Ebaines said:However, I just wanted to clarify that corperations are separate legal entities under the law, and therefore subject to taxation in their own right. This is probably the only drawback to incorperating as a business: double taxation (you must pay both individual taxes and corperate taxes).
Double taxation is true of C corperations, but not true of S Corps or LLCs. Both of these type companies pass all profit or loss into the name of the stockholders for tax purposes. In fact, All profit from these these companies is also FICA tax free. Saving you over 15% taxes.
I never thought that Accounting degree would come in handy.
This one says it's taxed to, and PAID BY, the MANUFACTURER. That is then passed directly to the consumer.The Energy Tax Act of 1978 established a Gas Guzzler Tax on the sale of new model year vehicles whose fuel economy fails to meet certain statutory levels. The gas guzzler tax applies only to cars (not trucks) and is collected by the IRS. The fuel economy figures used to determine the Gas Guzzler Tax are different from the fuel economy values provided on this web site and the Fuel Economy Guide. The tax does not depend on your actual on-the-road mpg, which may be more or less than the EPA published value. The purpose of the Gas Guzzler Tax is to discourage the production and purchase of fuel inefficient vehicles. The amount of any applicable Gas Guzzler Tax paid by the manufacturer will be disclosed on the automobile's fuel economy label (the window sticker on new cars).
Now that one seems to say that the CONSUMER pays it (and therefore, it's not "passed on" in the purest sense of the words)... it's PAID, not PASSED ON. Of course this webpage links to the FIRST link, and the first link says the manufacturer pays it...Consumers Pay More for Gas Guzzling Automobiles
When purchasing a new automobile which has an EPA gas mileage rating less than 22.5 miles per gallon (mpg), consumers must pay an extra tax called the Gas Guzzler Tax.
Again, this alludes that YOU would have to pay it (not the manufacturer), therefore it's not PASSED ON, it's PAID.A "Gas Guzzler Tax" may need to be paid on your vehicle. These taxes range from $500 to $3,850 per vehicle.
I guess you can call them to find out for sure. Maybe we're just talking semantics here but if you need to answer whether the tax is "passed on" then you need to find out who actually makes out the check to the IRS.Internal Revenue Service
Public Affairs Office
1111 Constitution Avenue, N.W.
Washington, DC 20224
I'll agree with that...while some people may have inherited the money or won the Lottery, that money was originally worked for. it took someone a lot of work to get there. Unfortuntely, I don't think anyone can argue unless they can come up with a better tax plan than what is instated now. I'm not sayig the current plan is GOOD, I personally don't think so, but without a better solution, you can't go around saying it sucks...Spirit said:Yeah, well the top 1% in income pays 50% of all income taxes and I AM one of those people.
It sucks!!! Priviledged bastards?? No priviledge here, I've worked my ass off the get to this point. I've worked longer than alot of the guys on this board have been alive and now the government thinks they are my partner