, if the employee's salary during the calendar year exceeds 200 thousand. dollars.

AT 2020 the base salary limit is $137700.

When calculating Social Security Tax, keep in mind that there is a basic wage cap. This is the maximum amount, which is taxed for the current year. It means, that the entire amount of salary in excess of this figure is not subject to social tax.

One side, no one wants to pay excess taxes, on the other hand, underpayment threatens serious consequences, including criminal. Therefore, all applicable deductions and benefits must be legally justified and verified..