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All people that own something like a house or car has income tax.
Income tax is a tax on income (money earned), not a tax on property. Income can be in many forms, the most common being wages for work and interest earned on savings and investments. Any on earning money, must file an income tax return.
Property tax, sales tax, and excise tax are other types of taxes that we pay. It sure adds up.
What else can I help you with?
What kind of tax is paid on a persons salary?
That would be income tax
Can you get an income tax refund if you do not work?
Not if you did not have some income tax withheld from some type of income or if you are qualified for some type of refundable tax credit.
Who are the taxable persons?
In the Internal Revenue Code there is a tax imposed upon taxable income and that is defined as gross income or adjusted gross income which amounts to income earned in a taxable year by a taxpayer. A taxpayer is any person subject to any revenue laws. Is that clear? It isn't to me, and I remain astounded that so many people will claim that such circumlocution is clear to them. A tax imposed upon taxable income does not answer what the subject of the tax is. Is taxable income the same as income? If it is then why is taxable income defined as gross income or adjusted gross income but income itself never defined? Is income the subject of the Personal Income Tax Law? Who are the taxable persons? Those persons made liable for a tax are. How do we know who has been made liable to a tax by understanding that a tax was imposed upon taxable income?
What is an individual income tax?
Individual income tax law is based on an individual persons income. The tax is also based on family size.and certain expenses that might have happened over the last year.
Who pays the most income tax in the United States?
Persons earning $389 thousand and over pay 39.89 % of income tax. Top 1%. Persons earning $154 thousand and over pay 60.14 % of income tax. Top 5%. Persons earning $109 thousand and over pay 70.79 % of income tax. Top 10%. Persons earning $ 65 thousand and over pay 86.27 % of income tax. Top 25%. Persons earning $ 32 thousand and over pay 97.01 % of income tax. Top 50%. Persons earning less than $ 32 thousand pay 2.99 % of income tax. Bottom 50%. These figures are for federal income taxes only. They do not include payroll taxes which account for ~40% of federal revenue. (pre the Heritage Foundation) - "Workers with pre-OASDI incomes from $17,813 to $27,732 have the highest average effective Social Security tax rate (10.3 percent). 11 Workers in the highest income group have the lowest tax rate (6.7 percent)."
What type of tax is this the property tax on a persons house?
direct
What type of tax is the federal income tax?
progressive tax
What is an individual income tax law?
Individual income tax law is based on an individual persons income. The tax is also based on family size.and certain expenses that might have happened over the last year.
Does enumeration affect the income tax levied on persons in the various states?
Yes
What are the three different tax structures Which type of tax is income tax Which type is sales tax?
The three different tax structures are progressive, regressive, and proportional (or flat) taxes. Income tax is typically a progressive tax, where the tax rate increases as income rises. Sales tax, on the other hand, is generally considered a regressive tax, as it takes a larger percentage of income from lower-income individuals compared to higher-income individuals.
Who is responsible for Income tax in India?
All persons residing in India are responsible for paying Income tax on monies earned. Dollars earned from agriculture are tax exempt. This is imposed by the Government of India.
Is a progressive tax a type of income tax?
It's a method of determining the taxable rate on income.
