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Updated to add date references on the Line 10 specific instructions. Effective July 1, 2017: Corporations 7 percent of net income. To qualify, you must meet certain requirements and file a tax return, even if you do not owe any tax or are not required to file. Earlier this decade, Iowa enacted one of the largest tax cuts in the state’s history. Updated to clarify how bonus depreciation on luxury automobiles is handled for Illinois filing. The Illinois Earned Income Tax Credit (EITC) is a benefit for working people with low to moderate income that reduces the amount of tax owed and may result in a refund. Gas tax: 24.5 to 30 cents per gallon of regular gasoline, 29.8 to 32.5 cents per gallon of diesel. Updated to clarify Line 10 instructions for filers with tax years on or after. Statement of Person Claiming Refund Due a Deceased Taxpayer Payment Voucher for Amended Individual Income TaxĪutomatic Extension Payment for Individuals Filing Form IL-1040 If you make 70,000 a year living in North Carolina you will be taxed 10,517. Payment Voucher for Individual Income Tax North Carolina Income Tax Calculator 2023-2024. Use this form for payments that are due on April 18, 2023, June 15, 2023, September 15, 2023, and January 16, 2024. 115-97) replaced the graduated corporate tax structure with a flat 21 corporate tax rate. For tax years beginning after 2017, the Tax Cuts and Jobs Act (P.L. Addendum Instructions for taxpayers who received a discharge of indebtedness attributable to student loan forgiveness that is not excluded from the taxpayer’s federal adjusted gross income per Public Act 102‐1112Ģ023 Estimated Income Tax Payments for Individuals Historical Federal Corporate Income Tax Rates and Brackets, 1909 to 2020.