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Define tax and explain its various types?
Tax is a compulsory payment imposed by government on every citizen of a country.Every one have to pay different taxes to government.there are two basic type of taxes.1=Direct tax.2=Indirect tax.(Direct Tax)Taxes imposed and collected by the same person,are called direct taxes e.g. Income tax,property tax,wealth tax.(Indirect Tax)Taxes imposed on one person but collected by some other person are called indirect taxes e.g. Sales tax,Central excise duty.
Name the two classifications of people who do not pay taxes?
American Indians and Amish
How are taxes classified?
Taxes are classified primarily into two categories: direct and indirect taxes. Direct taxes are levied directly on individuals or organizations, such as income tax and property tax, where the taxpayer bears the burden. Indirect taxes, such as sales tax and value-added tax (VAT), are collected by intermediaries from consumers and passed on to the government. Additionally, taxes can also be categorized as progressive, regressive, or proportional, based on how the tax rate changes with the taxpayer's income level.
How do property taxes get collected?
In the United States property taxes are typically billed and collected by the local tax collector or treasurer. Depending upon the political subdivisions of your state and how taxes are levied, the local jurisdiction that bills and collects taxes could be a borough, city, county, town, township, or the at the state level. Personal property taxes (non-real estate such as certain business equipment or industrial equipment) and real property taxes (land and improvements to land like structures and other permanent items) are identified by the taxing jurisdiction and may be billed for taxed in installments (two to four equal installments during the tax year are most common).
What are different kinds of taxes?
Taxes mostly fall into two categories....direct taxes- These are the taxes a person pays directly, i.e. no intermediary involved. They can be taxes on earnings, for example. These taxes are directly collected by Government from the person concerned. The person knows the exact tax liability in this case. eg income tax, wealth tax etc...indirect taxes- These taxes are taxes on consumption. you pay these taxes when you buy goods, sometimes unaware of the exact amount that it would contribute to your cost. The burden of these taxes are shifted from manufacturer to consumer. Its an unavoidable burden, regressive in nature i.e. bigger burden on poor. Example of this tax would be an excise duty.
What were two ways colonists protested the new taxes?
na
What are two ways to name one year?
write two ways to name one year
Name two ways the us paid for WWII?
The United States funded WWII by raising taxes, tapping into personal accounts and savings. Savings are where most of the wars funding came from.
What are two ways by which Government regulates business activities in a country?
Two ways the government of a country can regulate business is to enact new laws that influence business and raise or lower taxes.
Give two ways England politically controlled her colonies?
Taxes without representation and appointed governorships.
What are two major sources of revenue in Mississippi?
Two major sources of revenue in Mississippi are sales taxes and income taxes. Sales taxes account for a significant portion of the state's revenue, generated from retail transactions, while income taxes are collected from individuals and businesses based on their earnings. Additionally, the state also benefits from revenue generated by industries such as agriculture, manufacturing, and tourism.
The Pharaoh held the title Lord of the Two Lands what best describes the activities associated with this title?
jThe Pharaoh created laws in Egypt and collected taxes from the people.
Define tax and explain its various types?
Tax is a compulsory payment imposed by government on every citizen of a country.Every one have to pay different taxes to government.there are two basic type of taxes.1=Direct tax.2=Indirect tax.(Direct Tax)Taxes imposed and collected by the same person,are called direct taxes e.g. Income tax,property tax,wealth tax.(Indirect Tax)Taxes imposed on one person but collected by some other person are called indirect taxes e.g. Sales tax,Central excise duty.
Do Minnesota property owners pay taxes in arrears?
Yes, Minnesota property owners pay property taxes in arrears. This means that taxes collected for a given year are based on the property's value from the previous year. For example, property taxes due in 2023 are based on the assessed value from 2022, with payments typically made in two installments.
How do you name the number in two ways?
3,400
Name the two classifications of people who do not pay taxes?
American Indians and Amish
Name two levels government of government which can levy taxes?
federal and state
