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Schedule O Incentives Rev. 05.03 OPTIONAL INCOME TAX FOR EXEMPT BUSINESSES PURSUANT TO SECTION 3A OF ACT 8 OF 1987 200 To be filed with Form 480.30(II) Taxable year beginning on, and ending on, Employer's
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What is optional income tax for?
Optional income tax is for individuals who choose to pay additional taxes on their income above and beyond what is required.
Who is required to file optional income tax for?
Individuals who want to contribute more to the government and have higher income levels may choose to file optional income tax.
How to fill out optional income tax for?
Optional income tax can be filled out using the same forms and process as regular income tax, but individuals will need to indicate that it is optional.
What is the purpose of optional income tax for?
The purpose of optional income tax is to allow individuals to contribute more to government funding if they choose to do so.
What information must be reported on optional income tax for?
Individuals will need to report their additional income amounts and any deductions or credits they want to apply to the optional income tax.
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