Do Minors Get Taxes Taken Out Of Their Paycheck?
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Who Is A Minor?
A minor is a person who has not yet reached the age of majority. In most states, that age is 18. A minor does not have the legal capacity to enter into contracts and other
legally binding agreements
. This means that minors cannot buy property, sign leases, or make medical decisions without parental consent. Minors also do not possess the same rights as adults when it comes to privacy and criminal actions.
Do Minors Get Taxes Taken Out Of Their Paycheck?
Yes, taxes are deducted from minorsβ paychecks. Generally, any individual who earns money must
pay taxes
on that income, regardless of age. This applies to both traditional employment and self-employment.
State Tax Law For Minor
State tax law for minors states that minors are not required to pay taxes, but any income that they earn is still subject to taxation. This means that minors must include their earnings on their parentβs
tax returns
, and any refunds or credits will be sent directly to the parent or legal guardian.
Exemptions & Credits Available
Providing financial support for your minor children can be a difficult task. The good news is that there are numerous exemptions and credits that can lessen the burden of paying taxes. Understanding the different types of
tax exemptions
and credits that are available to minors can help you make the most of your tax filing process.
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