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What else can I help you with?
Which statement most accurately describes a progressive tax?
The tax rate increases as income increases.
Who would pay the most as a portion of income under a regressive tax?
Under a regressive tax your tax rate goes down as you make more money. (Total Tax Paid) / (Income) = (Percent of income paid). As the tax rate goes down, the more you make the lower this number will be.
Felix has a gross income of $18,000. What is his total tax due?
2026
Marginal Tax Rate Calculator?
Marginal Tax Rate Calculator Knowing your income tax rate can help you calculate your tax liability for unexpected income, retirement planning or investment income. This calculator helps you estimate your average tax rate, your current tax bracket, and your marginal tax rate for the 2010 tax year. Please note that this calculator uses the 2010 preliminary tax tables subject to change by the IRS.
When you inherit a annuity how much are you taxed on it?
When you inherit an annuity, the tax implications depend on the type of annuity and how it was structured. Generally, if the annuity is a non-qualified one, the earnings portion is subject to income tax when withdrawn, while the principal may not be taxed. For qualified annuities (like those from retirement accounts), the entire distribution is typically taxable as ordinary income. It's advisable to consult a tax professional to understand the specific tax consequences based on your situation.
What type of tax is the federal income tax?
progressive tax
What type of tax best describe the federal income tax?
progressive
What type of tax brings a higher tax rates the income rises?
progressive
Indinvidual income tax rates are usually this type of tax the higher the income the higher the tax rate?
i think its Progressive(Kaylop)
What is the purpose of the income tax brackets?
Income tax brackets enable the progressive taxation of income.
What type of tax strategy makes consumer pay higher tax rate as income increases?
A progressive tax strategy.
Is the federal income tax proportional progressive or regressive?
The federal income tax is progressive A tax that charges more for higher incomes
The federal income tax is a?
progressive tax
The federal income tax is a _____.?
progressive tax
Is an income tax a progressive shared proportional or regressive tax?
progressive shared
Income tax is considered to be what type of tax?
Income tax is considered a progressive tax because the tax rate increases as the taxpayer's income rises. This means that individuals with higher incomes pay a larger percentage of their income in taxes compared to those with lower incomes. It is typically levied on personal income, corporate profits, and various forms of earnings. The goal of a progressive income tax is to reduce income inequality by redistributing wealth.
What tax as income increase the amount of income tax also increase?
progressive
