A taxpayer is an individual or entity that is required to pay taxes to a governmental authority. This term encompasses a wide range of people, including individuals, businesses, and organizations that generate income or own property subject to taxation. Taxpayers are often involved in various financial transactions, including property exchanges, where they may be referred to as exchangers.
The term "taxpayer" is commonly used in the context of tax law and revenue regulations. It applies to various legal areas, including:
Taxpayers may need to complete forms and follow procedures to comply with tax laws, many of which can be managed using resources like US Legal Forms, which provides templates drafted by qualified attorneys.
Here are a couple of examples of abatement:
Here are a couple of examples of taxpayers:
One significant statute that defines the term taxpayer is:
Examples of state differences (not exhaustive):
| State | Taxpayer Definition Variations |
|---|---|
| California | Taxpayers may be subject to additional state income taxes and specific local taxes. |
| Texas | No state income tax; taxpayers primarily pay property and sales taxes. |
| New York | Taxpayers face both state and city income taxes, with varying rates. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
If you are identified as a taxpayer, consider the following steps:
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Any individual or entity that earns income or holds property subject to taxation qualifies as a taxpayer.