A real estate purchase contract is required by a law in every state called the statute of frauds. Real estate purchase contracts must be in writing according to the statute of frauds. This rule also applies to a lease purchase agreement contract. By putting a land purchase contract or lease purchase contract in writing, there are less chances of fraud, mistake, and other problems in the chain of title.
Roberton Williams , Contributor. The percentage of Americans who pay no federal income tax is falling, thanks to an improving economy and the expiration of temporary Great Recession-era tax cuts. In 2009, the Tax Policy Center estimated that 47 percent of households paid no federal income tax. This year, just 43 percent will avoid the tax.
In 2010, 20 percent of total U.S. state and local tax revenues were collected from personal income taxes. The top five states with the largest share of tax revenues from this source were Oregon (37.7 percent), Maryland (35.6 percent), New York (31.2 percent), Kentucky (30.4 percent), and Massachusetts (30.3 percent).orporate income taxes make up a very small portion of state and local tax revenues across the U.S. (only 3 percent of total in 2010). The state that depends most heavily on corporate income taxes is Alaska, and only 10.4 percent of Alaskan state and local tax revenues are derived from this source.