California SUI tax is the state's unemployment insurance tax. California SDI tax is state disability insurance tax. SUI tax provides insurance such that if an employee is fired or otherwise unemployed through no fault of his own, he is able to draw unemployment benefits. The SDI tax financially compensates an employee who can no longer work due to injury or illness.
In most cases, employers and employees both pay SUI/SDI taxes to the state. The tax rates for each are determined by the state and may vary depending on the employer and the amount of money the employee makes per year. The taxes paid for SUI/SDI do not subsidize state-mandated employee training programs. In California, the Employment Training Tax (ETT) is a separate withholding, which in, 2014, amounts to 0.1 percent of the taxable wage limit of $7,000. Both SUI and SDI are subject to a wage limit. For 2014, the California state disability tax is 1 percent of all wages up to $101,636 per employee, per calendar year. This means that the most amount of money the state of California can take for SDI from an employee's pay is $1,016.36. The California SUI wage base is $7,000, and tax percentages vary from 1.6 to 6.2 percent, depending on the employer's state assigned percentage.Learn More
The largest portion of local government tax revenue in the United States comes from residential and commercial property taxes. Overall, local governments obtained more than 75 percent of their fiscal year 2010 tax revenues from property taxes, as reported by the U.S. Census Bureau. During that same fiscal year, New Hampshire was the state whose local governments relied most heavily on property taxes, with New Jersey and Vermont in second and third place, respectively.Full Answer >
Back taxes can be filed for up to 10 years after the tax year in which the resident neglected to file income taxes, according to ETaxes.com. After 10 years, the statute of limitations runs out for the Internal Revenue Service to collect back taxes in most states. In a few states, the statute of limitations never runs out, meaning back taxes can be filed at any point in the resident's life.Full Answer >
As of 2015, the fees for preschool are not tax deductible, but parents who work or go to school may be eligible for the child care credit on their taxes. The child care credit covers any fees for child care, including day care, preschool, before- and after-school programs for older kids, nannies and babysitters.Full Answer >
The federal government levies no inheritance tax, reports Bankrate. Federal estate tax is levied on gross estates worth more than $5.43 million as of 2015, and the complex returns should be handled by both attorneys and Certified Public Accountants or Enrolled Agents, according to the IRS.Full Answer >