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Is withholding tax a direct tax?

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Is corporate tax direct tax?

Corporate tax is a tax on the profits of corporations ( joint stock  companies) . This tax can be collected according to a progressive  scale of taxation ( for example, in t

What is direct tax?

  A tax, such as an income or property tax, levied directly on the taxpayer. Income tax is a direct tax. Individuals and businesses pay direct taxes to the government on a

Is TDS a Direct Tax or Indirect Tax?

According to me tds is indirect tax because the concept of indirect tax is the tax is implement on that person is not liable to pay tax its burden is transfer to another perso

Is dividend tax a direct tax in India?

It is difficult to classify it because some times it is direct tax while on other times it becomes indirect tax. If dividend tax is imposed on company itself then it is an e

What is the difference between withholding taxes and not withholding taxes?

Withholding taxes are taxes that are subtracted from a payment by a third party before you receive the payment. Examples of this are: your employer takes taxes out of your pay

Why does the Federal Government use tax withholding?

It uses withholding because it needs a steady stream of income to pay for its expenditures and also because most people would not save enough money to be able to pay their tax

What is backup withholding tax?

When a person, such as an employer, makes payments to another person, they must withhold and then pay a specified percentage of this payment to the Internal Revenue Service (I

What is the Social Security withholding tax rate?

The withholding amount by the employer from your earnings that are  subject to the old age survivors disability insurance is 7.65% for  the social security and medicare tax

Is gasoline tax a direct tax?

No, any tax paid to a retail store or gas station is called an  indirect tax. It is an indirect tax because you pay the tax to the  store and they have to pay the tax to the

Is sales tax a direct tax or indirect tax?

Sales tax is an Indirect, specifically, Excise tax. The tax is NOT  imposed on the buyer of goods, but is actually imposed on the  "Privilege" of the "retailer" selling good
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What is a withholding tax used for?

Withheld taxes are used for several things. City taxes and state taxes are withheld from one's paycheck. Federal taxes are also withheld from your check. That amount depends o