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cheques play
cheques play asked in Business & FinanceTaxesUnited States · 1 decade ago

Would you be taxed on a commercial savings account with an annual yield of 3%?

4 Answers

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  • H_A_V_0_C
    Lv 5
    1 decade ago
    Favorite Answer

    Absolutely. You'd be sent a tax statement by the bank at the end of the year.

  • Judy
    Lv 7
    1 decade ago

    You will be taxed on the interest you earn from the account.

  • Mark S
    1 decade ago

    Yes, you are taxed on all income unless it is tax exempt, for example, government bonds.

  • Anonymous
    1 decade ago

    Yes, but not much

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