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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 is income that is not subject to taxes also called tax exempt income?
what is income that is not subject to taxes, also called "tax exempt income?"
What is a direct tax on personal income called?
A direct tax on personal income is called an income tax. This tax is levied directly on an individual's earnings, which can include wages, salaries, and other forms of income. The amount of income tax owed typically depends on the taxpayer's income level and applicable tax rates. Income tax can be progressive, meaning higher earners pay a higher percentage compared to lower earners.
Is profits income before taxes?
the operating income represents the income before income tax , it is not called profits
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.
What is income that is not subject to taxes also called tax exempt income?
what is income that is not subject to taxes, also called "tax exempt income?"
Are refinancing proceeds in excess of costs taxable?
Never subject to income tax
Are earnings in excess of the social security base amount are not taxed?
They are not subject to the Social Security tax. But they are subject to all other taxes including Medicare tax, federal income tax, and state income tax.
Do US citizens have to pay tax on employment income?
Yes. It's called Income Tax. States can require an income tax, and there is tax payable to the Federal Government.
What was the annual tax called to derive income from the colonies?
it was called deferential tax.
What is a direct tax on personal income called?
A direct tax on personal income is called an income tax. This tax is levied directly on an individual's earnings, which can include wages, salaries, and other forms of income. The amount of income tax owed typically depends on the taxpayer's income level and applicable tax rates. Income tax can be progressive, meaning higher earners pay a higher percentage compared to lower earners.
What tax strategy makes you pay a higher tax rate as income increases?
This is called a graduated or progressive income tax.
What income tax reforms were made in 1921?
the excess profits tax was repealed, and the tax rate structure was adjusted to be less progressive. Many preferences were incorporated into tax law in the form of deductions,
Grants or special tax exemptions provided to businesses are called?
Income tax
What is a tax that you pay on the money you earn?
To answer your question, the taxes you pay on the money you earn (salary, income) is called income tax.
Is profits income before taxes?
the operating income represents the income before income tax , it is not called profits
