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Can Taxes imposed by the Congress can be set at different rates from state to state?
There are different types of taxes. They are local, state, and federal. The federal taxes are income tax that is taken monthly from pay checks and in the form of social security. On top of federal is state taxes. Some states don't have a state tax while others to. States also collect taxes on sales and winning things like lotteries. State taxes are also collected at the gas pump for highway funds. Local taxes can vary between cities and regions and usually come in the form of sales taxes. Property tax is also collected by cities. These too can vary depending on the value of the property.
What else can I help you with?
Can the congress use the elastic clause to increase tax rates?
The Elastic Clause does not give Congress the right to increase tax rates. However, it did allow them to print coin and paper money.
When does the government maintain spending and taxes at their current rates?
when economy is stable
What are examples where congress has power over the president?
Power of the purse: congress can limit funding on things like war the president supportsAppointment confirmation: congress has to agree on the appointment of officials by the president.Congress can remove a president that is not doing his/her job.
Which argument was used by progressive era reformers to support the use of a graduated income tax?
people who earn more money should pay taxes at higher rates
Why did Andrew Mellon work to reduce federal tax rates?
Andrew Mellon wanted to have tax rates reduced because lower taxes mean more money is available to expand businesses and add to employment. This was true in Mellon's time and is true today. The Government is an extremely inefficient spender of money. Compared to the private sector, government is less efficient because it does not need to worry about gains or losses.
In what ways are progressive taxes and regressive taxes similar in terms of their impact on different income levels?
Progressive taxes and regressive taxes both impact different income levels by taxing individuals based on their income. However, progressive taxes impose higher tax rates on higher income levels, while regressive taxes impose higher tax rates on lower income levels.
Where could we find out about estate tax rates?
Estate or death taxes vary from state to state and country to country. In the US there is a tax imposed on the transfer of the taxable estate of a deceased person.
How do commercial mortgage interest rates compare to those for residential mortgages?
Commercial mortgages interest rates are different from residential mortgages, commercial mortgages are taxed a little different and these taxes affect the interest rates to increase.
Why does Walmart charge two taxes?
I asked Walmart and they said some states have two different taxes - one for general merchandise and a separate tax for groceries. You're not getting double taxed, youre getting charged different taxes for different items on your reciept
How much is 280.00 plus taxes?
That depends on the rate of tax, and that can be different in different places. There can even be different tax rates on different items that you buy in the same store.
What are the key differences between business taxes and personal taxes?
The key differences between business taxes and personal taxes are the types of income taxed, deductions available, and tax rates applied. Business taxes are based on profits earned by a business, while personal taxes are based on an individual's income. Businesses can deduct expenses related to running the business, while individuals have deductions for things like mortgage interest and charitable contributions. Additionally, business tax rates are typically different from personal tax rates.
Schedular system of taxation in the Philippines?
A schedular tax system disaggregates income into components such as labor income, dividends and royalties and then separately applies tax rates and exemptions. separate graduated rates are imposed on different types of income
What is the best rate that American Express offers?
Rates vary based on credit score and type of loan (credit card, line of credit, etc.) Introductory rates may be different than later rates imposed. An average rate may be around 13 percent.
Can I file my taxes with 2 W2s from the same employer?
Yes, you can file your taxes with 2 W-2s from the same employer if you had multiple jobs or positions with different pay rates or tax withholdings.
How much taxes does a farmer pay?
There is no simple answer to that. Every farmer would be different as their income would be different. It will also depend on the local rates of taxation and other regulations where they live.
Is rates and taxes debit or credit?
It is debit on your accounts
Do estimated taxes have to be equal for all income sources?
No, estimated taxes do not have to be equal for all income sources. Taxes can be calculated separately for different types of income, such as wages, self-employment income, and investment income. Each source of income may have different tax rates and requirements for estimated tax payments.
