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Inheritance taxes, as with other taxes such as income and sales tax, is a way for the government to get revenues that can be used for various expenses that are incurred by the government for the benefit of its citizens.

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14y ago

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Related Questions

Are county governments allowed to tax?

Yes, county governments allowed to tax.


The governments benefit from a tax can be measured by?

tax revenue


How can the federal and state governments both have the power to tax?

The Federal and state governments both have the power to tax because they each have separate expenses in a budget. State governments tax to help pay for state programs. Federal governments tax to help pay for Federal programs.


What is the largest source of tax money for local governments?

income tax :]


How do state governments tax consumers and vendors?

A primary way state governments tax consumers is with a sales tax. Vendors don't pay this tax on the goods they sell but they collect it from customers. They also use income tax and property tax but these are not consumption taxes


What is the property tax that raises the most revenue for local governments?

personal income tax


Are the county governments in the US allowed to tax?

true


Which governments have the power to tax people?

The feredal government


Who is responsible for collecting the property tax?

County Governments


What type of tax levied by the govt on goods and services?

Sales tax Valued added tax (VAT) Purchase tax Stamp duty Import duty Luxury tax All the above are used by various governments round the world and I am sure some governments have invented others.


Does the provincial or federal government decide on the tax amount?

Tax amounts can be determined by both provincial and federal governments, depending on the type of tax. Federal governments typically set rates for national taxes, such as income tax and goods and services tax (GST), while provincial governments set rates for provincial taxes, like sales tax and income tax. Each level of government has its own jurisdiction and authority to legislate tax policies, leading to a combination of federal and provincial tax responsibilities.


Who does the IRS allow to put liens on tax refunds?

Governments