Going bankrupt is a nightmare that not all people might experience. While the bankruptcy code can’t be altered by any state there are different procedures for each state. For anyone who is living in Illinois, the matter of bankruptcy Illinois courts system will decide on.
You should however prepare for the court proceedings when you first start thinking about claiming bankruptcy. As bankruptcy is very complicated you might want to ask a bankruptcy lawyer to explain the bankruptcy Illinois act.
This way you will understand what the Illinois courts require from you before they can state that you are bankrupt. As the bankruptcy code has changed in 2005 you will need to go through credit counseling at an approved counseling agency at least 6 months before you file for bankruptcy.
You will also need to go through with a financial management instructional course after you have filed for bankruptcy. Before you start the process of bankruptcy filing you will need to gather all of the documents that bankruptcy Illinois courts require.
These documents will include any deeds and titles to land and vehicles that you own, loan documents, your tax returns for the last 2 years, property and assets, all debts – both secured and unsecured – with the names of the creditors listed, monthly living expenses, major financial transactions for the last 2 years. You will also need to itemize your current income sources.
Once these have been readied and you have talked with a reputed bankruptcy lawyer you can take the means test, to see if you qualify for a chapter 7 or chapter 13 bankruptcy filing.
The means test will be administered by your lawyer and you will have the right to a chapter 7 bankruptcy filing. The means test will be based on your monthly income and expenses. If your monthly income and expenses are more than the average for Illinois wage earners you can’t file for chapter 7 bankruptcy.
Instead you will be able to apply for chapter 13. In this chapter you can keep all of your assets and property and pay off your creditors. You will be using the wages that you have left from your monthly expenses.
The bankruptcy Illinois act allows the debtor to file for chapter 13 even if they qualify for chapter 7. Once you are ready for either a chapter 7 or a chapter 13 bankruptcy Illinois hearing then you have to answer all of the questions that the bankruptcy trustee and your creditors will ask from you.
While the bankruptcy Illinois act is not that hard to prepare for you should make sure that you have everything readied before you start applying for bankruptcy. Having all of the items that you need for your bankruptcy hearing ready, will help you to choose if you want a chapter 7 or 13 bankruptcy filed.
Trucking and taxes go hand-in-hand. But trucking companies and owner operators in trucking who have an ICC number or who are leased to a carrier that has an ICC number can save on sales tax in some states.
Some states, like Oregon, Montana and New Hampshire, have no sales tax at all for any retail purchases.
Other states, like Ohio, Indiana, Illinois and Pennsylvania, will provide a form to fill out and sign. If a trucking owner operator or the trucking company he is leased to have an ICC number, the owner operator (or trucking company) does not have to pay sales tax in those states for the items bought for their trucks.
Good luck trying to get out of paying sales tax at Wal-Mart, but at the truck stop shop, they’ll know what you’re talking about. Consider that if you are buying a full set of drives you may be paying retail prices in the $3,000 range. At 6% sales tax, you will save $180. That is certainly worth the time to fill out a tax form.
Most retailers in the trucking industry won’t suggest to owner operators that they may be tax exempt. The owner operator will have to ask if the shop or supply store will honor that provision. Tax exemption forms create more paperwork for the retailers, so they tend to keep the uninformed truckers in the dark about it.
An owner operator who wants to save on sales tax would be wise to buy his supplies in one of these states. Whatever state you are in, if you get repairs, maintenance or supplies, always ask if they have a tax exempt form you can fill out. They may or they may not, but it is certainly worth enduring an occasional blank stare in order to double check.
States that should allow tax exempt status in addition to those already mentioned are Kansas, Missouri, and Washington.
To view a version of this article that provides links to the tax exemption forms required by the states, visit Coopsareopen.com
In the United States, there is at least one university in each state to cater to the educational requirements of many aspiring youngsters. Most public universities in the US are state universities, which are set up and managed by state government. These colleges offer courses in various streams such as Arts & Sciences, Biblical Studies, Business Administration, education and Human Services, Nursing, Information Technology and Computing and many, many more to match the latest trends and needs of the society. Students can easily browse through the US state university information to hit upon the right courses that suit their needs. The handy US state university information available offline and online acts as a direction line for the students.
The oldest State University in the US is The College of William & Mary, which traces its origin to 1693. Every state has at least one university and there are large states with more than thirty universities. Some of the present day universities such as Missouri State University and Texas State University were started as teacher training institutions and were later expanded into full fledged universities with an impressive line up of courses. States typically charge higher tuition for students coming from other states as they do not fall under the state taxes net and hence are not contributing in subsidizing the university.
Most of the top universities are private entities and one of the reasons attributed to the fall in the number of public universities is the lack of State support. Many public universities run graduate programs in law, medicine and other subjects exclusively on private funding. So far the only federally chartered universities in the US, such as West Point has been those that are under the patronage of the U.S. military.
It is still obscure whether the US Constitution would make any amendments to establish a federal university system. The American Public University System is only a for-profit private university and not a public university. Students choose these prestigious universities to imbibe quality education in military and civilian public service. Most of the public universities are highly selective and are known as Public Ivies. In University of Michigan and University of California – Berkeley, belonging to this genre, most of the departments are top ranked, which take them to the prestigious league of the Ivy League University.
Some of the prestigious universities that fall under the top twenty include Columbia State University in New York, Stanford in California, Cornell in New York, and University of Chicago in Illinois among others. US state university information would help the students in selecting the courses as well as the institutions that would cater to their aspirations.