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What is it when a portion of a person's personal income is paid to the government?
Wiki User
∙ 11y ago
If your employer pays part of your personal income directly to the government, that is called withholding taxes.
Wiki User
∙ 11y ago
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Best definition of taxable income?
The portion of a persons income that is eligible for taxation
What happens to a net personal income with the government lowers taxes?
If the government lowers your taxes your NET income increases.
What is the personal allowance on Federal Income tax?
may be claimed to exempt a portion of their earnings from withholding
What happens to net personal income when the government lowers taxes?
your net income increases, but your income tax decreases
What happens to net personal income when government lowers taxes?
your net income increases, but your income tax decreases
What is the local percentage rate for deductions from personal income tax in The Borough of Northampton?
Personal Income Tax is collected centrally by the government. There is no local percentage rate.
Which tax raises the most revenue for the federal government?
personal income tax
Does the government pay for certain apartments based on one's income?
There is a program called Section 8. If you are on the program you only have to pay a small portion of your income towards rent, and the government pays the rest.
What does federal withholding mean?
When you earn income from an employer, the employer automatically withholds a portion of your salary for federal income taxes, which they remit to the government on your behalf.
A sum of money placed on a person property or income of an individual by government?
The sum of money placed on a persons property or income by the government is referred to as taxes. In the United States, these taxes are federal and state taxes.
How to culculate personal income to disposable income?
Personal Income = Disposable Income + Personal Savings
What the government should do when they want to make up the budget of deficit?
the government should increase personal income tax and publish government bond^^
