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Michigan Ballot Proposal 2015-1
2015 Michigan Proposal 1, also known as the Michigan Sales Tax Increase for Transportation Amendment, was a referendum held on May 5, 2015, concerning a legislatively-referred ballot measure. The measure's approval would have caused one constitutional amendment and 10 statutes to go into effect. It is estimated that Proposal 1 would raise state revenues from sales and use taxes by $1.427 billion, fuel taxes by $463 million, truck registration fees by $50 million, and vehicle registration fees by $10.1 million in the first year. If approved, the proposal was estimated by the Associated Press to result in an average tax increase of $545 per household in 2016. The proposal was defeated in an historic landslide, receiving support from only 20% of voters. Background Proposal 1, consisting of House Joint Resolution UU of 2014 and associated bills, was passed on the last day of the 97th Legislature of Michigan, December 19, 2014. The legislation was created as a solution to a legisl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Tax
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption of certain goods or services from sales and use tax, such as food, education, and medicines. A value-added tax (VAT) collected on goods and services is related to a sales tax. See Comparison with sales tax for key differences. Types Conventional or retail sales tax is levied on the sale of a good to its final end-user and is charged every time that item is sold retail. Sales to businesses that later resell the goods are not charged the tax. A purchaser who is not an end-user is usually issued a "resale certificate" by the taxing authority and required to provide the certificate (or its ID number) to a seller at the point of purchase, al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MLive Media Group
MLive Media Group, originally known as Booth Newspapers, or Booth Michigan, is a media group that produces newspapers in the state of Michigan. Founded by George Gough Booth with his two brothers, Booth Newspapers was sold to Advance Publications, a Samuel I. Newhouse property, in 1976. MLive Media Group newspaper publications include ''The Ann Arbor News'',''The Bay City Times'', ''The Flint Journal'', ''The Grand Rapids Press'', ''Jackson Citizen Patriot'', ''Kalamazoo Gazette'', ''Muskegon Chronicle'', ''The Saginaw News'', and ''Advance Newspapers''. The company also maintains newsrooms in Lansing and Detroit. All of Advance Publications' Michigan content is published on Mlive.com. History Early history Booth Newspapers was founded by George Gough Booth and his brothers in 1893 and was a media company based in Grand Rapids, Michigan. In 1976, Samuel Irving Newhouse Sr. of Advance Publications acquired Booth Newspapers for $305 million, the . The Herald Company, Inc. me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Earned Income Tax Credit
The United States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low- to moderate-income working individuals and couples, particularly those with children. The amount of EITC benefit depends on a recipient's income and number of children. Low income adults with no children are eligible. For a person or couple to claim one or more persons as their qualifying child, requirements such as relationship, age, and shared residency must be met.Tax Year 2020 1040 and 1040-SR Instructions, including the instructions for Schedules 1 through 3 Rules for EIC begin on page 40 for 2020 Tax Year. EITC phases in slowly, has a medium-length plateau, and phases out more slowly than it was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Taxes
A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit. The list focuses on the main types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance tax. Some other taxes (for instance property tax, substantial in many countries, such as the United States) and payroll tax are not shown here. The table is not exhaustive in representing the true tax burden to either the corporation or the individual in the listed country. The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate is usually lower than the marginal rate. The tax rates given for federations (such as the United States and Canada) are averages and vary depending on the state or province. Territories that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Deduction
Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable income, while credits reduce tax. Above and below the line Above and below the line refers to items above or below adjusted gross income, which is item 37 on the tax year 2017 1040 tax form. Tax deductions above the line lessen adjusted gross income, while deductions below the line can only lessen taxable income if the aggregate of those deductions exceeds the standard deduction, which in tax year 2018 in the U.S., for example, was $12,000 for a single taxpayer and $24,000 for married couple. Limitations Often, deductions are subject to conditions, such as being allowed only for expenses incurred that produce current benefits. C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Depreciate
In accountancy, depreciation is a term that refers to two aspects of the same concept: first, the actual decrease of fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wear, and second, the allocation in accounting statements of the original cost of the assets to periods in which the assets are used (depreciation with the matching principle). Depreciation is thus the decrease in the value of assets and the method used to reallocate, or "write down" the cost of a tangible asset (such as equipment) over its useful life span. Businesses depreciate long-term assets for both accounting and tax purposes. The decrease in value of the asset affects the balance sheet of a business or entity, and the method of depreciating the asset, accounting-wise, affects the net income, and thus the income statement that they report. Generally, the cost is allocated as depreciation expense among the periods in which the asset is expected to be used ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Snowmobile
A snowmobile, also known as a Ski-Doo, snowmachine, sled, motor sled, motor sledge, skimobile, or snow scooter, is a motorized vehicle designed for winter travel and recreation on snow. It is designed to be operated on snow and ice and does not require a road or trail, but most are driven on open terrain or trails. Snowmobiling is a sport that many people have taken on as a serious hobby. Older snowmobiles could generally accommodate two people; however, most snowmobiles manufactured since the 1990s have been designed to only accommodate one person. Snowmobiles built with the ability to accommodate two people are referred to as "2-up" snowmobiles or "touring" models and make up an extremely small share of the market. Most snowmobiles do not have any enclosures, except for a windshield, and their engines normally drive a continuous track at the rear. Skis at the front provide directional control. Early snowmobiles used simple rubber tracks, but modern snowmobiles' tracks are usu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
All-terrain Vehicle
An all-terrain vehicle (ATV), also known as a light utility vehicle (LUV), a quad bike, or simply a quad, as defined by the American National Standards Institute (ANSI); is a vehicle that travels on low-pressure tires, with a seat that is straddled by the operator, along with handlebars for steering control. As the name implies, it is designed to handle a wider variety of terrain than most other vehicles. Although it is a street-legal vehicle in some countries, it is not street-legal within most states, territories and provinces of Australia, the United States or Canada. By the current ANSI definition, ATVs are intended for use by a single operator, although some companies have developed ATVs intended for use by the operator and one passenger. These ATVs are referred to as tandem ATVs. The rider sits on and operates these vehicles like a motorcycle, but the extra wheels give more stability at slower speeds. Although most are equipped with three or four wheels, six-wheel mode ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agricultural Machinery
Agricultural machinery relates to the mechanical structures and devices used in farming or other agriculture. There are many types of such equipment, from hand tools and power tools to tractors and the countless kinds of farm implements that they tow or operate. Diverse arrays of equipment are used in both organic and nonorganic farming. Especially since the advent of mechanised agriculture, agricultural machinery is an indispensable part of how the world is fed. History The Industrial Revolution With the coming of the Industrial Revolution and the development of more complicated machines, farming methods took a great leap forward. Instead of harvesting grain by hand with a sharp blade, wheeled machines cut a continuous swath. Instead of threshing the grain by beating it with sticks, threshing machines separated the seeds from the heads and stalks. The first tractors appeared in the late 19th century. Steam power Power for agricultural machinery was originally supplied by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boats
A boat is a watercraft of a large range of types and sizes, but generally smaller than a ship, which is distinguished by its larger size, shape, cargo or passenger capacity, or its ability to carry boats. Small boats are typically found on inland waterways such as rivers and lakes, or in protected coastal areas. However, some boats, such as the whaleboat, were intended for use in an offshore environment. In modern naval terms, a boat is a vessel small enough to be carried aboard a ship. Boats vary in proportion and construction methods with their intended purpose, available materials, or local traditions. Canoes have been used since prehistoric times and remain in use throughout the world for transportation, fishing, and sport. Fishing boats vary widely in style partly to match local conditions. Pleasure craft used in recreational boating include ski boats, pontoon boats, and sailboats. House boats may be used for vacationing or long-term residence. Lighters are used to convey ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Off-road Vehicles
An off-road vehicle, sometimes referred to as an overland or adventure vehicle, is considered to be any type of vehicle which is capable of off-roading, driving on and off Pavement (material), paved or gravel surface. It is generally characterized by having large tires with deep, open treads, a flexible suspension (vehicle), suspension, or even caterpillar tracks. Other vehicles that do not travel on public streets or highways are generally termed off-highway vehicles, including tractors, forklifts, Crane (machine), cranes, backhoes, bulldozers, and golf carts. Off-road vehicles have an enthusiastic following because of their versatility. Several types of motorsports involve racing off-road vehicles. The most common use of these vehicles is for tourism, sightseeing in areas distant from the Pavement (material), pavement. The use of higher clearance and higher traction vehicles enables access on trails and forest roads that have rough and low traction surfaces. Off-road vehicles ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
