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What (who) is tax deferral - definition
Tax deferral
Tax deferral refers to instances where a taxpayer can delay paying taxes to some future period. In theory, the net taxes paid should be the same.
Deferred tax
Deferred tax is a notional asset or liability to reflect corporate income taxation on a basis that is the same or more similar to recognition of profits than the taxation treatment. Deferred tax liabilities can arise as a result of corporate taxation treatment of capital expenditure being more rapid than the accounting depreciation treatment.
Hotel tax
TYPE OF TAX
Bed tax; Transient occupancy tax; Lodging tax; Visitors' tax
A hotel tax or lodging tax is charged in most of the United States, to travelers when they rent accommodations (a room, rooms, entire home, or other living space) in a hotel, inn, tourist home or house, motel, or other lodging, generally unless the stay is for a period of 30 days or more. In addition to sales tax, it is collected when payment is made for the accommodation, and it is then remitted by the lodging operator to the city or county.
Examples of use of tax deferral
1. Within the annuity you‘re paying higher fees for tax deferral, which you don‘t need in this instance.
2. Michigan, for example, this year increased the eligibility for a tax–deferral program on the basis of income.
3. The premise here is that investors should take advantage of the tax–deferral offered for as long as possible before taking distributions.
4. Over 30 years, the tax–deferral feature can add the equivalent of 0.5 to 2 percent to your annual yield, depending on your tax rate and how high inflation goes.