Social Security taxes provide benefits for retirees and disabled workers. As of 2012, the tax rate for Social Security is 4.2%. There is a limit on the amount of income subject to Social Security tax each year.The limit was $110,100 in 2012, according to the U.S. Internal Revenue Service.our gross pay is the amount you actually earn. Your take-home pay is your gross pay minus various deductions including taxes such as Social Security, Medicare and your federal and state income tax withholding.
A resale certificate can not be used to purchase other types of items exempt from sales tax that don't qualify for this purpose. An exemption certificate is issued either because the entity qualifies for an exemption or the use of the item qualifies for an exemption.
Tax Resale Certificate â Purpose. Each state makes its own decisions regarding sales tax, including the percentage charged and the types of items subject to the tax. Typically, sellers must register for a state-issued permit to collect sales tax and are required to submit any taxes collected to the state. However, items purchased for resale can be exempted from sales tax if the purchaser provides a resale certificate.