Education Initiative

This tax form is something you can pull up and plug in your numbers to see what your likely tax will be under the Education Initiative file by NSEA and others.  This works well for C Corps, but not for applications for S Corps and Sole Proprietorship’s which are more complex.   If passed by the voters in 2014, the NSEA wants the money long before the IRS filing would be due, so the first filing would be a guess and no provisions are even suggested for amended returns.  There is the possibility of the legislative branch could tell the Tax Commission they must write regulations to fill in the blanks since the legislature cannot change the petition content for a few years.  This is a simplistic view and we know it, but it provides a starting point to guess the impact.

Tax Initiative Computation

 

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