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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.


What are the similarties between the state income tax and the federal income tax?

The amount of your tax liability is based on your TAXABLE INCOME after your income tax return is completed completely and correctly down to the TAXABLE income line of each income tax return.


What is the tax based on the amount of money earned?

Income Tax is a tax based on the amount of money earned.


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.


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.


How to Calculate income tax on the income statement?

You can't income tax is based on TAXABLE income, not financial statement income.


What created the income on tax?

Your question is backwards. There is no income on tax. However, there is a tax on income. This is known as income tax. Income tax is a system created by the government that takes a percentage of your income out of your check based on how much money you earn. Generally speaking, the higher your income, the higher the percentage of it the government takes.


What are Alberta's main sources of income?

One of the biggest sources of revenue for the Canadian government is income taxes. Another big source of revenue for Canada is consumption taxes.


Are state income tax payments deductible on a corporate tax return?

Yes. State income (and net worth based) taxes are deductible from taxable income for Federal income tax purposes.


How do I find out what my income tax percentage is?

There are many websites available online that can help you calculate your income tax percentage. It is usually based on your income and the type of income that you have.


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.


What does annual income rates mean?

Tax rates by IRS based on annual income. They are on the web site. Income determines tax bracket.