3 ms·
Yes, you have to spend the money though so youll still be down 55K, it doesnt count to things like capital purchases.
by ps4fanboy 11y ago
Yes, you have to spend the money though so youll still be down 55K, it doesnt count to things like capital purchases.
- gordjw 11y agoDepends who owns the company you spend the $100k with. They'd need to pay 30% tax on their income, leaving a net outlay by the government of $15k (15%) overall.
- robzyb 11y agoTheir income would be less than the $100k. They would have incurred expenses when they provided the services. I paid $100k, the provider took the $100k and spent $60k. This means they declare $40k income. The company pays $12k tax. The Goverment gives $55k to my hypothetical company.