A report on Income tax
Tax imposed on individuals or entities in respect of the income or profits earned by them (commonly called taxable income).
- Income tax32 related topics with Alpha
Progressive tax
5 linksTax in which the tax rate increases as the taxable amount increases.
Tax in which the tax rate increases as the taxable amount increases.
The term is frequently applied in reference to personal income taxes, in which people with lower income pay a lower percentage of that income in tax than do those with higher income.
Tax
6 linksCompulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs.
Compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs.
Most countries charge a tax on an individual's income as well as on corporate income.
Taxable income
2 linksTaxable income refers to the base upon which an income tax system imposes tax.
Sixteenth Amendment to the United States Constitution
3 linksThe Sixteenth Amendment (Amendment XVI) to the United States Constitution allows Congress to levy an income tax without apportioning it among the states on the basis of population.
Revenue Act of 1861
2 linksThe Revenue Act of 1861, formally cited as ''[http://memory.loc.gov/cgi-bin/ampage?collId=llsl&fileName=012/llsl012.db&recNum=323 Act of August 5, 1861, Chap.
The Revenue Act of 1861, formally cited as ''[http://memory.loc.gov/cgi-bin/ampage?collId=llsl&fileName=012/llsl012.db&recNum=323 Act of August 5, 1861, Chap.
292]'', included the first U.S. Federal income tax statute (see Sec.49).
Pollock v. Farmers' Loan & Trust Co.
3 linksLandmark case of the Supreme Court of the United States.
Landmark case of the Supreme Court of the United States.
The shortfall in revenue was to be made up by an income tax of two percent on income above $4,000, equivalent to $ today.
Income tax in the United States
2 linksIncome taxes in the United States are imposed by the federal government, and most states.
Income taxes in the United States are imposed by the federal government, and most states.
The income taxes are determined by applying a tax rate, which may increase as income increases, to taxable income, which is the total income less allowable deductions.
Robert Peel
1 linksBritish Conservative statesman who served twice as Prime Minister of the United Kingdom (1834–1835 and 1841–1846) simultaneously serving as Chancellor of the Exchequer (1834–1835) and twice as Home Secretary (1822–1827 and 1828–1830).
British Conservative statesman who served twice as Prime Minister of the United Kingdom (1834–1835 and 1841–1846) simultaneously serving as Chancellor of the Exchequer (1834–1835) and twice as Home Secretary (1822–1827 and 1828–1830).
He cut tariffs to stimulate trade, replacing the lost revenue with a 3% income tax.
Corporate tax
0 linksOften determined much like taxable income for individual taxpayers.
Often determined much like taxable income for individual taxpayers.
The tax systems of most countries impose an income tax at the entity level on the certain type(s) of entities (company or corporation).
William Pitt the Younger
1 linksBritish Tory statesman of the late eighteenth and early nineteenth centuries.
British Tory statesman of the late eighteenth and early nineteenth centuries.
Pitt was also forced to introduce Great Britain's first-ever income tax.