Mileage Rate Effective January 1, 2009
The mileage rate effective January 1, 2009 is $.55 cents per business mile.
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The mileage rate effective January 1, 2009 is $.55 cents per business mile.
The mileage rate effective July 1, 2008 is $.585 cents per business mile.
The mileage rate effective January 1, 2008 is $.505 cents per business mile.
All required federal and state posters, including the new minimum wage poster, are available free from the Tennessee Department of Labor & Workforce Development and can be downloaded from the department's Web site at www.tn.gov/labor-wfd. If you do not have Internet access, you may request a set of posters from the TDLWD Communications Office at 615-741-2257.
The Tennessee Department of Labor and Workforce Development will begin enforcement of the Illegal Alien Employment Act in January of 2008. Under the law, an employer who knowingly hires an illegal immigrant could lose any local or state issued license related to his business for up to one year. "Those who knowingly violate the law do face penalties," said Labor and Workforce Development Commissioner James Neeley. "The first violation resulting in a suspension of a business license until the person shows there are no longer any violations; a second or subsequent violation occurring within three year from the first offense results in a one-year license suspension."
The sales tax deduction was extended through the tax year ended 12/31/07. If you itemize - don't forget this deduction.
The mileage rate for 2007 is $0.485 cents per business mile.
Taxpayers will be able to apply for refunds on their 2006 tax forms, to be filed in 2007.
Key Facts Regarding Tax Refunds:
The standard mileage rate as of January 1, 2006 is 44.5 cents per mile. Remember, the IRS requires substantiation of mileage, so pick up a mileage log at an office supply store and keep it in your car so it is convenient to use daily.
Knox County and Knoxville City taxes for your personal residence are not delinquent until March 1, 2006; however, to get the deduction on your 2005 tax return, you must pay them by December 31, 2005.
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