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A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual. It is an example of the concept of fixed tax. One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16) was a form of the poll tax. Poll taxes are administratively cheap because ...
The United States federal government and most state governments impose an income tax.They are determined by applying a tax rate, which may increase as income increases, to taxable income, which is the total income less allowable deductions.
Taxes may be imposed on individuals (natural persons), business entities, estates, trusts, or other forms of organization. Taxes may be based on property, income, transactions, transfers, importations of goods, business activities, or a variety of factors, and are generally imposed on the type of taxpayer for whom such tax base is relevant ...
What Is a Marginal Tax Rate? Your marginal tax rate is the tax rate that applies to your last $1 of adjusted gross income. In the example above, the last $1 fell within the 22% tax bracket, so the ...
A tax levy is a legal mechanism that allows a tax authority to seize your property or assets to satisfy unpaid tax debts. “The government can levy salaries, social security payments and bank ...
A new year can mean many new, exciting things. But it also means that tax season is just around the corner. Soon Americans will have to do the yearly task of filing their tax returns for the ...
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