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What is the largest single source of the federal government revenue?
In the United States, it's Personal Income Tax.
Largest porportion of federal revenues comes from?
45% of the federal revenue comes from Income tax36% comes from Payroll taxes12% comes from Corporate tax7% comes from Excise Tax4% is other sourcesNotes:In 2008 the federal government collected $2.5 trillion, an amount equal to 17.7 percent of GDP. Federal revenue has ranged from 14.4 to 20.9 percent of GDP over the past five decades, averaging 18.2 percent.Payroll taxes swelled following the creation of Medicare in 1965. Taxes for Medicare, combined with periodic increases in Social Security taxes, caused payroll tax revenue to grow from 1.6 percent of GDP in 1950 to more than 6 percent since 1990. Payroll taxes also include railroad retirement, unemployment insurance, and federal workers' pension contributions.Revenue from the corporate income tax fell from between 5 and 6 percent of GDP in the early 1950s to 2.1 percent of GDP in 2008.Excise taxes fell steadily throughout the same period, from nearly 3 percent of GDP in 1950 to 0.5 percent in recent years.The remaining sources of revenue have fluctuated less, together claiming between 0.5 and 1.0 percent of GDP since 1950 and standing near the bottom of that range in 2008.
The federal government must keep its spending within this?
Currently, there is no limit on what the federal government chooses to spend, period.
What were laws that the federal government passed during the Federalist period that affected slavery?
the federal government banned the importion of slaves to the US
Social position and power during the federal period was based on?
amount of land possessed
What is the largest single source of the federal government revenue?
In the United States, it's Personal Income Tax.
Does georgia have a state tax limitation?
For Federal income tax purposes, the IRS does not charge a late payment penalty, for the period.
How long does an unpaid tax lien expire?
It depends on the type of lien. A lien for unpaid property taxes does not expire. A lien for federal income taxes lasts ten years plus a grace period for rerecording. State income tax liens vary in their statutes of limitations.It depends on the type of lien. A lien for unpaid property taxes does not expire. A lien for federal income taxes lasts ten years plus a grace period for rerecording. State income tax liens vary in their statutes of limitations.It depends on the type of lien. A lien for unpaid property taxes does not expire. A lien for federal income taxes lasts ten years plus a grace period for rerecording. State income tax liens vary in their statutes of limitations.It depends on the type of lien. A lien for unpaid property taxes does not expire. A lien for federal income taxes lasts ten years plus a grace period for rerecording. State income tax liens vary in their statutes of limitations.
If your income is 245600 per month how much would your income be per weekly pay period?
You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc they will have to withhold from your hourly pay or gross pay for the pay period.
What is your gross income if your net income is 1000 per week?
You should get this information from your employer payroll department as they will be the one that would know how much FICA, federal income tax, state income, local taxes, etc they will have to withhold from your hourly pay or gross pay for the pay period.
What percent of your paycheck is held out for federal taxes?
The percentage that is taken out of your paycheck depends on your exemptions and the amount of money you make. Generally, around 15% is taken out of each paycheck and held for taxes, social security and other fees.
What Period came after the Colonial period?
The Federal period
What provided sources of revenue for the federal government in the period from 1800 to 1860?
The main sources of revenue in the 1800s-1860s were: Revenue Tariff, Land Sales, and Income Tax.
Income tax withheld from each paycheckand sent to the state or federal government?
You do NOT have any amount that is withheld from your net take home paycheck after it is issued to you. The amount that is withheld is calculated on your gross earnings for the pay period and is a advance payment of your possible future income tax liability. After your income tax return is completed correctly and IF the amount that is withheld is more than your federal or state income liability then you will receive a refund of the over withheld amount.
Largest porportion of federal revenues comes from?
45% of the federal revenue comes from Income tax36% comes from Payroll taxes12% comes from Corporate tax7% comes from Excise Tax4% is other sourcesNotes:In 2008 the federal government collected $2.5 trillion, an amount equal to 17.7 percent of GDP. Federal revenue has ranged from 14.4 to 20.9 percent of GDP over the past five decades, averaging 18.2 percent.Payroll taxes swelled following the creation of Medicare in 1965. Taxes for Medicare, combined with periodic increases in Social Security taxes, caused payroll tax revenue to grow from 1.6 percent of GDP in 1950 to more than 6 percent since 1990. Payroll taxes also include railroad retirement, unemployment insurance, and federal workers' pension contributions.Revenue from the corporate income tax fell from between 5 and 6 percent of GDP in the early 1950s to 2.1 percent of GDP in 2008.Excise taxes fell steadily throughout the same period, from nearly 3 percent of GDP in 1950 to 0.5 percent in recent years.The remaining sources of revenue have fluctuated less, together claiming between 0.5 and 1.0 percent of GDP since 1950 and standing near the bottom of that range in 2008.
Federal Student Loan Payment Based on Income?
Borrowers who enter the repayment period on their student loans, but have trouble affording their payments have an option. The federal loan service allows borrowers to make payments on their student loans based on their income. Borrowers must submit records of their income to qualify for income-contingent payments. The lender will evaluate the borrowers' income and set their payment amount accordingly. Borrowers still accrue interest during the period of time that they are making income-contingent payments. However, borrowers may still save money by making these lower payments if they do so in a timely manner, thereby avoiding earning late fees or defaulting on payments.
What is income balance?
the income balance is the amount of income earned at the end of the accounting period.
