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Subjects>Business>Accounting

What are federal and state taxes used for?

Updated: 9/24/2023

Liljamba ∙

Lvl 1

∙ 10y ago

Best Answer

The federal government collects taxes to finance various public services. This paper were constructed on the basis of classifications commonly used by budget agencies.

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∙ 10y ago

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Continue Learning about Accounting

Does TurboTax do all federal state AND local taxes?

Yes, TurboTax has the capabilities of doing both federal and state income taxes. If you choose the free version for the federal taxes you will have to pay a fee to complete the state taxes.

Do you have to send a copy of the state taxes with my federal taxes?

No

Are state taxes deductible for federal corporate income taxes?

Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.

Which state has no sales and federal taxes?

delaware

Do federal taxes vary depending on the state?

No.

Related questions

Does TurboTax do all federal state AND local taxes?

Yes, TurboTax has the capabilities of doing both federal and state income taxes. If you choose the free version for the federal taxes you will have to pay a fee to complete the state taxes.

What are federal estate taxes?

Federal state taxes are taxes to be paid to the federal government on owned property. Theses taxes are to be paid once a year.

Are social security taxes state taxes?

Social Security is a federal program. It is a federal "tax" not a state tax.

Do you have to send a copy of the state taxes with my federal taxes?

No

What is mandatory deductions?

state taxes, federal taxes, and local taxes.

Can additional federal taxes paid in 2007 for tax year 2006 modify your state taxes for 2007 taxes?

No. While State taxes are a deduction to Federal income and hence may change your tax due to the Feds, your Federal tax does not effect your State taxes in any year.

Do you pay state and federal taxes on state pension?

no

Are state taxes deductible for federal corporate income taxes?

Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.

Can fed take my taxes if i owe state?

if i owe federal taxes will they take my state refund

Which state has no sales and federal taxes?

delaware

Do federal taxes vary depending on the state?

No.

Do they garnish both state and federal taxes for back child support?

If you owe back child support then both state and federal taxes can be intercepted.

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