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Sounds like a description of levies, or taxes.

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Q: What does it mean by A sum of money placed on a person property income of an individual by a government?
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A sum of money placed on a person property or income of an individual by government?

The sum of money placed on a persons property or income by the government is referred to as taxes. In the United States, these taxes are federal and state taxes.


What is a sum of money levied on a person's property or income by a government?

A tax.


What is a direct tax?

A tax, such as an income or property tax, levied directly on the taxpayer.Income tax is a direct tax. Individuals and businesses pay direct taxes to the government on a regular basis and it is calculated on all sources of income accrued by the business or individual.


How is a property tax similar to and different from an income tax?

A property tax is similar to an income tax as both are forms of taxation. However, a property tax is imposed on the value of a person's property, such as their home or land, while an income tax is imposed on an individual's earnings or income. Additionally, the rate and calculation method for these taxes can vary significantly between jurisdictions.


What is a sum of money placed on a person property or income of an income of an individual by a government?

Mortgage


How does a person qualify for a second mortgage?

If they have enough equity in the property and have enough income to take on more debt.If they have enough equity in the property and have enough income to take on more debt.If they have enough equity in the property and have enough income to take on more debt.If they have enough equity in the property and have enough income to take on more debt.


Why are gifts of property not income to the person receiving the gift?

Because the person paying it pays the gift tax.


What is it when a portion of a person's personal income is paid to the government?

If your employer pays part of your personal income directly to the government, that is called withholding taxes.


For individual person which form is required for income tax return filling?

1040


What is individual income tax?

An individuals income tax is the tax the government will take from one person's annual income.The amount of tax will vary depending on the total earnings during the tax year.The tax will also vary depending on the tax rate set by the country's government in which individuals the earnings were made.


What is A measure of a person's ability to pay a tax?

property,income expenditure,size of the family


an amount of money paid to the government based on a person's earnings?

income tax