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Income tax is a type of tax and refers to what the basis or subject of the tax is - in this case income (both individual or corporate/business). There are many types of taxes paid to many different governments, based on many different things. The most common are sales tax, use tax and property tax.
What else can I help you with?
Are income tax and taxable income the same thing?
No, income tax and taxable income are not the same thing. Taxable income is the amount of income that is subject to taxation, while income tax is the actual tax that is calculated and paid on that taxable income.
How does the Rate of tax on vacation compare to the rate paid on income?
Your vacation pay income tax rate will be the same as the income tax rate on all of your other gross wages income from the same employer.
Can you received 2 checks from the IRS for income tax?
No not in and for the same years income tax return.
What does income tax withheld mean?
Same thing as paying estimated taxes. Paying your income tax as you earn the income.
What are tax rates in which the percentage of tax is the same regardless of the level of income?
Tax rates in which the percentage of tax is the same regardless of the level of income is most likely a proportional tax. This is sometimes also referred to as a flat tax.
What is Pre tax Income?
Pre-tax income is the same as gross income OR the money you make before taxes are deducted/withheld.
What is the tax rate for vacation pay?
The tax rate for vacation pay is the same as the tax rate for regular income, which is based on your total income and tax bracket.
A taxation strategy where everyone pays the same amount regardless of income?
Flat tax has no regard to income. Graduated tax is related to income.
Do you pay income tax in Texas?
Every1 in the world pays income tax Texas does not have a State income tax, collecting that same revenue using other tax means. You of course pay Federal income taxes.
Do you pay tax on your gross income or net income?
You pay tax on your adjusted gross income. This is not quite the same thing as gross income, but it's definitely not net either.
Do all Americans pay the same income tax?
No.
What happens to the percentage of tax as the income that is taxed rises and the tax is proportional to one?
The tax states the same
