0
Income tax is used to pay for services provided by the state - such as education and healthcare.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
The federal income tax uses which form of taxation?
The federal tax is considered a voluntary tax.
What is the income tax rate in Florida?
Florida does not have a broad based individual income tax. It uses other taxes to generate the funds for government.
What is mean by income tax?
It is what the federal or state government charges you on your income. (the money you earn) It is a percentage of your income. It mean the tax youse has to pay on youse income.
If your spouse files ahead of you and uses money that are supposed to be split?
You would file your income tax return correctly and send it in. It is possible that you may have to file your correct income tax return in the mail as a paper income tax return.
What is Before tax income after tax income?
Before tax income is gross income less allowable deductions and rebates = assessable income. After tax income is assessable income less the applicable income tax
What kind of income tax is based on your taxable income?
Income tax IS based on your income that is why it is called INCOME tax.
Is Payroll Tax considered Income Tax?
Yes. Any tax on income is income tax. Taxes imposed after income, such as sales tax, aren't.
What is a Fedeal income tax?
A income tax is a tax levied on the income of individuals or business.
What does the government use income taxes for?
Since most government spending is funded by income tax (or by loans which are expected to be repaid eventually through income tax) the government uses income tax for pretty much everything the government does; in addition, we could observe that since this is a progressive tax (people with more income pay more tax) this is a form of redistribution of wealth (although of course, there are many tax loopholes so the scheme usually does not work exactly as advertised).
Marginal Tax Rate Calculator?
Marginal Tax Rate Calculator Knowing your income tax rate can help you calculate your tax liability for unexpected income, retirement planning or investment income. This calculator helps you estimate your average tax rate, your current tax bracket, and your marginal tax rate for the 2010 tax year. Please note that this calculator uses the 2010 preliminary tax tables subject to change by the IRS.
Is Net income before or after tax?
Net income is what you get after tax, gross income is before tax.
What is an income tax?
Income tax an amount of tax that is due on your TAXABLE INCOME amount for the tax year.
