Critics say tax unfairly targets county's poorest.Byline: The Register-Guard The Lane County commissioners say they hope to be fair in determining who pays the income tax and how much they pay. Whether the public will agree the tax is fair remains to be seen. The 1.1 percent tax will not apply to taxpayers who file a joint federal return or as head of household, if they have combined adjusted gross income of $20,000 or less. Also, single filers with $10,000 or less in adjusted income are exempt. Critics say the exemption levels are still too low and the tax will be unacceptably hard on lower-income earners. But the board has said taxpayers in the lowest income bracket Noun 1. income bracket - a category of taxpayers based on the amount of their income income tax bracket, tax bracket bracket - a category falling within certain defined limits income bracket n → - who total one-quarter of Lane County taxpayers - will pay nothing, while people who make more than $100,000 will provide 80 percent of the funding that will be raised under the tax. In addition to the income limits, residents who file singly can take a $7,500 deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. ; residents who file jointly can take a $15,000 deduction. The taxation of retirement income could prove more complicated. The county is barred by law from taxing retirement income from the state Public Employees Retirement System, which includes all county workers and the commissioners themselves. The law also prohibits taxing public-sector workers' federal retirement income. In an effort at fairness, the board won't won't Contraction of will not. won't will not won't will tax some forms of retirement earned in the private sector: qualifying pension and profit-sharing plans Profit-Sharing Plan A plan that gives employees a share in the profits of the company. Each employee receives into an account, a percentage of those profits based on their earnings. Also known as "deferred profit-sharing plan" or "DPSP". , annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. plans, qualified cash or deferred compensation arrangements and 401(k) plans. But the tax would apply to income from individual retirement accounts, or IRAs, including Roth, simplified employee pensions and savings incentive match plans for employees. The tax would apply to businesses with gross income of $25,000 or more annually. The tax code is written to avoid double taxation of business and personal income. The taxes paid on business income in Lane County will be used as credit against taxes collected on personal income. Employers will be required to withhold with·hold v. with·held , with·hold·ing, with·holds v.tr. 1. To keep in check; restrain. 2. To refrain from giving, granting, or permitting. See Synonyms at keep. 3. the tax from workers' earnings. The tax also would apply to people who don't live in Lane County but earn income here over $2,500 annually. - Matt Cooper Matt Cooper may refer to:
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