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.To tax (from the Latin taxo; "I estimate", which in turn is from tangō; "I touch") is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law.^ The nature of the fellowship is such that we are neither employed by NRC, nor by the lab we work in, yet we are not required to pay self-employment taxes.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ For instance, you don't pay state and local taxes on U.S. Treasuries--just the federal tab.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ The money that goes into an escrow account is used to pay for expenses such as real estate taxes, property taxes, and homeowners insurance.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Taxes are also imposed by many subnational entities. .Taxes consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent (often but not always unpaid).^ You won't owe anything on the contribution since you've already paid the tax tab on that money.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ An additional benefit is that you can always withdraw the contributions without penalty or tax if you need the money.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ It often pays to sell before the distribution if you qualify for the 15% federal capital gains tax rate--but not always.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.A tax may be defined as a "pecuniary burden laid upon individuals or property owners to support the government […] a payment exacted by legislative authority."^ Also, who decides, upon my parents' deaths, the value of the property in order to calculate the amount of inheritance tax?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

[1] .A tax "is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority" and is "any contribution imposed by government […] whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other name."^ Reduction in customs and excise duties .
  • TAXATION IN INDIA 24 January 2010 18:29 UTC siadipp.nic.in [Source type: FILTERED WITH BAYES]

^ A tax is a payment, exacted by authority, from part of the community, for the benefit of the whole.
  • Taxation No Tyranny - Samuel Johnson 24 January 2010 18:29 UTC www.samueljohnson.com [Source type: Original source]

^ Value added tax and Customs duties .
  • taxation.ch:  Swiss Taxation Taxes in Switzerland Swiss Taxes 24 January 2010 18:29 UTC www.taxation.ch [Source type: FILTERED WITH BAYES]

[1]
.In modern taxation systems, taxes are levied in money, but in-kind and corvée taxation are characteristic of traditional or pre-capitalist states and their functional equivalents.^ By the way, in most cases it does not make sense to Roth if you have to use your retirement savings money to pay the tax levy.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Uncle Sam levies income taxes on the inflation-adjusted gains before you get any of the inflation-adjusted money at maturity.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ When you withdraw money from your 401(k) and traditional IRA it will be taxed at your ordinary income rate.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.The method of taxation and the government expenditure of taxes raised is often highly debated in politics and economics.^ Governments raise tax to finance their expenditure.
  • Activities of the European Union - Taxation 24 January 2010 18:29 UTC europa.eu [Source type: Original source]

^ Taxation is as much a political issue as an economic issue.
  • Taxation in the United States - Encyclopedia of Earth 24 January 2010 18:29 UTC www.eoearth.org [Source type: FILTERED WITH BAYES]

^ For governments, the tax system is a method of raising revenues.
  • The Tax System of the United States 16 September 2009 8:20 UTC revolution.allbest.ru [Source type: Original source]

.Tax collection is performed by a government agency such as Canada Revenue Agency, the Internal Revenue Service (IRS) in the United States, or Her Majesty's Revenue and Customs (HMRC) in the UK.^ Question: Is it better to owe the federal/state government tax, or receive a refund?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ In light of the government's obligations that you mention, such as national defense, Social Security, health care, and the budget deficit it's likely that taxes will go up.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ You don't want to get into trouble with Uncle Sam and the Internal Revenue Service.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.When taxes are not fully paid, civil penalties (such as fines or forfeiture) or criminal penalties (such as incarceration)[2] may be imposed on the non-paying entity or individual.^ Yes, you'll have to fork over capital gains tax and income taxes, but you won't have to pay Uncle Sam the 10% penalty imposed on early withdrawals from retirement savings plans like IRAs or 401(k)s.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Contents

Purposes and effects

.Funds provided by taxation have been used by states and their functional equivalents throughout history to carry out many functions.^ Use tax is imposed on goods and certain services purchased out of state and brought into South Carolina or on which no sales tax has been paid.
  • Sales and Use Tax 10 January 2010 6:35 UTC www.sctax.org [Source type: News]

^ With regards to taxpayers who become defaulters, the taxation department first issues a warning notification, after which several sanctions can be carried out as found suited.
  • The Entrepreneur - Cameroon's Premier Economic & Business Journal: Cameroon Tax System Experiencing Reforms 16 September 2009 8:20 UTC www.entrepreneurnewsonline.com [Source type: General]

^ Taxation is the process whereby charges are imposed on individuals or property by a state or a functional equivalent of a state to raise funds for public purposes.
  • Taxation and Tax - Guide to Taxation and Taxes Law 24 January 2010 18:29 UTC www.hg.org [Source type: FILTERED WITH BAYES]

Some of these include expenditures on war, the enforcement of law and public order, protection of property, economic infrastructure (roads, legal tender, enforcement of contracts, etc.), public works, .social engineering, and the operation of government itself.^ "Government" is a social-political institution which itself uses Land, Labor and Capital.

Governments also use taxes to fund welfare and public services. These services can include education systems, health care systems, pensions for the elderly, unemployment benefits, and public transportation. Energy, water and waste management systems are also common public utilities. .Colonial and modernizing states have also used cash taxes to draw or force reluctant subsistence producers into cash economies.^ Taxes are also used to tune the economy.
  • Regressive, Progressive taxes/taxation explained. 16 September 2009 8:20 UTC www.psnw.com [Source type: Original source]

^ It is presumed that a motor vehicle used in another state, territory of the United States, or District of Columbia for 6 months or longer before being brought into Florida was not purchased for use in Florida.
  • FL Dept Rev - Florida Tax Information 19 September 2009 13:14 UTC dor.myflorida.com [Source type: Reference]

^ AARA 2009 - Tax Deduction for Vehicle Purchases The 2009 American Recovery and Reinvestment Act puts money into the struggling economy with individual and business tax relief.
  • Taxes Help and Information 10 January 2010 6:35 UTC www.bellaonline.com [Source type: General]

.Governments use different kinds of taxes and vary the tax rates.^ Florida's sales and use tax rate is 6%.
  • FL Dept Rev - Learn about specific taxes 19 September 2009 13:14 UTC dor.myflorida.com [Source type: News]

^ Tax Rates The tax rates vary from county to county and from town to town.

^ It is worthwhile to briefly consider tax types that are not currently important in the U.S. because these mechanisms are used in other countries or are central in various proposals to reform the U.S. tax system .
  • Tax alternatives in the United States - Encyclopedia of Earth 10 January 2010 6:35 UTC www.eoearth.org [Source type: FILTERED WITH BAYES]

.This is done to distribute the tax burden among individuals or classes of the population involved in taxable activities, such as business, or to redistribute resources between individuals or classes in the population.^ Local Individual and Business tax .
  • http://bogercpa.com/ 10 January 2010 6:35 UTC bogercpa.com [Source type: News]

^ Principles of taxation - Distribution of tax burdens .
  • taxation -- Britannica Online Encyclopedia 24 January 2010 18:29 UTC www.britannica.com [Source type: Reference]

^ Reduce the burden of business taxes .

.Historically, the nobility were supported by taxes on the poor; modern social security systems are intended to support the poor, the disabled, or the retired by taxes on those who are still working.^ Her last years' earnings were $1646, no federal or state taxes withheld, just social security and medicare.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Question: My parents are receiving social security and do not file income tax.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ (Withdrawals from a 401(k), 403(b), and comparable retirement savings plans are still taxed at your ordinary income tax rate.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.In addition, taxes are applied to fund foreign and military aid, to influence the macroeconomic performance of the economy (the government's strategy for doing this is called its fiscal policy - see also tax exemption), or to modify patterns of consumption or employment within an economy, by making some classes of transaction more or less attractive.^ Maybe asked another way, are there tax incentives that make charitable spending more attractive in a down economy?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ But then more recently I heard that the government changed that tax policy for short sales.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Am I better off taking some of my money and putting it into something post tax for more diversification?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.A nation's tax system is often a reflection of its communal values or the values of those in power.^ As a result of those analyses, there have been two tax reforms approved on December 2002 and February 2005 which have modified the tax system in relatively large sense.

^ The tax burden is often cited as being one of our weak points, being considered too weighty and too complex, but the system has been considerably reformed over the past several years.
  • IFA: Corporate taxes in France, friendly tax system for business investment opportunities 16 September 2009 8:20 UTC www.invest-in-france.org [Source type: FILTERED WITH BAYES]

^ Far from weakening state sovereignty, as is sometimes suggested, stronger tax cooperation is the best way to strengthen national tax systems in this age of globally mobile capital.

.To create a system of taxation, a nation must make choices regarding the distribution of the tax burden—who will pay taxes and how much they will pay—and how the taxes collected will be spent.^ How are you forced to pay taxes?
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ Do they pay taxes ?
  • Nightly Business Report . Search | PBS 16 September 2009 8:20 UTC www.pbs.org [Source type: General]

^ I'm not debating how taxes are spent, this is about how they're collected.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

.In democratic nations where the public elects those in charge of establishing the tax system, these choices reflect the type of community that the public wishes to create.^ Furthermore, if the Democrats are elected to the White House in 2009, the capital gains tax is going to rise.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ I don't think it was good tax policy or public policy that these wealthy families escaped Uncle Sam's tax bill.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ You'll want to both establish a system for setting aside some money for what you might owe come April 15th (yes, pay those estimated taxes).
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.In countries where the public does not have a significant amount of influence over the system of taxation, that system may be more of a reflection on the values of those in power.^ As a matter of fact, amending the taxation system of the country requires the correction of the attitudes that exist towards the tax issue in both macro and micro sections of the economy.
  • Iran's Taxation System 24 January 2010 18:29 UTC www.parstimes.com [Source type: FILTERED WITH BAYES]

^ The essence of the system is to therefore collect sufficient funds from public (richer should contribute more than the poor) and then use those funds prudently for the welfare of the same public.
  • Introduction to Taxation 24 January 2010 18:29 UTC www.ghazanfar.com [Source type: Original source]

^ By applying this common methodology to disparate subjects, The Theory of Taxation and Public Economics produces significant cross-fertilization and yields solutions to previously intractable problems.
  • Kaplow, L.: The Theory of Taxation and Public Economics. 24 January 2010 18:29 UTC press.princeton.edu [Source type: Academic]

.The resource collected from the public through taxation is always greater than the amount which can be used by the government.^ He describes the systems of public finance they created to reduce taxation, and reveals how they gained control over taxes through elected representatives in colonial legislatures.
  • Rabushka, A.: Taxation in Colonial America. 24 January 2010 18:29 UTC press.princeton.edu [Source type: General]

^ Rather than award individuals such a huge privilege, most communities build roads collectively, financing them through taxation.
  • The Canons of Taxation 24 January 2010 18:29 UTC www.henrygeorge.org [Source type: Original source]

^ The system of taxation is therefore considered as a way of earning income by the governments so that after its collection governors on behalf of public may spend it prudently for their welfare.
  • Introduction to Taxation 24 January 2010 18:29 UTC www.ghazanfar.com [Source type: Original source]

.The difference is called compliance cost, and includes for example the labour cost and other expenses incurred in complying with tax laws and rules.^ Complies with all the latest tax laws.
  • Tax Return - Online Tax Return Preparation, Federal & State Income Tax Returns Online. Free E-File & Fast Tax Refund. 10 January 2010 6:35 UTC www.preparetaxreturn.com [Source type: General]

^ Tax Credit includes installation costs.
  • Federal Tax Credits for Energy Efficiency : ENERGY STAR 10 January 2010 6:35 UTC www.energystar.gov [Source type: General]

^ Other examples of regressive taxes and fees.
  • Regressive, Progressive taxes/taxation explained. 16 September 2009 8:20 UTC www.psnw.com [Source type: Original source]

The collection of a tax in order to spend it on a specified purpose, for example collecting a tax on alcohol to pay directly for alcoholism rehabilitation centres, is called hypothecation. This practice is often disliked by finance ministers, since it reduces their freedom of action. .Some economic theorists consider the concept to be intellectually dishonest since (in reality) money is fungible.^ Did the contractors who re-did your deck really do it for $1000, or did you give them some money under the table?

^ Let us consider what economic science really has to offer a free and progressive people in this matter of the use of the proper source of public revenue to support government.

^ Soaking the Poor Yet, for some reason there is no real commitment to tax reform about which we have been hearing since 1992.
  • Taxation « ChrisRam.net 24 January 2010 18:29 UTC www.chrisram.net [Source type: Original source]

.Furthermore, it often happens that taxes or excises initially levied to fund some specific government programs are then later diverted to the government general fund.^ While they may be exempt from paying income tax the only way they can generate funds to pay dividends is by having income exceed expenses ...
  • Nightly Business Report . Search | PBS 16 September 2009 8:20 UTC www.pbs.org [Source type: General]

^ Compulsory payroll tax Definition: An automatic tax collected from employers and employees to finance specific programs.

^ Cenvat refers to the median excise duty, tax on manufacture of goods, levied on nearly 90% of the goods made in the more news on: Public finance news .
  • TAXATION.LOVE.COM | All Things taxation 24 January 2010 18:29 UTC taxation.love.com [Source type: General]

.In some cases, such taxes are collected in fundamentally inefficient ways, for example highway tolls.^ March 17, 2009 - By Alistair Barr Taxation might be a way to recoup some portion of the payments, but a 100% tax is really confiscation of property by the government.
  • Taxation - MarketWatch.com Topics 24 January 2010 18:29 UTC www.marketwatch.com [Source type: News]

^ In the case of the failure to file a return, the tax may be assessed, or a proceeding in court for the collection of the tax may begin without assessment at any time [4] .
  • Tax Preparation | How to do my Taxes | IRS Tax Attorney | Prepare Taxes 19 September 2009 13:14 UTC www.irstaxattorney.com [Source type: FILTERED WITH BAYES]

^ For example, lawyers in our group have authored publications such as Taxation of Regulated Investment Companies and Their Shareholders and The Harvard Manual – Tax Aspects of Charitable Giving .
  • Ropes & Gray LLP: Tax 10 January 2010 6:35 UTC www.ropesgray.com [Source type: FILTERED WITH BAYES]

Some economists, especially neo-classical economists, argue that all taxation creates market distortion and results in economic inefficiency. .They have therefore sought to identify the kind of tax system that would minimize this distortion.^ They are virtually privileged by the tax system.
  • Taxation and Redistribution 24 January 2010 18:29 UTC lamar.colostate.edu [Source type: Original source]

^ It opposes protectionism and distortion of competition by means of taxation, and support international cooperation to create a fair and unbiased system governing international tax relations.
  • International Chamber of Commerce 24 January 2010 18:29 UTC www.iccuk.net [Source type: News]

^ He describes the systems of public finance they created to reduce taxation, and reveals how they gained control over taxes through elected representatives in colonial legislatures.
  • Rabushka, A.: Taxation in Colonial America. 24 January 2010 18:29 UTC press.princeton.edu [Source type: General]

.Also, one of every government's most fundamental duties is to administer possession and use of land in the geographic area over which it is sovereign, and it is considered economically efficient for government to recover for public purposes the additional value it creates by providing this unique service.^ Taxation can be considered as one of the most sensitive areas for the government and investors.

^ Instead of tending to the basics, government has grown into a bloated conglomerate of political services that gets larger every year -- with no end in sight.
  • Taxes | Libertarian Party 10 January 2010 6:35 UTC www.lp.org [Source type: News]

^ Disclaimer: The information provided on Lawyers.com is not legal advice, Lawyers.com is not a lawyer referral service, and no attorney-client or confidential relationship is or should be formed by use of the site.
  • Taxation Attorney, Lawyer, Attorneys, Lawyers and Legal Research Information - Lawyers.com 24 January 2010 18:29 UTC taxation.lawyers.com [Source type: Original source]
  • Taxation Law Blog 24 January 2010 18:29 UTC taxation.lawyers.com [Source type: General]
  • Chapter 13 Bankruptcy Tax Tool - Lawyers.com 10 January 2010 6:35 UTC bankruptcy.lawyers.com [Source type: General]

.Since governments also resolve commercial disputes, especially in countries with common law, similar arguments are sometimes used to justify a sales tax or value added tax.^ But then more recently I heard that the government changed that tax policy for short sales.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Others (e.g. .libertarians) argue that most or all forms of taxes are immoral due to their involuntary (and therefore eventually coercive/violent) nature.^ Most if not all of these would be taxed .
  • PolitiFact | Taxes statements 10 January 2010 6:35 UTC www.politifact.com [Source type: FILTERED WITH BAYES]

^ Tax forms in all 50 states.
  • Taxation Information: Tax Information: Tips & Guides to Prepare your State and Federal Taxes 10 January 2010 6:35 UTC taxes.findlaw.com [Source type: General]

^ The first myth is that all the money that a person receives through employment or business is money they are fully entitled to and that the taking of that money through tax is a form of theft.

.The most extreme anti-tax view is anarcho-capitalism, in which the provision of all social services should be voluntarily bought by the person(s) using them.^ But if you earned $65,000 and sold $20,000 worth of stock, almost all the stock profit is subject to the 15% capital gains tax treatment.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ All this talk of stimulus packages, however, has me wondering: should I hold off on mailing my tax return?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ By the way, in most cases it does not make sense to Roth if you have to use your retirement savings money to pay the tax levy.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

The Four "R"s

.Taxation has four main purposes or effects: Revenue, Redistribution, Repricing, and Representation.^ It emphasizes the relationships among the main functions of taxation -- notably, raising revenue, redistributing income, and correcting externalities -- and the mapping between these functions and various forms of taxation.
  • Taxation 24 January 2010 18:29 UTC papers.nber.org [Source type: Academic]

^ We shall discuss here mainly the effects of a progressive income tax because in recent times it has been used as the main instrument for making taxation as a whole steeply progressive.
  • Taxation and Redistribution 24 January 2010 18:29 UTC lamar.colostate.edu [Source type: Original source]

^ However, the rules discussed in this section pertain to ministers as defined by the Internal Revenue Code ("Code"), and this definition is the same for both self-employment and income taxation purposes.
  • PC(USA) - Legal Resource Manual - Taxation 24 January 2010 18:29 UTC www.pcusa.org [Source type: FILTERED WITH BAYES]

[3]
The main purpose is revenue: taxes raise money to spend on roads, schools and hospitals, and on more indirect government functions like market regulation or legal systems. This is the most widely known function.[3]
A second is redistribution. .Normally, this means transferring wealth from the richer sections of society to poorer sections.^ To advocate progressive taxation is to oppose regressive tax systems where the poorer sections of society pay a higher share of their income.

A third purpose of taxation is repricing. Taxes are levied to address externalities: tobacco is taxed, for example, to discourage smoking, and many people advocate policies such as implementing a carbon tax.[3]
A fourth, consequential effect of taxation in its historical setting has been representation.[3] .The American revolutionary slogan "no taxation without representation" implied this: rulers tax citizens, and citizens demand accountability from their rulers as the other part of this bargain.^ Accountability - Tax systems should be accountable to citizens.
  • Guiding Principles of a Fair and Effective Tax System Prepared for the Washington State Tax Structure Committee - Policy Note - Washington Policy Center 16 September 2009 8:20 UTC www.washingtonpolicy.org [Source type: Original source]

^ That brings us back to "no taxation without representation."
  • Is Taxation Theft? - Hit & Run : Reason Magazine 24 January 2010 18:29 UTC reason.com [Source type: Original source]

^ Start your search on No Taxation Without Representation .
  • No Taxation Without Representation 24 January 2010 18:29 UTC www.virtualology.com [Source type: Original source]

.Several studies[citation needed] have shown that direct taxation (such as income taxes) generates the greatest degree of accountability and better governance, while indirect taxation tends to have smaller effects.^ Question: Is it better to owe the federal/state government tax, or receive a refund?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Since our annual income is around $34,000, we tend to get all of our tax money back at the end of the year (at least until I'm out of college).
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ In light of the government's obligations that you mention, such as national defense, Social Security, health care, and the budget deficit it's likely that taxes will go up.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

[4][5]

Proportional, progressive, and regressive

.An important feature of tax systems is the percentage of the tax burden as it relates to income or consumption.^ The most progressive tax in the tax system is the income tax.
  • The Tax System of the United States 16 September 2009 8:20 UTC revolution.allbest.ru [Source type: Original source]

^ It opposes protectionism and distortion of competition by means of taxation, and support international cooperation to create a fair and unbiased system governing international tax relations.
  • International Chamber of Commerce 24 January 2010 18:29 UTC www.iccuk.net [Source type: News]

^ It has been demonstrated that taxes on intermediate transactions are inefficient because the same revenue can better be obtained by taxing income or consumption [33] .
  • Taxation - encyclopedia article - Citizendium 24 January 2010 18:29 UTC en.citizendium.org [Source type: FILTERED WITH BAYES]

.The terms progressive, regressive, and proportional are used to describe the way the rate progresses from low to high, from high to low, or proportionally.^ A 55-plus colleague of mine, for example, sees it as a way to give him low-cost cash he can use to pay down his high-cost mortgage.
  • Canada's tax system favours the old over the young 16 September 2009 8:20 UTC www.canada.com [Source type: General]

^ Further, the measure provided a progressive tax structure, meaning that high income earners were required to pay at higher rates.

^ US Portions of this page are modifications based on work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License .
  • Tag: Taxation - Explore content tagged Taxation on eHow.com 24 January 2010 18:29 UTC www.ehow.com [Source type: General]
  • Tag: Tax - Explore content tagged Tax on eHow.com 10 January 2010 6:35 UTC www.ehow.com [Source type: General]

.The terms describe a distribution effect, which can be applied to any type of tax system (income or consumption) that meets the definition.^ The most progressive tax in the tax system is the income tax.
  • The Tax System of the United States 16 September 2009 8:20 UTC revolution.allbest.ru [Source type: Original source]

^ These types of capital gains are taxed at 28%, 28% and 25% respectively (unless your ordinary income tax bracket is a lower rate).
  • 1040 Tax Calculator - Financial Calculators from Dinkytown.net 10 January 2010 6:35 UTC www.dinkytown.net [Source type: General]

^ The logic of this argument applies only at the top of the income distribution, because changes in marginal tax rates below this level affect the taxes paid by people with higher incomes.
  • Optimal Taxation: From The Encyclopedia of Taxation and Tax Policy 24 January 2010 18:29 UTC www.urban.org [Source type: Academic]

A progressive tax is a tax imposed so that the effective tax rate increases as the amount to which the rate is applied increases. The opposite of a progressive tax is a regressive tax, where the effective tax rate decreases as the amount to which the rate is applied increases. In between is a proportional tax, where the effective tax rate is fixed, while the amount to which the rate is applied increases. .The terms can also be used to apply meaning to the taxation of select consumption, such as a tax on luxury goods and the exemption of basic necessities may be described as having progressive effects as it increases a tax burden on high end consumption and decreases a tax burden on low end consumption.^ Principles of taxation - Distribution of tax burdens .
  • taxation -- Britannica Online Encyclopedia 24 January 2010 18:29 UTC www.britannica.com [Source type: Reference]

^ Benefits of a low tax burden .
  • Guiding Principles of a Fair and Effective Tax System Prepared for the Washington State Tax Structure Committee - Policy Note - Washington Policy Center 16 September 2009 8:20 UTC www.washingtonpolicy.org [Source type: Original source]

^ Progressive & Regressive taxes/taxation explained.
  • Regressive, Progressive taxes/taxation explained. 16 September 2009 8:20 UTC www.psnw.com [Source type: Original source]

[6][7][8]

Direct and indirect

.Taxes are sometimes referred to as direct tax or indirect tax.^ Direct taxes - - Indirect taxes .
  • taxation -- Britannica Online Encyclopedia 24 January 2010 18:29 UTC www.britannica.com [Source type: Reference]

^ Classes of taxes - Direct and indirect taxes .
  • taxation -- Britannica Online Encyclopedia 24 January 2010 18:29 UTC www.britannica.com [Source type: Reference]

^ Direct and indirect taxes - - Direct taxes .
  • taxation -- Britannica Online Encyclopedia 24 January 2010 18:29 UTC www.britannica.com [Source type: Reference]

.The meaning of these terms can vary in different contexts, which can sometimes lead to confusion.^ He's a confused idiot not only about the difference between the terms voluntary and free will but about the actual tax law.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ Different these words are in 2009, as it means, how they can tease the consumer to spend beyond their means again and stay in debt.
  • NJ Income Tax, Stimulus package rebates refunds money, New Jersey, File Taxes, Bigger Refund, Homestead Rebates, individual, Returns, Tax Information, info 10 January 2010 6:35 UTC www.njstatetax.net [Source type: General]

.In economics, direct taxes refer to those taxes that are collected from the people or organizations on whom they are ostensibly imposed.^ We know that you are concerned about your tax responsibilities, and we assist you with those responsibilities by providing you with general information, as is contained in this message, and by organizing tax workshops.
  • ISSO | Taxes | 2004 Tax Bulletin 19 September 2009 13:14 UTC web.bu.edu [Source type: FILTERED WITH BAYES]

^ The VITA program gives students the opportunity to help low to moderate income people who cannot prepare thei own tax returns.
  • Graduate LLM Taxation 24 January 2010 18:29 UTC www.law.temple.edu [Source type: FILTERED WITH BAYES]

^ As a proxy for taxing ability, the government taxes income but must recognize that the income tax gives people incentives to change how hard they work to escape taxation.
  • Optimal Taxation: From The Encyclopedia of Taxation and Tax Policy 24 January 2010 18:29 UTC www.urban.org [Source type: Academic]

.For example, income taxes are collected from the person who earns the income.^ To collect INCOME TAX , for example, you need a meaningful definition of INCOME .
  • Economics A-Z | Economist.com 24 January 2010 18:29 UTC www.economist.com [Source type: FILTERED WITH BAYES]

^ Tennessee does not tax earned income.
  • Taxes | Rutherford County, Tennessee | Rutherford County Chamber of Commerce 10 January 2010 6:35 UTC www.rutherfordchamber.org [Source type: News]

^ What is the earned income credit and who qualifies for it?

.By contrast, indirect taxes are collected from someone other than the person ostensibly responsible for paying the taxes.^ Who is responsible for paying taxes?
  • Denton County, Texas - Property Tax 10 January 2010 6:35 UTC tax.dentoncounty.com [Source type: FILTERED WITH BAYES]

^ Can I pay my taxes in other than American dollars?

^ Personal liability for tax; remedies for collection .

.In law, the terms may have different meanings.^ This means that a prior law must be enacted first by the congress before assessment and collection may be implemented of the 1987 constitution.
  • Concepts of Taxation 24 January 2010 18:29 UTC www.slideshare.net [Source type: FILTERED WITH BAYES]

^ He's a confused idiot not only about the difference between the terms voluntary and free will but about the actual tax law.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ A change in the tax law means you may not receive your Forms 1099 until weeks later than you expect them.
  • Tax Guide for Investors from Fairmark.com 10 January 2010 6:35 UTC fairmark.com [Source type: General]

In U.S. constitutional law, for instance, direct taxes refer to poll taxes and property taxes, which are based on simple existence or ownership. .Indirect taxes are imposed on rights, privileges, and activities.^ There are taxes that are imposed or levied on acts, rights or privileges.
  • Concepts of Taxation 24 January 2010 18:29 UTC www.slideshare.net [Source type: FILTERED WITH BAYES]

^ A privilege tax of 1% of sales price, with a maximum of $80 per article, is imposed on purchasers of manufacturing machinery, parts, and accessories stored, used, or consumed in the state.

^ VAT is an indirect tax imposed on the value added of each stage of production and distribution.
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

.Thus, a tax on the sale of property would be considered an indirect tax, whereas the tax on simply owning the property itself would be a direct tax.^ Direct taxes - - Indirect taxes .
  • taxation -- Britannica Online Encyclopedia 24 January 2010 18:29 UTC www.britannica.com [Source type: Reference]

^ We would be responsible for the yearly property taxes.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Classes of taxes - Direct and indirect taxes .
  • taxation -- Britannica Online Encyclopedia 24 January 2010 18:29 UTC www.britannica.com [Source type: Reference]

.The distinction can be subtle between direct and indirect taxation, but can be important under the law.^ In any case after amendment of the Direct Taxation Law in 1987, and positive changes in some macro economic variables, the share of indirect taxes came down and the share of direct taxes went up, so that the share of direct and indirect taxes changed from 59% and 41% to 60% and 40% respectively.
  • Taxation in Iran 24 January 2010 18:29 UTC www.parstimes.com [Source type: FILTERED WITH BAYES]

^ Income tax [electronic resource] : a concise exposition of the law and practice thereof, with instructions as to filling up and returning the necessary forms : to which is prefixed a short thesis on direct and indirect taxation, with forms / by Thomas C. .

^ According to Article 93 of the Direct Taxation Law, the income gained by a real person in Iran through his occupation will be taxable after taking account of the prescribed deductions.
  • Taxation in Iran 24 January 2010 18:29 UTC www.parstimes.com [Source type: FILTERED WITH BAYES]

Tax burden

Diagram illustrating taxes effect
.Law establishes from whom a tax is collected.^ The principle of the non-shiftability of a tax which collects the publicly earned RENT-of-land for public use i is well established in today's economics.

^ With ratification of the Tax Law in 1966, collection of goods and services taxes entered a new phase, and some goods, such as gramophone records, cars etc.
  • Taxation in Iran 24 January 2010 18:29 UTC www.parstimes.com [Source type: FILTERED WITH BAYES]

^ The IRS will take advantage of a taxpayer who is not knowledgeable about the tax law or IRS audit and collection procedures.
  • IRS Tax Attorney - Back Taxes - Help - Offer in Compromise - Lien & LevyRemoval - IRS Examination - Garnishment - 10 January 2010 6:35 UTC www.irstaxattorney.com [Source type: FILTERED WITH BAYES]

In many countries, taxes are imposed on business (such as corporate taxes or portions of payroll taxes). However, who ultimately pays the tax (the tax "burden") is determined by the marketplace as taxes become embedded into production costs. .Depending on how quantities supplied and demanded vary with price (the "elasticities" of supply and demand), a tax can be absorbed by the seller (in the form of lower pre-tax prices), or by the buyer (in the form of higher post-tax prices).^ We’ve heard many times about how it restricts innovation by discouraging investments, or how higher tax rates actually have the seemingly perverse impact of decreasing [...

^ By maintaining the assumption that supply of all goods is perfectly elastic, Ramsey's solution to this problem yields an elegant rule: The optimal set of commodity taxes leads to an equal percentage reduction in the compensated (Hicksian) demands for all goods.
  • Optimal Taxation: From The Encyclopedia of Taxation and Tax Policy 24 January 2010 18:29 UTC www.urban.org [Source type: Academic]

^ This paper measures how the economic burden of the tobacco tax is split between consumers and retail sellers....
  • Taxation | Business solutions from AllBusiness.com 24 January 2010 18:29 UTC www.allbusiness.com [Source type: News]

.If the elasticity of supply is low, more of the tax will be paid by the supplier.^ Actually, McCain has supported taxing high earners more than low earners.
  • FactCheck.org: Spread the Tax Hooey! 10 January 2010 6:35 UTC www.factcheck.org [Source type: FILTERED WITH BAYES]

^ Instead of being paid to deliver planes, missiles and tanks, defense contractors would receive "weapon supply tax credits" (WSTC).
  • Taxes - Salon.com 10 January 2010 6:35 UTC www.salon.com [Source type: Original source]

^ In any case, the tax must be paid exclusively and in full by the suppliers of the taxed goods.
  • The Economics of Taxation - Hans-Hermann Hoppe - Mises Institute 24 January 2010 18:29 UTC mises.org [Source type: FILTERED WITH BAYES]

If the elasticity of demand is low, more will be paid by the customer. And contrariwise for the cases where those elasticities are high. .If the seller is a competitive firm, the tax burden flows back to the factors of production depending on the elasticities thereof; this includes workers (in the form of lower wages), capital investors (in the form of loss to shareholders), landowners (in the form of lower rents) and entrepreneurs (in the form of lower wages of superintendence).^ These types of capital gains are taxed at 28%, 28% and 25% respectively (unless your ordinary income tax bracket is a lower rate).
  • 1040 Tax Calculator - Financial Calculators from Dinkytown.net 10 January 2010 6:35 UTC www.dinkytown.net [Source type: General]

^ Stephen Moore, November 17, 1999 [CATO] Capital Markets: The Importance of Lower Taxes "The more money that remains in the hands of the private sector, the more will be available to investors to support innovation."
  • Fundamental Tax Reform -- KEVIN CRAIG for Congress 24 January 2010 18:29 UTC kevincraig.us [Source type: Original source]
  • The Problems with Taxation 24 January 2010 18:29 UTC www.liberty-page.com [Source type: FILTERED WITH BAYES]

^ Orszag says there was growth in capital gains realizations in individual tax receipts, but measures such as lower rates on dividends and an increase in the child tax credit, as well as a drop in job wages, caused a reduction in revenues.
  • FactCheck.org: Supply-side Spin 24 January 2010 18:29 UTC www.factcheck.org [Source type: Original source]

To illustrate this relationship, suppose the market price of a product is US$1.00, and that a $0.50 tax is imposed on the product that, by law, is to be collected from the seller. .If the product is a luxury (in the economic sense of the term), a greater portion of the tax will be absorbed by the seller.^ This paper measures how the economic burden of the tobacco tax is split between consumers and retail sellers....
  • Taxation | Business solutions from AllBusiness.com 24 January 2010 18:29 UTC www.allbusiness.com [Source type: News]

^ Most economists agree that the best tax is one that has as little impact as possible on peoples decisions about whether to undertake a productive economic activity.
  • Economics A-Z | Economist.com 24 January 2010 18:29 UTC www.economist.com [Source type: FILTERED WITH BAYES]

^ State and local taxes increasingly account for a greater portion of the total tax burden for many companies.

[9] .This is because a luxury good has elastic demand which would cause a large decline in quantity demanded for a small increase in price.^ Erie County will increase its sales tax revenue because county resident who would normally purchase these goods on the reservation will now have less of an incentive to do so and will purchase them neighborhood stores.

^ This kind of tax does not involve double taxation of sale and consumption, and as its tax base is wide and its rates are small, it would lead to an increase in tax revenue and improvement of the tax system.
  • Taxation in Iran 24 January 2010 18:29 UTC www.parstimes.com [Source type: FILTERED WITH BAYES]

^ Most tax cutters today want tax cuts because they think they are good for the economy, not because they think that it will increase tax revenue.

.Therefore in order to stabilise sales, the seller absorbs more of the additional tax burden.^ Therefore, you will not be charged any additional sales tax for Marketplace purchases.
  • Amazon.com Help: Sales Tax 10 January 2010 6:35 UTC www.amazon.com [Source type: General]

^ This paper measures how the economic burden of the tobacco tax is split between consumers and retail sellers....
  • Taxation | Business solutions from AllBusiness.com 24 January 2010 18:29 UTC www.allbusiness.com [Source type: News]

^ The Fair Tax would make American manufacturing more competitive, since the sales tax would apply to both U.S. and foreign consumer products equally.
  • Offshore News: Towards a Truly Progressive Tax System - Offshore Asset Protection, Offshore Banking, Tax Havens, Offshore Merchant Accounts 16 September 2009 8:20 UTC www.offshore-income.com [Source type: FILTERED WITH BAYES]

.For example, the seller might drop the price of the product to $0.70 so that, after adding in the tax, the buyer pays a total of $1.20, or $0.20 more than he did before the $0.50 tax was imposed.^ Tax Rate: Not more than 1%.
  • Iowa Department of Revenue - Iowa Taxes 19 September 2009 13:14 UTC www.iowa.gov [Source type: FILTERED WITH BAYES]

^ The rich aren’t paying any taxes any more!

^ Today’s children pay more than that in sales taxes.
  • Sobran's --- Taxation through the Ages 24 January 2010 18:29 UTC www.sobran.com [Source type: Original source]

.In this example, the buyer has paid $0.20 of the $0.50 tax (in the form of a post-tax price) and the seller has paid the remaining $0.30 (in the form of a lower pre-tax price).^ This could be the case if, for example, the property is awaiting rehabilitation or demolition, or if the owner has not been able to find a tenant or buyer because of high market prices.
  • French Riviera Luxury Villa - Taxation on Real Estate Investments 24 January 2010 18:29 UTC www.burger-sothebysrealty.fr [Source type: General]

^ The essential fact of these programs was to lower the price of land and to give tax reductions on improvements as incentives to prospective builders.

^ For example, payments not included in federal gross income include premiums paid through an employer sponsored plan in which the payments are excluded from taxable wages (pre-taxed dollars).

[10]

History

Taxation levels

Egyptian peasants seized for non-payment of taxes. (Pyramid Age)
The first known system of taxation was in Ancient Egypt around 3000 BC - 2800 BC in the first dynasty of the Old Kingdom.[11] .Records from the time document that the pharaoh would conduct a biennial tour of the kingdom, collecting tax revenues from the people.^ This tax would be easy and cheap to collect.

^ The main objective of SAS is to inculcate a practice of voluntary compliance by taxpayers and at the same time, reduce the workload of the IRB to enable them to focus on tax audits and increase collection revenue .
  • Vertical Limit Consulting - Malaysian Tax System 16 September 2009 8:20 UTC www.vlc.com.my [Source type: FILTERED WITH BAYES]

^ Why is the government unable to collect all taxes due from a five-time Grammy winner generating significant cash flow?
  • Big names owe big-time on taxes - USATODAY.com 10 January 2010 6:35 UTC www.usatoday.com [Source type: News]

Other records are granary receipts on limestone flakes and papyrus.[12] Early taxation is also described in the Bible. In Genesis (chapter 47, verse 24 - the New International Version), it states "But when the crop comes in, give a fifth of it to Pharaoh. .The other four-fifths you may keep as seed for the fields and as food for yourselves and your households and your children."^ You may, however, choose to consider your rental income as an effectively connected U.S. business activity.

^ You may also need to pay estimated taxes if you have taxable income from interest, dividends, rental property, or other sources.
  • Idaho Small Business Solutions - Taxes 10 January 2010 6:35 UTC www.idahobizhelp.org [Source type: FILTERED WITH BAYES]

^ Open a separate bank account for your business so that you can keep those funds apart from your personal assets.
  • Tax Services for Small Business | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

Joseph was telling the people of Egypt how to divide their crop, providing a portion to the Pharaoh. .A share (20%) of the crop was the tax.^ This, in turn, led to an extraordinary increase in the aggregate tax burden, with Federal taxes as a share of GDP reaching a postwar high of 20.8 percent in 2000.
  • U.S. Treasury - Fact Sheet on the History of the U.S. Tax System 10 January 2010 6:35 UTC www.ustreas.gov [Source type: FILTERED WITH BAYES]

^ Tax cuts following the war reduced the Federal tax burden as a share of GDP from its wartime high of 20.9 percent in 1944 to 14.4 percent in 1950.
  • U.S. Treasury - Fact Sheet on the History of the U.S. Tax System 10 January 2010 6:35 UTC www.ustreas.gov [Source type: FILTERED WITH BAYES]

^ Dividends, share in the net profits of a taxable partnership, interests, royalties (in any form), and prizes exceeding P10, 000 are taxed at 20% of the total amount.
  • Taxation 24 January 2010 18:29 UTC www.us-asean.org [Source type: FILTERED WITH BAYES]

In India, Islamic rulers imposed jizya starting in the 11th century. It was abolished by Akbar.
.Quite a few records of government tax collection in Europe since at least the 17th century are still available today.^ Why is the government unable to collect all taxes due from a five-time Grammy winner generating significant cash flow?
  • Big names owe big-time on taxes - USATODAY.com 10 January 2010 6:35 UTC www.usatoday.com [Source type: News]

^ Most income taxes are collected by the federal government, which collects 81 percent of all individual income taxes and 81.5 percent of all corporate income taxes.
  • The Tax System of the United States 16 September 2009 8:20 UTC revolution.allbest.ru [Source type: Original source]

^ There were taxes on houses, on the baskets used for transporting the collected dues to Alexandria, on burials, on company property, on property transfers, and quite a few more [ 7 ] .
  • Dues and duties in ancient Egypt 24 January 2010 18:29 UTC nefertiti.iwebland.com [Source type: Original source]

.But taxation levels are hard to compare to the size and flow of the economy since production numbers are not as readily available.^ Moreover, it reduces the present incentive for future production of valuable assets and thereby also lowers future income and the future level of available consumption.
  • The Economics of Taxation - Hans-Hermann Hoppe - Mises Institute 24 January 2010 18:29 UTC mises.org [Source type: FILTERED WITH BAYES]

^ The rate of taxation above that level was of little concern, since virtually every small business would be exempt from taxation.
  • Obama Plans to Keep Estate Tax - WSJ.com 10 January 2010 6:35 UTC online.wsj.com [Source type: News]

^ Any measure, therefore, which discourages, restricts or interferes with production must lower the general economy, and taxation-for-social-purposes is distinctly such a measure.
  • Taxation is Robbery, by Frank Chodorov 24 January 2010 18:29 UTC mises.org [Source type: Original source]

Government expenditures and revenue in France during the 17th century went from about 24.30 million livres in 1600-10 to about 126.86 million livres in 1650-59 to about 117.99 million livres in 1700-10 when government debt had reached 1.6 billion livres. In 1780-89 it reached 421.50 million livres.[13] Taxation as a percentage of production of final goods may have reached 15% - 20% during the 17th century in places like France, the Netherlands, and Scandinavia. .During the war-filled years of the eighteenth and early nineteenth century, tax rates in Europe increased dramatically as war became more expensive and governments became more centralized and adept at gathering taxes.^ Other taxes have also increased at dizzying rates.
  • Sobran's --- Taxation through the Ages 24 January 2010 18:29 UTC www.sobran.com [Source type: Original source]

^ Tax Rate: Not more than 1%.
  • Iowa Department of Revenue - Iowa Taxes 19 September 2009 13:14 UTC www.iowa.gov [Source type: FILTERED WITH BAYES]

^ More tax money results in more government.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

This increase was greatest in England, Peter Mathias and Patrick O'Brien found that the tax burden increased by 85% over this period. .Another study confirmed this number, finding that per capita tax revenues had grown almost sixfold over the eighteenth century, but that steady economic growth had made the real burden on each individual only double over this period before the industrial revolution.^ Mainly items which have been introduced are as follows: number of days working within Panama , individual tax burden as per taxable income brackets, a new method for calculating income tax and social security threshold.

^ Orszag says there was growth in capital gains realizations in individual tax receipts, but measures such as lower rates on dividends and an increase in the child tax credit, as well as a drop in job wages, caused a reduction in revenues.
  • FactCheck.org: Supply-side Spin 24 January 2010 18:29 UTC www.factcheck.org [Source type: Original source]

^ Internal Revenue Service Ruling 83-3 attempted to eliminate this "double benefit," but it was restored in the 1986 Tax Reform Act.
  • PC(USA) - Legal Resource Manual - Taxation 24 January 2010 18:29 UTC www.pcusa.org [Source type: FILTERED WITH BAYES]

.Average tax rates were higher in Britain than France the years before the French Revolution, twice in per capita income comparison, but they were mostly placed on international trade.^ My average weekly income before taxes is $550 to $600.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Its emergence is reminiscent of the U.S. in the years after the Civil War when America's industrial output lagged far behind that of Germany, France, and Britain.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ That is, until you cash it in and then you pay ordinary income tax rates on the gain.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.In France, taxes were lower but the burden was mainly on landowners, individuals, and internal trade and thus created far more resentment.^ For example, most travelling salesmen drive themselves around; lower taxes would make it economic to use specialist drivers – thus creating more working time (and probably safer journeys to boot).
  • IEA Blog » taxation 24 January 2010 18:29 UTC blog.iea.org.uk [Source type: Original source]

^ Mainly items which have been introduced are as follows: number of days working within Panama , individual tax burden as per taxable income brackets, a new method for calculating income tax and social security threshold.

^ Capital-gains taxes are lower primarily in order to encourage long-term investment, and thereby make more capital available for American businesses, at least in theory.

[14]
Taxation as a percentage of GDP in 2003 was 56.1% in Denmark, 54.5% in France, 49.0% in the Euro area, 42.6% in the United Kingdom, 35.7% in the United States, 35.2% in The Republic of Ireland, and among all OECD members an average of 40.7%.[15][16]

Forms of taxation

In monetary economies prior to fiat banking, a critical form of taxation was seigniorage, the tax on the creation of money.
Other obsolete forms of taxation include:
  • Scutage - paid in lieu of military service; strictly speaking a commutation of a non-tax obligation rather than a tax as such, but functioning as a tax in practice
  • Tallage - a tax on feudal dependents
  • Tithe - a tax-like payment (one tenth of one's earnings or agricultural produce), paid to the Church (and thus too specific to be a tax in strict technical terms). This should not be confused with the modern practice of the same name which is normally voluntary.
  • Aids - During feudal times a feudal aid was a type of tax or due paid by a vassal to his lord.
  • Danegeld - medieval land tax originally raised to pay off raiding Danes and later used to fund military expenditures.
  • Carucage - tax which replaced the danegeld in England.
  • Tax Farming - the principle of assigning the responsibility for tax revenue collection to private citizens or groups.
.Some principalities taxed windows, doors, or cabinets to reduce consumption of imported glass and hardware.^ Research has shown that raising the taxes and price of alcohol leads to a decrease in consumption by youth, and reduces alcohol-related deaths and illness.
  • Alcohol Taxes | Jointogether.org 10 January 2010 6:35 UTC www.jointogether.org [Source type: General]

^ It is to be noted that some goods that are imported to meet the needs of some organs or agencies are either exempted from import tax or lower taxes are levied against them.
  • Taxation in Iran 24 January 2010 18:29 UTC www.parstimes.com [Source type: FILTERED WITH BAYES]

^ And the regressive nature of the VAT can be mitigated by exempting some necessities from taxation and by reducing other taxes that fall disproportionately on wage earners, such as the payroll tax.
  • Taxes - Salon.com 10 January 2010 6:35 UTC www.salon.com [Source type: Original source]

Armoires, hutches, and wardrobes were employed to evade taxes on doors and cabinets. .In extraordinary circumstances, taxes are also used to enforce public policy like congestion charge (to cut road traffic and encourage public transport) in London.^ Octroi (tax on entry of goods for use/consumption within areas of the Local Bodies), Tax on Markets and Tax/User Charges for utilities like water supply, drainage, etc.
  • TAXATION IN INDIA 24 January 2010 18:29 UTC siadipp.nic.in [Source type: FILTERED WITH BAYES]

^ Exploring Issues in the Development of Macroeconomic Models for Use in Tax Policy Analysis ” JCX-19-06.
  • FactCheck.org: Supply-side Spin 24 January 2010 18:29 UTC www.factcheck.org [Source type: Original source]

^ By Emily Maltby Whatever the outcome of the federal estate-tax debate, many family businesses likely will continue to use a variety of strategies to cope.
  • smSmallBiz.com | Small Business Taxes - Small Business Tax Deductions - Small Business Tax Tips 10 January 2010 6:35 UTC www.smsmallbiz.com [Source type: News]

In Tsarist Russia, taxes were clamped on beards. .Today, one of the most complicated taxation-systems worldwide is in Germany.^ The paper acknowledges that while the Australian managed funds industry has developed into one of the largest and most dynamic in the world, their taxation has been based on the laws for the taxation of trusts.
  • Allens Arthur Robinson: Publications: Tax publications listing 10 January 2010 6:35 UTC www.aar.com.au [Source type: FILTERED WITH BAYES]

^ One could argue that in a state which has representative institutions, while compliance with taxation may require force or its threat, many if not most people comply voluntarily.
  • Is Taxation Theft? - Hit & Run : Reason Magazine 24 January 2010 18:29 UTC reason.com [Source type: Original source]

^ The Republic of Panama bases its income tax system on the territoriality principle, as opposed to worldwide taxation method used in most countries.

Three quarters of the world's taxation-literature refers to the German system. There are 118 laws, 185 forms, and 96,000 regulations, spending 3.7 billion to collect the income tax. .Today, governments of advanced economies of EU, North America, and others rely more on direct taxes, while those of developing economies of India, Africa, and others rely more on indirect taxes.^ Direct taxes - - Indirect taxes .
  • taxation -- Britannica Online Encyclopedia 24 January 2010 18:29 UTC www.britannica.com [Source type: Reference]

^ Classes of taxes - Direct and indirect taxes .
  • taxation -- Britannica Online Encyclopedia 24 January 2010 18:29 UTC www.britannica.com [Source type: Reference]

^ That is, when the government can use both direct and indirect taxes, what is the optimal mix of taxes?
  • Optimal Taxation: From The Encyclopedia of Taxation and Tax Policy 24 January 2010 18:29 UTC www.urban.org [Source type: Academic]

Tax rates

.Taxes are most often levied as a percentage, called the tax rate.^ WASHINGTON, D.C. - This report shows that it is America's small business owners who bear most of the burden of the 1993 tax rate increase.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Some have a single rate throughout the state though most permit local city and county additions to the base tax rate.

^ Real Estate Transfer Tax An excise tax is levied on transfers of real estate at the rate of $1 of each $500, or fraction thereof, of the consideration or value of the property conveyed.

.An important distinction when talking about tax rates is to distinguish between the marginal rate and the effective (average) rate.^ What's your marginal tax rate?
  • WSJ - Taxes & Personal Finance, Tax Law, & Income Tax Planning News - WSJ.com 19 September 2009 13:14 UTC online.wsj.com [Source type: News]

^ Tax rates should be distinguished from tax revenues.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ What's your average tax rate?
  • WSJ - Taxes & Personal Finance, Tax Law, & Income Tax Planning News - WSJ.com 19 September 2009 13:14 UTC online.wsj.com [Source type: News]

.The effective rate is the total tax paid divided by the total amount the tax is paid on, while the marginal rate is the rate paid on the next dollar of income earned.^ Tax Rate: 5% of taxable income .
  • Iowa Department of Revenue - Iowa Taxes 19 September 2009 13:14 UTC www.iowa.gov [Source type: FILTERED WITH BAYES]

^ The thing or amount to which a tax rate applies.
  • Economics A-Z | Economist.com 24 January 2010 18:29 UTC www.economist.com [Source type: FILTERED WITH BAYES]

^ Total tax paid in a period as a proportion of total INCOME in that period.
  • Economics A-Z | Economist.com 24 January 2010 18:29 UTC www.economist.com [Source type: FILTERED WITH BAYES]

.For example, if income is taxed on a formula of 5% from $0 up to $50,000, 10% from $50,000 to $100,000, and 15% over $100,000, a taxpayer with income of $175,000 would pay a total of $18,750 in taxes.^ Residents pay personal income tax.

^ Taxpayers in the 10% or 15% bracket pay 0% percent in 2008.
  • Bloomberg.com: Calculators 19 September 2009 13:14 UTC www.bloomberg.com [Source type: General]

^ In an angry response to the low take-up by offshore account holders of the UK's latest tax amnesty, which drew a response from only 10,000 people, Treasury Minister Stephen Timms said that the government would now look to 'close down offshore tax evasion for good'.
  • Tax-news.com News Headlines 10 January 2010 6:35 UTC tax-news.com [Source type: News]

Tax calculation
(0.05*50,000) + (0.10*50,000) + (0.15*75,000) = 18,750
The "effective rate" would be 10.7%:
18,750/175,000 = 0.107
The "marginal rate" would be 15%.

Economics of taxation

.In economic terms, taxation transfers wealth from households or businesses to the government of a nation.^ Future of nations; prosperity, how it must come, economic facts for business men, by Roger W. Babson.

^ The income tax fundamentally changed this relationship, giving the government the right and the need to know about all manner of an individual or business' economic life.
  • U.S. Treasury - Fact Sheet on the History of the U.S. Tax System 10 January 2010 6:35 UTC www.ustreas.gov [Source type: FILTERED WITH BAYES]

^ CONCEPTS OF TAXATION Chapter 16 ECONOMICS: its concepts and principles By: BKG Gabay RM Remotin, Jr. EAM Uy Definition of Terms TAXATION is defined in many ways.
  • Concepts of Taxation 24 January 2010 18:29 UTC www.slideshare.net [Source type: FILTERED WITH BAYES]

.The side-effects of taxation and theories about how best to tax are an important subject in microeconomics.^ As a proxy for taxing ability, the government taxes income but must recognize that the income tax gives people incentives to change how hard they work to escape taxation.
  • Optimal Taxation: From The Encyclopedia of Taxation and Tax Policy 24 January 2010 18:29 UTC www.urban.org [Source type: Academic]

^ Most economists agree that the best tax is one that has as little impact as possible on peoples decisions about whether to undertake a productive economic activity.
  • Economics A-Z | Economist.com 24 January 2010 18:29 UTC www.economist.com [Source type: FILTERED WITH BAYES]

^ Tags: bank , account , tax , man , isle , taxation How to Have a Limited Liability Company Taxed as a Corporation .
  • Tag: Taxation - Explore content tagged Taxation on eHow.com 24 January 2010 18:29 UTC www.ehow.com [Source type: General]

.Taxation is almost never a simple transfer of wealth.^ That taxation — foremost and above all — is and must be understood as a means for the destruction of property and wealth-formation follows from a simple logical analysis of the meaning of taxation.
  • The Economics of Taxation - Hans-Hermann Hoppe - Mises Institute 24 January 2010 18:29 UTC mises.org [Source type: FILTERED WITH BAYES]

Economic theories of taxation approach the question of how to minimize the loss of economic welfare through taxation and also discuss how a nation can perform redistribution of wealth in the most efficient manner.

Deadweight costs of taxation

For goods supplied in a perfectly competitive market, tax reduces economic efficiency, by introducing a deadweight loss. In a perfect market, the price of a particular economic good adjusts to make sure that all trades which benefit both the buyer and the seller of a good occur. .After introducing a tax, the price received by the seller is less than the cost to the buyer.^ Urban Facts: Billings taxpayers with adjusted gross incomes of less than $30,000 can exclude up to $3,600 of their pension income from state taxes.
  • top-ten-tax-friendly-cities.html: Personal Finance News from Yahoo! Finance 19 September 2009 13:14 UTC finance.yahoo.com [Source type: News]

^ While it might be politically unpopular, he says it is well worth considering because it helps generate public revenues that can be used to offset economically harmful taxes, and it is less susceptible than cap-and-trade to economically disruptive price volatility.
  • Taxes - Brookings Institution 10 January 2010 6:35 UTC www.brookings.edu [Source type: FILTERED WITH BAYES]

^ You need to sell in order to get the capital loss or losses, defined as selling an investment at less than the price you bought it for or its adjusted basis.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.This means that fewer trades occur and that the individuals or businesses involved gain less from participating in the market.^ A business that for the previous tax year had either revenues of $1,000,000 or less or 30 or fewer full-time workers may take advantage of this credit.
  • ADA Tax Incentives Packet 10 January 2010 6:35 UTC www.ada.gov [Source type: FILTERED WITH BAYES]

^ Filing business losses will generally mean more paperwork and a more alert IRS individual on your case.
  • Tax Relief and Tax Debt Help 10 January 2010 6:35 UTC www.taxrelief.net [Source type: General]

^ Net capital gains from the sale of capital asset held by an individual are fully taxable if the capital asset was held for 12 months or less, and 50% taxable if it was held for more than 12 months.
  • Taxation 24 January 2010 18:29 UTC www.us-asean.org [Source type: FILTERED WITH BAYES]

This destroys value, and is known as the 'deadweight cost of taxation'.
The deadweight cost is dependent on the elasticity of supply and demand for a good.
Most taxes—including income tax and sales tax—can have significant deadweight costs. The only way to completely avoid deadweight costs in an economy which is generally competitive is to find taxes which do not change economic incentives, such as the land value tax,[17] where the tax is on a good in completely inelastic supply, a lump sum tax such as a poll tax which is paid by all adults regardless of their choices, or a windfall profits tax which is entirely unanticipated and so cannot affect decisions.

Double dividend taxes

.In some cases where the economy is not perfectly competitive, the existence of a tax can increase economic efficiency.^ Economics and tax policy / by Karl E. Case.

^ Contracting in Germany I am about to start a new contract and I would like some advice regarding the most tax efficient method of invoicing / payment.
  • Contractor Taxation | Contract Everywhere! 24 January 2010 18:29 UTC contractortaxation.com [Source type: News]

^ In today's global economy, effective tax advice and planning can give your business a competitive advantage.
  • KPMG in Canada | Tax 10 January 2010 6:35 UTC www.kpmg.ca [Source type: News]

If there is a negative externality associated with a good, meaning that it has negative effects not felt by the consumer, then the free market will trade too much of that good. .By putting a tax on the good, the government can increase overall welfare as well as raising revenue in taxation.^ Overall it was a good tax experience.

^ For governments, the tax system is a method of raising revenues.
  • The Tax System of the United States 16 September 2009 8:20 UTC revolution.allbest.ru [Source type: Original source]

^ Tax reform was seen as necessary for the expansion of the country's tax base thereby increasing revenue and permitting expansion of infrastructure spending and national savings.
  • Taxation 24 January 2010 18:29 UTC www.us-asean.org [Source type: FILTERED WITH BAYES]

This is known as a 'double dividend'.
.There are a wide range of goods where there is, or is claimed to be, a negative externality.^ Customs duties are charged on a wide range of imported goods.

Polluting fuels (like petrol), goods which incur public healthcare costs (such as alcohol or tobacco), and charges for existing 'free' public goods (like congestion charging) all offer the possibility of a double dividend. This type of tax is a Pigovian tax, sometimes colloquially known as a 'sin tax'. It is worthwhile noting that taxation is not necessarily the only, or the best, method of dealing with negative externalities.

Transparency and simplicity

Another concern is that the complicated tax codes of developed economies offer perverse economic incentives. The more details of tax policy there are, the more opportunities for legal tax avoidance and illegal tax evasion; these not only result in lost revenue, but involve additional deadweight costs: for instance, payments made for tax advice are essentially deadweight costs because they add no wealth to the economy. Perverse incentives also occur because of non-taxable 'hidden' transactions; for instance, a sale from one company to another might be liable for sales tax, but if the same goods were shipped from one branch of a corporation to another, no tax would be payable.
.To address these issues, economists often suggest simple and transparent tax structures which avoid providing loopholes.^ It is very important that you provide us with an accurate email address on your 'contract' and that you let us know if you change email addresses during the tax season.

^ A serial publication that addresses two topics in each issue: "Common Questions" answers questions about ADA requirements; "Design / Details" provides information and illustrations of particular design requirements.
  • ADA Tax Incentives Packet 10 January 2010 6:35 UTC www.ada.gov [Source type: FILTERED WITH BAYES]

^ This is: if these distributive shares are sources of public revenue, what then are taxes which so many economists and most law makers constantly, and we believe erronously, refer to as sources?

Sales tax, for instance, can be replaced with a value added tax which disregards intermediate transactions.

Tax incidence

.Economic theory suggests that the economic effect of tax does not necessarily fall at the point where it is legally levied.^ Which necessarily means that whatever effects today's tax rates have, they're even more minor."

^ Each $1 of marginal tax rate cuts would save the private economy at least $1.25 as deadweight losses fall and economic efficiency increases.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ The essential idea was that taxes have their first and primary effect on the economic incentives facing individuals and businesses.
  • U.S. Treasury - Fact Sheet on the History of the U.S. Tax System 10 January 2010 6:35 UTC www.ustreas.gov [Source type: FILTERED WITH BAYES]

.For instance, a tax on employment paid by employers will impact on the employee, at least in the long run.^ Half of this tax is deducted from an employee’s paycheck while the employer is responsible for matching this contribution.
  • Taxation in the United States - Encyclopedia of Earth 24 January 2010 18:29 UTC www.eoearth.org [Source type: FILTERED WITH BAYES]

^ Description: Every employer who maintains an office or transacts business in Iowa and who is required to withhold federal income tax on any compensation paid to employees for services performed in Iowa is required to withhold Iowa individual income tax from that compensation.
  • Iowa Department of Revenue - Iowa Taxes 19 September 2009 13:14 UTC www.iowa.gov [Source type: FILTERED WITH BAYES]

^ Regardless of the reason, federal law requires employment tax withholding and payment by employers.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

.The greatest share of the tax burden tends to fall on the most inelastic factor involved - the part of the transaction which is affected least by a change in price.^ The tax has nothing to do with such price changes.
  • The Economics of Taxation - Hans-Hermann Hoppe - Mises Institute 24 January 2010 18:29 UTC mises.org [Source type: FILTERED WITH BAYES]

^ This, in turn, led to an extraordinary increase in the aggregate tax burden, with Federal taxes as a share of GDP reaching a postwar high of 20.8 percent in 2000.
  • U.S. Treasury - Fact Sheet on the History of the U.S. Tax System 10 January 2010 6:35 UTC www.ustreas.gov [Source type: FILTERED WITH BAYES]

^ Unfortunately, statistics portraying tax policy changes as skewed often are released without disclosing the share of taxes actually paid by various income groups.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

.So, for instance, a tax on wages in a town will (at least in the long run) affect property-owners in that area.^ Several things can affect your property taxes, such as income and expense statements, market capitalization rates, replacement costs, costs of environmental cleanup and more.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ Capital-gains taxes are lower primarily in order to encourage long-term investment, and thereby make more capital available for American businesses, at least in theory.

^ Property tax deadline nears in Bradley – Local property owners have until Saturday to make their tax payments without a penalty.
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

Costs of compliance

.Although governments must spend money on tax collection activities, some of the costs, particularly for keeping records and filling out forms, are borne by businesses and by private individuals.^ More tax money results in more government.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ We must have this form in order to file your tax return with the U.S. government.

^ Expenses such as tuition and other costs for books and housing may trigger some tax credits that most students should utilize.
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

.These are collectively called costs of compliance.^ On top of that the tenant assosciation or condo management service may face reclamation and service costs in order to collect on these bad bills and debts.
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

.More complex tax systems tend to have higher costs of compliance.^ Several things can affect your property taxes, such as income and expense statements, market capitalization rates, replacement costs, costs of environmental cleanup and more.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ Even very complex tax returns can be handled with ease and at no extra cost.
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

^ To achieve the same compliance rate, the IRS would have to hire more agents, conduct more audits and investigations, and bring more people to court over alleged tax evasion.

.This fact can be used as the basis for practical or moral arguments in favor of tax simplification (see, for example, FairTax), or tax elimination (in addition to moral arguments described above).^ Instead of redesigning or overhauling the AMT, I favor radical tax simplification.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Kinds of taxes

The Organisation for Economic Co-operation and Development (OECD) publishes perhaps the most comprehensive analysis of worldwide tax systems. In order to do this it has created a comprehensive categorisation of all taxes in all regimes which it covers:[18]

Ad valorem

.An ad valorem tax is one where the tax base is the value of a good, service, or property.^ The amount of tax paid is often based on the value of the property.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ These tax bases do not correspond closely to the value of a consumed good or service.

^ Ad valorem tax .
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

.Sales taxes, tariffs, property taxes, inheritance taxes, and value added taxes are different types of ad valorem tax.^ Tax Sale Properties Looking for tax sale properties?
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ Ad valorem tax is another commonly used term for property tax.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ These taxes are scholastically organized into classifications such as property, sales, motor fuels, excises, profits and the like.

.An ad valorem tax is typically imposed at the time of a transaction (sales tax or value added tax (VAT)) but it may be imposed on an annual basis (property tax) or in connection with another significant event (inheritance tax or tariffs).^ Ad valorem tax is another commonly used term for property tax.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ Ad valorem tax .
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ Tax Sale Properties Looking for tax sale properties?
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

.An alternative to ad valorem taxation is an excise tax, where the tax base is the quantity of something, regardless of its price.^ Ad valorem tax .
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ Bibliography ad valorem tax administration.

^ Examples are unremunerated reserve requirements and ad valorem taxes on the gross interest receipts of financial intermediaries.

.For example, in the United Kingdom, a tax is collected on the sale of alcoholic drinks that is calculated by volume and beverage type, rather than the price of the drink.^ By Conlin's logic, sales tax also is voluntary (you don't have to buy stuff), as are alcohol and tobacco taxes (you don't have to drink or smoke), air travel taxes (you don't have to fly), gas taxes (you don't have to drive), property taxes (you don't have to own a house), and income taxes (you don't have to make money).
  • Fundamental Tax Reform -- KEVIN CRAIG for Congress 24 January 2010 18:29 UTC kevincraig.us [Source type: Original source]

^ The federal government collects excise taxes from manufacturers and retailers for the production or sale of a surprising number of products including tires, telephone services, air travel, fossil fuels (including gasoline, diesel fuel, and aviation fuel), alcohol, tobacco, and firearms.
  • Taxation in the United States - Encyclopedia of Earth 24 January 2010 18:29 UTC www.eoearth.org [Source type: FILTERED WITH BAYES]

^ For example, taxes on cigarettes are widely viewed as regressive taxes because lower-income people spend a larger percentage of their incomes on tobacco than do higher-income people.
  • The Tax System of the United States 16 September 2009 8:20 UTC revolution.allbest.ru [Source type: Original source]

Capital gains tax

.A capital gains tax is the tax levied on the profit released upon the sale of a capital asset.^ Capital gains are not taxed.

^ The gain would not be subject to capital taxes.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ There is no tax on capital gains.

In many cases, the amount of a capital gain is treated as income and subject to the marginal rate of income tax. .However, in an inflationary environment, capital gains may be to some extent illusory: if prices in general have doubled in five years, then selling an asset for twice the price it was purchased for five years earlier represents no gain at all.^ There is no taxation of capital gains.

^ No taxation is applicable to capital gains.

^ There is no tax on capital gains.

Partly to compensate for such changes in the value of money over time, some jurisdictions, such as the United States, give a favorable capital gains tax rate based on the length of holding. .European jurisdictions have a similar rate reduction to nil on certain property transactions that qualify for the participation exemption.^ Marginal individual income tax rate reductions clearly stimulate aggregate consumption and labor force participation, but their stimulative effects on aggregate investment have been disputed.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Reductions in exemption levels meant that taxpayers with taxable incomes of only $500 faced a bottom tax rate of 23 percent, while taxpayers with incomes over $1 million faced a top rate of 94 percent.
  • U.S. Treasury - Fact Sheet on the History of the U.S. Tax System 10 January 2010 6:35 UTC www.ustreas.gov [Source type: FILTERED WITH BAYES]

^ Election to Claim the Qualified Investment Exemption from Property Tax In Lieu of Investment Tax Credit .
  • IRS Tax Forms - Federal Tax Forms - State Tax Forms - IRS Form 1040 - Free Tax Filing 10 January 2010 6:35 UTC www.esmarttax.com [Source type: Reference]

.In Canada, 50% of the gain is taxable income.^ A sale of these same shares by a Nonresident before obtaining U.S. income tax residency would result in no taxable gain.
  • United States Taxation of Foreign Investors 24 January 2010 18:29 UTC www.lehmantaxlaw.com [Source type: Original source]

.In India, Short Term Capital Gains Tax (arising before 1 year) is 10% flat rate of the gains and Long Term Capital Gains Tax is nil for stocks & mutual fund units held 1 year or more and 20% for any other assets held 3 years or more.^ Answer: Yes, short-term gains are taxed at your ordinary income tax rate.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ For instance, the long-term capital gains tax rate for folks in the 10% and 15% tax brackets is zero.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Still, the capital gains from the sale of stocks or mutual funds are added to your income.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.If such a tax is levied on inherited property, it can act as a de facto probate or inheritance tax.^ The State does not levy a tax on such property.

^ Several things can affect your property taxes, such as income and expense statements, market capitalization rates, replacement costs, costs of environmental cleanup and more.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ These taxes are scholastically organized into classifications such as property, sales, motor fuels, excises, profits and the like.

Consumption tax

.A consumption tax is a tax on non-investment spending, and can be implemented by means of a sales tax or by modifying an income tax to allow for unlimited deductions for investment or savings.^ Financial institutions which have elected S corporation status are still subject to the franchise tax, and the shareholders are allowed a tax credit against their individual income tax for their share of the franchise tax paid.
  • Iowa Department of Revenue - Iowa Taxes 19 September 2009 13:14 UTC www.iowa.gov [Source type: FILTERED WITH BAYES]

^ It achieved some simplifications for individuals through the elimination of such things as income averaging, the deduction for consumer interest, and the deduction for state and local sales taxes.
  • U.S. Treasury - Fact Sheet on the History of the U.S. Tax System 10 January 2010 6:35 UTC www.ustreas.gov [Source type: FILTERED WITH BAYES]

^ This is a citizen-initiated plan designed to stop punishing productivity (such as when a business hires new workers, or adds new equipment, or when we, as individuals, work longer hours) and rewards savings (by not taxing income on savings and investments) .

Corporation tax

Corporate tax refers to a direct tax levied by various jurisdictions on the profits made by companies or associations and often includes capital gains of a company. Earnings are generally considered gross revenue less expenses. .Corporate expenses that relate to capital expenditures are usually deducted in full (for example, trucks are fully deductible in the Canadian tax system, while a corporate sports car is only partly deductible).^ Corporate tax system .

^ Several things can affect your property taxes, such as income and expense statements, market capitalization rates, replacement costs, costs of environmental cleanup and more.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ With respect to regulated investment companies, the realization point that triggers a capital gains tax liability should be moved from the corporate level down to the individual shareholder level.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

.They are often deducted over the useful life of the asset purchase.^ Such assets are only acquired and held because they can purchase other valuable assets at future dates.
  • The Economics of Taxation - Hans-Hermann Hoppe - Mises Institute 24 January 2010 18:29 UTC mises.org [Source type: FILTERED WITH BAYES]

^ Both because these taxes and quasi taxes are opaque and because they can be quite large, it is often useful to calculate their impact on bank intermediation spreads.

^ Interest on money borrowed to acquire the assets is allowed as a tax deduction, provided it can be shown that the assets are used in the .

.Notably, accounting rules about deductible expenses and tax rules about deductible expense will differ at times, giving rise to book-tax differences.^ Expenses such as tuition and other costs for books and housing may trigger some tax credits that most students should utilize.
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

^ The income tax fundamentally changed this relationship, giving the government the right and the need to know about all manner of an individual or business' economic life.
  • U.S. Treasury - Fact Sheet on the History of the U.S. Tax System 10 January 2010 6:35 UTC www.ustreas.gov [Source type: FILTERED WITH BAYES]

^ Unlike a 529 plan, the account can be tapped tax-free to cover qualified education expenses at primary and secondary schools as well college.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

If the book-tax difference is carried over more than a year, it is referred to as a temporary difference, which then creates deferred tax assets and liabilities for the corporation, which are carried on the balance sheet.
See also: Excess profits tax, Windfall profits tax

Currency transaction tax

A currency transaction tax is a tax placed on a specific type of currency transaction for a specific purpose. This term has been most commonly associated with the financial sector, as opposed to consumption taxes paid by consumers. There are several types of currency transaction taxes that have been proposed, the most prominent being the Tobin tax and the Spahn tax. Most remain unimplemented concepts.

Environment Affecting Tax

This includes natural resources consumption tax, GreenHouse gas tax (Carbon tax), "sulfuric tax", and others. The stated purpose is to reduce the environmental impact by repricing.

Excises

.Unlike an ad valorem, an excise is not a function of the value of the product being taxed.^ Ad valorem tax .
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ Bibliography ad valorem tax administration.

^ Filed under: Value-added tax -- Bibliography .

.Excise taxes are based on the quantity, not the value, of product purchased.^ Property taxes are based on the location and the market value of the property.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ The amount of tax paid is often based on the value of the property.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

^ Ad valorem tax is based on property ownership and is determined by the assessed value of real estate or personal property.
  • Property Tax Information | Property Tax Software | Business.com 10 January 2010 6:35 UTC www.business.com [Source type: News]

.For example, in the United States, the Federal government imposes an excise tax of 18.4 cents per U.S. gallon (4.86¢/L) of gasoline, while state governments levy an additional 8 to 28 cents per U.S. gallon.^ This is in addition to the state tax rate of 5%.
  • Iowa Department of Revenue - Iowa Taxes 19 September 2009 13:14 UTC www.iowa.gov [Source type: FILTERED WITH BAYES]

^ More than a survey, it shows how federal and state governments used the elastic nature of income taxes to meet a variety of economic and social needs, which led to an "aggregation of examples of possible income tax methods rather than the development of an American income tax policy....

^ Her last years' earnings were $1646, no federal or state taxes withheld, just social security and medicare.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Excises on particular commodities are frequently hypothecated. For example, a fuel excise (use tax) is often used to pay for public transportation, especially roads and bridges and for the protection of the environment. .A special form of hypothecation arises where an excise is used to compensate a party to a transaction for alleged uncontrollable abuse; for example, a blank media tax is a tax on recordable media such as CD-Rs, whose proceeds are typically allocated to copyright holders.^ The money that goes into an escrow account is used to pay for expenses such as real estate taxes, property taxes, and homeowners insurance.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.Critics charge that such taxes blindly tax those who make legitimate and illegitimate usages of the products; for instance, a person or corporation using CD-R's for data archival should not have to subsidize the producers of popular music.^ The IRS says interest rates for the first quarter of 2010 will remain the same as the final quarter of 2009–important news for those who owe back taxes.
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

^ Consequently, many who broke various laws associated with illegal activities and were able to escape justice for these crimes were incarcerated on tax evasion charges.
  • U.S. Treasury - Fact Sheet on the History of the U.S. Tax System 10 January 2010 6:35 UTC www.ustreas.gov [Source type: FILTERED WITH BAYES]

^ Expenses such as tuition and other costs for books and housing may trigger some tax credits that most students should utilize.
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

Excises (or exemptions from them) are also used to modify consumption patterns (social engineering). For example, a high excise is used to discourage alcohol consumption, relative to other goods. .This may be combined with hypothecation if the proceeds are then used to pay for the costs of treating illness caused by alcohol abuse.^ May 21, 2009 News Analysis: Pop Goes the Soda Tax So lawmakers are thinking about using a soda tax to help pay for healthcare reform.
  • Tax History Project: Article Archive 10 January 2010 6:35 UTC taxhistory.tax.org [Source type: News]

Similar taxes may exist on tobacco, pornography, etc., and they may be collectively referred to as "sin taxes". A carbon tax is a tax on the consumption of carbon-based non-renewable fuels, such as petrol, diesel-fuel, jet fuels, and natural gas. The object is to reduce the release of carbon into the atmosphere. In the United Kingdom, vehicle excise duty is an annual tax on vehicle ownership.

Expatriation Tax

An Expatriation Tax is a tax on some who renounce their citizenship of some governments. The most significant Expatriation Tax is one found in the USA.
The American Jobs Creation act of 2004, passed by the Republican-controlled government, amended section 877 of the Internal Revenue Code of the USA. Under the new law, any individual who has a net worth of $2 million or an average income-tax liability of $127,000 who renounces his or her citizenship and leaves the country is automatically assumed to have done so for tax avoidance reasons and is victim to severe tax laws.

Financial transaction tax

A financial transaction tax is a tax placed on a specific type (or types) of financial transaction for a specific purpose (or purposes). This term has been most commonly associated with the financial sector, as opposed to consumption taxes paid by consumers.
There are several types of financial transaction taxes. Each has its own purpose. Some have already been implemented, and some remain unimplemented concepts. Concepts are found in various organizations and regions around the world. Some are domestic and meant to be used within one nation; whereas some are multinational.

Income tax

An income tax is a tax levied on the financial income of persons, corporations, or other legal entities. Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax, or corporation tax. .Individual income taxes often tax the total income of the individual (with some deductions permitted), while corporate income taxes often tax net income (the difference between gross receipts, expenses, and additional write-offs).^ Exclusions from gross income, receipts or proceeds .

^ Financial institutions which have elected S corporation status are still subject to the franchise tax, and the shareholders are allowed a tax credit against their individual income tax for their share of the franchise tax paid.
  • Iowa Department of Revenue - Iowa Taxes 19 September 2009 13:14 UTC www.iowa.gov [Source type: FILTERED WITH BAYES]

^ Filed in Government Grants , Income , Tax Forms , Tax Refund , Tax Returns , FAQs What happens if you file your tax return and later realize that you left off some income?
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

.The "tax net" refers to the types of payment that are taxed, which included personal earnings (wages), capital gains, and business income.^ EARNED INCOME TAX CREDIT INFORMATION ACT ..........
  • CALIFORNIA REVENUE AND TAXATION CODE 24 January 2010 18:29 UTC www.leginfo.ca.gov [Source type: Academic]

^ Payment of Tax by All Persons .................
  • CALIFORNIA REVENUE AND TAXATION CODE 24 January 2010 18:29 UTC www.leginfo.ca.gov [Source type: Academic]

^ PERSONAL INCOME TAX CHAPTER 1.
  • CALIFORNIA REVENUE AND TAXATION CODE 24 January 2010 18:29 UTC www.leginfo.ca.gov [Source type: Academic]

.The rates for different types of income may vary and some may not be taxed at all.^ See all tax types .
  • Current year tax forms, instructions and worksheets 10 January 2010 6:35 UTC www.taxes.state.mn.us [Source type: Reference]

^ Tax Rates The tax rates vary from county to county and from town to town.

^ Filed in Government Grants , Income , Tax Forms , Tax Refund , Tax Returns , FAQs What happens if you file your tax return and later realize that you left off some income?
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

.Capital gains may be taxed when realized (e.g.^ Real property gains tax .
  • Vertical Limit Consulting - Malaysian Tax System 16 September 2009 8:20 UTC www.vlc.com.my [Source type: FILTERED WITH BAYES]

^ Real property gains tax (RPGT) is a form of capital gains tax.
  • Vertical Limit Consulting - Malaysian Tax System 16 September 2009 8:20 UTC www.vlc.com.my [Source type: FILTERED WITH BAYES]

^ The gain would not be subject to capital taxes.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

when shares are sold) or when incurred (e.g. when shares appreciate in value). .Business income may only be taxed if it is significant or based on the manner in which it is paid.^ Indirect taxes can be a significant business cost.

^ Unfortunately, statistics portraying tax policy changes as skewed often are released without disclosing the share of taxes actually paid by various income groups.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ What is not generally revealed is that taxing the income and payrolls of business, at all , is a hidden tax to you and me in higher prices!

.Some types of income, such as interest on bank savings, may be considered as personal earnings (similar to wages) or as a realized property gain (similar to selling shares).^ Real property gains tax .
  • Vertical Limit Consulting - Malaysian Tax System 16 September 2009 8:20 UTC www.vlc.com.my [Source type: FILTERED WITH BAYES]

^ Transition from personal property to real property roll .

^ Filed in Government Grants , Income , Tax Forms , Tax Refund , Tax Returns , FAQs What happens if you file your tax return and later realize that you left off some income?
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

.In some tax systems, personal earnings may be strictly defined where labor, skill, or investment is required (e.g.^ Expenses such as tuition and other costs for books and housing may trigger some tax credits that most students should utilize.
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

^ Over 700 questions with evidence proving irrefutably that there is no requirement to pay or file income taxes for most private persons.
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

^ As all are born the subjects of some state or other, we may be said to have been all born consenting to some system of government.
  • Taxation No Tyranny - Samuel Johnson 24 January 2010 18:29 UTC www.samueljohnson.com [Source type: Original source]

wages); in others, they may be defined broadly to include windfalls (e.g. gambling wins).
Personal income tax is often collected on a pay-as-you-earn basis, with small corrections made soon after the end of the tax year. These corrections take one of two forms: payments to the government, for taxpayers who have not paid enough during the tax year; and tax refunds from the government for those who have overpaid. .Income tax systems will often have deductions available that lessen the total tax liability by reducing total taxable income.^ Lessening your chance of being audited by the Internal Revenue Service (IRS) depends on a number of factors, including the tax deductions you report.
  • Taxation Attorney, Lawyer, Attorneys, Lawyers and Legal Research Information - Lawyers.com 24 January 2010 18:29 UTC taxation.lawyers.com [Source type: Original source]

^ This view is inconsistent with the proposition that income belongs to the taxpayers and that tax liability is determined through the democratic process, not through arbitrary, bureaucratic assumptions.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Unfortunately, statistics portraying tax policy changes as skewed often are released without disclosing the share of taxes actually paid by various income groups.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

.They may allow losses from one type of income to be counted against another.^ Losses of a branch may be set off against total income.

^ For five of the following eight years, the investor may offset up to one-fifth of the incurred capital expenditure against future income.

^ Business losses can be set off against income from all sources in the current year.
  • Vertical Limit Consulting - Malaysian Tax System 16 September 2009 8:20 UTC www.vlc.com.my [Source type: FILTERED WITH BAYES]

.For example, a loss on the stock market may be deducted against taxes paid on wages.^ Deduction for foreign taxes paid.

^ Where the foreign taxes paid exceed the credit granted by Montserat, the excess foreign taxes are deductible for Montserrat tax purposes.

^ The taxpayer may divide a credit between the taxes against which it is allowed.

.Other tax systems may isolate the loss, such that business losses can only be deducted against business tax by carrying forward the loss to later tax years.^ Losses incurred during the tax holidays may not carried forward against future profit.

^ Can I claim a loss on this year's taxes?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Expenses such as tuition and other costs for books and housing may trigger some tax credits that most students should utilize.
  • Tax Preparation and E-File Tax Extension Forms Online - U.S. TaxCenter 10 January 2010 6:35 UTC www.banks.com [Source type: General]

Inflation tax

.An inflation tax is the economic disadvantage suffered by holders of cash and cash equivalents in one denomination of currency due to the effects of Expansionary monetary policy, which acts as a hidden tax that subtracts value from those assets.^ Your money is protected from inflation and it compounds tax deferred until you cash it in.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ In a sense, an I-bond acts like an IRA. The money you put into an I-bond compounds tax deferred until you cash it in.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.Many economists hold that the inflation tax affects the lower and middle classes more than the rich, as they hold a larger fraction of their income in cash, they are much less likely to receive the newly created monies before the market has adjusted with inflated prices, and more often have fixed incomes, wages or pensions.^ You need to sell in order to get the capital loss or losses, defined as selling an investment at less than the price you bought it for or its adjusted basis.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Do they have to file an income tax return for 2007 in order to receive the tax rebate?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ The monthly pension benefit you'll receive is considered taxable income.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Some argue that inflation is a regressive consumption tax. [19]
.There are systemic effects of an expansionary monetary policy, which are also definitively taxing, imposing a financial charge on some as a result of the policy.^ I've looked forward to being "mortgage-free" for some time, but several of our friends suggest losing the tax advantage is a bad financial move.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Because the effects of monetary expansion or counterfeiting are never uniform over an entire economy, the policy influences capital transfers in the market, creating economic bubbles where the new monies are first introduced. Economic bubbles increase market instability, and therefore increases investment risk, creating the conditions common to a recession. This particular tax can be understood to be levied on future generations that would have benefited from economic growth, and it has a 100% transfer cost (so long as people are not acting against their interests, increased uncertainty benefits no-one).

Inheritance tax

.Inheritance tax, estate tax, and death tax or duty are the names given to various taxes which arise on the death of an individual.^ The various taxing acts are summarized and, after the reign of William III, are divided into the categories of customs, excise and inland duties.

^ There is a refundable Earned Income Tax Credit available to individuals but not to estates or trusts.

^ In 1935, for instance, he proposed a new federal inheritance tax to backstop the existing estate levy.
  • Tax History Project: Article Archive 10 January 2010 6:35 UTC taxhistory.tax.org [Source type: News]

.In United States tax law, there is a distinction between an estate tax and an inheritance tax: the former taxes the personal representatives of the deceased, while the latter taxes the beneficiaries of the estate.^ Filed under: Inheritance and transfer tax -- Law and legislation -- United States -- Bibliography .

^ He's a confused idiot not only about the difference between the terms voluntary and free will but about the actual tax law.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ Over 700 questions with evidence proving irrefutably that there is no requirement to pay or file income taxes for most private persons.
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

.However, this distinction does not apply in other jurisdictions; for example, if using this terminology UK inheritance tax would be an estate tax.^ Taxpayers who may be affected by the AMT must recalculate their taxes using rules about income and deductions different from those that apply to regular income tax.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Under current law, the damaging effects of the estate tax are reduced, and the tax would be repealed in 2010, only to come back to 2001 levels in the next year.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Useful to silence arguments of people who say the government would go bankrupt if we end income taxes.
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

See also: Allodial, Pigovian tax, Estate tax (United States), Inheritance Tax (United Kingdom).

Poll tax

.A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual.^ With respect to regulated investment companies, the realization point that triggers a capital gains tax liability should be moved from the corporate level down to the individual shareholder level.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ The amount that is set off against the taxable profits is available for distribution as tax exempt dividends.
  • Vertical Limit Consulting - Malaysian Tax System 16 September 2009 8:20 UTC www.vlc.com.my [Source type: FILTERED WITH BAYES]

^ Approving the tax exemption certificate and authorizing Heffernan to sign on behalf of the city for $4.8 million in general obligation capital loan notes and levying a tax to pay the notes.
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

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.^ The add back provision is effective for taxable years beginning on or after January 1, 2009; [16] however, it is reduced by one-half for the 2009 and 2010 tax years.
  • Taxation (2009 Annual Survey of Virginia Law) – University of Richmond Law Review 24 January 2010 18:29 UTC lawreview.richmond.edu [Source type: FILTERED WITH BAYES]

.30:11-16) was a form of poll tax.^ Tax Deposition CD, Form #11.301 .
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

.Poll taxes are administratively cheap because they are easy to compute and collect and difficult to cheat.^ (Fortunately, they make that easy and cheap, as long as all employees have their paychecks direct deposited in Bank of America… THE INTERNET GUIDE TO IRS SCHEDULE E .
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ The IRS has sole authority not only to collect federal taxes but to decide how much money they are willing to accept to settle tax debt.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ They say, and say willingly, that they cannot conveniently be represented; because their inference is, that they cannot be taxed.
  • Taxation No Tyranny - Samuel Johnson 24 January 2010 18:29 UTC www.samueljohnson.com [Source type: Original source]

.Economists have considered poll taxes economically efficient because people are presumed to be in fixed supply.^ But nonetheless, a lot of people seem to have gotten the misimpression that there are no serious intellectual, economic arguments in favor of tax cuts.

^ Most people don't need to be concerned about it because the amount exempted from the tax is so large.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ The problem with your argument is that most people consider the exercise of their franchise to be a voluntary contract that empowers the Legislature to levy taxes.
  • Is Taxation Theft? - Hit & Run : Reason Magazine 24 January 2010 18:29 UTC reason.com [Source type: Original source]

.However, poll taxes are very unpopular because poorer people pay a higher proportion of their income than richer people.^ Proportional income tax relief to those paying income taxes is fair and equitable.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Rich people don't pay taxes, people who earn income do.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ Most people who pay federal income tax are not liable under the tax laws so technically they "volunteer".
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

In addition, the supply of people is in fact not fixed over time: on average, couples will choose to have fewer children if a poll tax is imposed.[20] The introduction of a poll tax in medieval England was the primary cause of the 1381 Peasants' Revolt.Scotland was the first to be used to test the new poll tax in 1989 with England and Wales in 1990. The change from a progressive local taxation based on property values to a single-rate form of taxation regardless of ability to pay (the Community Charge, but more popularly referred to as the Poll Tax), led to widespread refusal to pay and to incidents of civil unrest, known colloquially as the 'Poll Tax riots'.

Property tax

A property tax is a tax put on property by reason of its ownership. Property tax can be defined as "generally, tax imposed by municipalities upon owners of property within their jurisdiction based on the value of such property."[21] .There are three species of property: land, improvements to land (immovable man-made things, e.g.^ But at least they can agree that there should be a border, and that the no man's land of the subsidy sector needs to be erased from the map.
  • Taxes - Salon.com 10 January 2010 6:35 UTC www.salon.com [Source type: Original source]

^ If so, there is nothing special about property in that government can revoke its protection at a will.
  • Is Taxation Theft? - Hit & Run : Reason Magazine 24 January 2010 18:29 UTC reason.com [Source type: Original source]

buildings) and personal property (movable things). .Real estate or realty is the combination of land and improvements to land.^ Escalating energy costs and increasing property taxes, combined with rising real estate values, are creating cash-poor, house-rich retirees.
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

.Property taxes are usually charged on a recurrent basis (e.g., yearly).^ We would be responsible for the yearly property taxes.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ This change was necessary to better coordinate the property tax files and the administration of the city’s tax freeze and state tax relief program on a basis consistent … .
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

.A common type of property tax is an annual charge on the ownership of real estate, where the tax base is the estimated value of the property.^ But I wouldn't do anything without good evidence that you and your brother are among the estimated 0.2% of all estates this year that might be subject to the tax.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ The money that goes into an escrow account is used to pay for expenses such as real estate taxes, property taxes, and homeowners insurance.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Also, who decides, upon my parents' deaths, the value of the property in order to calculate the amount of inheritance tax?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.For a period of over 150 years from 1695 a window tax was levied in England, with the result that one can still see listed buildings with windows bricked up in order to save their owners money.^ In terms of taking the gain and saving for your 8 year olds college education, I'd vote for putting at least some money into a 529 college savings plan.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ But you get the money this year (most likely late Spring/early summer) after filing your 2007 tax return.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ I know I can easily save for this tax payment throughout the year, and collect interest for myself.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

A similar tax on hearths existed in France and elsewhere, with similar results. The two most common type of event driven property taxes are stamp duty, charged upon change of ownership, and inheritance tax, which is imposed in many countries on the estates of the deceased.
.In contrast with a tax on real estate (land and buildings), a land value tax is levied only on the unimproved value of the land ("land" in this instance may mean either the economic term, i.e., all natural resources, or the natural resources associated with specific areas of the Earth's surface: "lots" or "land parcels").^ For instance, you may have some long-term capital losses to offset the gain.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ But I wouldn't do anything without good evidence that you and your brother are among the estimated 0.2% of all estates this year that might be subject to the tax.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ The money that goes into an escrow account is used to pay for expenses such as real estate taxes, property taxes, and homeowners insurance.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Proponents of land value tax argue that it is economically justified, as it will not deter production, distort market mechanisms or otherwise create deadweight losses the way other taxes do.[22]
When real estate is held by a higher government unit or some other entity not subject to taxation by the local government, the taxing authority may receive a payment in lieu of taxes to compensate it for some or all of the foregone tax revenue.
In many jurisdictions (including many American states), there is a general tax levied periodically on residents who own personal property (personalty) within the jurisdiction. Vehicle and boat registration fees are subsets of this kind of tax. .The tax is often designed with blanket coverage and large exceptions for things like food and clothing.^ Large estate tax bills divert resources from investment and employment and often force families to develop environmentally sensitive land.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ There is an exception to this rule - the earned income tax credit which operates like a rebate."
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Household goods are often exempt when kept or used within the household.[23] Any otherwise non-exempt object can lose its exemption if regularly kept outside the household.[23] .Thus, tax collectors often monitor newspaper articles for stories about wealthy people who have lent art to museums for public display, because the artworks have then become subject to personal property tax.^ Most people who worry about the estate tax aren't subject to it.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ For better or worse, tens of thousands of people across the fifty states owe their involvement in the Tax Movement to Phil and his wife who are both now in prison.
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

^ I am not fighting for the Bush tax cuts; I'm fighting the notion that people who are in favor of tax cuts are all a bunch of liars or loonie tunes.

[23] .If an artwork had to be sent to another state for some touch-ups, it may have become subject to personal property tax in that state as well.^ Personal property tax roll .

^ Estimate of personal property tax roll .

^ As all are born the subjects of some state or other, we may be said to have been all born consenting to some system of government.
  • Taxation No Tyranny - Samuel Johnson 24 January 2010 18:29 UTC www.samueljohnson.com [Source type: Original source]

[23]

Retirement tax

.Some countries with social security systems, which provide income to retired workers, fund those systems with specific dedicated taxes.^ Her last years' earnings were $1646, no federal or state taxes withheld, just social security and medicare.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Ownership of the means of production doesn't really model the same way as an income tax, and at any rate the Soviet government did not take 100% of any worker's output.

^ The system is basically a unitary one that provides for the aggregation of all income accruing in or derived from Montserrat or elsewhere.

These often differ from comprehensive income taxes in that they are levied only on specific sources of income, generally wages and salary (in which case they are called payroll taxes). .A further difference is that the total amount of the taxes paid by or on behalf of a worker is typically considered in the calculation of the retirement benefits to which that worker is entitled.^ Also, where a double tax treaty exists with a foreign country in which the taxes are payable, there are usually provisions for partial or total relief against Montserrat tax for any foreign taxes paid.

^ Both assume that reducing the amount going into your pre-tax retirement plan doesn't affect the company's contribution, which is incredibly valuable.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ A brand new car bought between Feb 16 and Dec 31 entitles you to make deductions from the sales tax or excise tax you paid for the vehicle.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

Examples of retirement taxes include the FICA tax, a payroll tax that is collected from employers and employees in the United States to fund the country's Social Security system; and the National Insurance Contributions (NICs) collected from employers and employees in the United Kingdom to fund the country's national insurance system.
.These taxes are sometimes regressive in their immediate effect.^ In all of these cases, the effect of higher taxes isn't just that I'm able to buy less stuff, it's that the incentives of the tax code more strongly distort my behavior.

.For example, in the United States, each worker, whatever his or her income, pays at the same rate up to a specified cap, but income over the cap is not taxed.^ To achieve the same compliance rate, the IRS would have to hire more agents, conduct more audits and investigations, and bring more people to court over alleged tax evasion.

^ You just pay Uncle Sam whatever you owe in taxes after the sale (and I'm assuming you'll own them for 5 years).
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Over 700 questions with evidence proving irrefutably that there is no requirement to pay or file income taxes for most private persons.
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

.A further regressive feature is that such taxes often exclude investment earnings and other forms of income that are more likely to be received by the wealthy.^ There is no property tax, income tax, corporate tax, sales tax, capital gains tax, inheritance tax, or any other kind of direct taxation in the Caymans.
  • Expat Focus - Cayman Islands - Taxation 24 January 2010 18:29 UTC www.expatfocus.com [Source type: News]

^ Large estate tax bills divert resources from investment and employment and often force families to develop environmentally sensitive land.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Unfortunately, statistics portraying tax policy changes as skewed often are released without disclosing the share of taxes actually paid by various income groups.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

.The regressive effect is somewhat offset, however, by the eventual benefit payments, which typically replace a higher percentage of a lower-paid worker's pre-retirement income.^ Essentially, the Montserrat relief is restricted to 50 percent of the lower of the Montserrat or foreign country income tax paid on the same income.

^ Low-wage workers, in particular, can expect to receive retirement benefits that exceed the amount of their payroll tax contributions.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Generally speaking, tax credits only offset tax balances due - meaning if you have low income and owe nothing in tax, you get no benefit from a credit.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Sales tax

.Sales taxes are levied when a commodity is sold to its final consumer.^ Those opposed to increasing sales and other taxes to solve the budget deficit say doing so during a recession will further strap consumers and business.
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

^ Payment of tax on property sold at judicial sale or by fiduciary .

^ For example, I may agree that some taxation is necessary, but disagree over the means of levying them: some economists might argue for a sales tax rather than income tax, for example.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

.Retail organizations contend that such taxes discourage retail sales.^ It's going to be such a relief to know that we have an organization of tax professionals to handle all of our taxes and tax questions, both our personal taxes as well as our business.

.The question of whether they are generally progressive or regressive is a subject of much current debate.^ Arkansas residents who have unpaid Internal Revenue or IRS tax debt may be able to settle their federal tax debt for much less than they currently owe.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ Opponents of tax cuts question whether they are compatible with a balanced budget.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

.People with higher incomes spend a lower proportion of them, so a flat-rate sales tax will tend to be regressive.^ When "income" is taxed at a higher rate, people do less of things that lead to "income," as that's defined by the government.

^ To achieve the same compliance rate, the IRS would have to hire more agents, conduct more audits and investigations, and bring more people to court over alleged tax evasion.

^ Myths and mistakes investors often make – Rather, the boost to household discretionary income from lower mortgage bills (as interest rates fall) and tax cuts or stimulus payments to households during recessions eventually offset the fear of unemployment for the bulk of people still employed.
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

.It is therefore common to exempt food, utilities and other necessities from sales taxes, since poor people spend a higher proportion of their incomes on these commodities, so such exemptions would make the tax more progressive.^ Would this gift become "income" and therefore be subject to taxes?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Tax exemption for sales of food; nonexempt sales .

^ There is no property tax, income tax, corporate tax, sales tax, capital gains tax, inheritance tax, or any other kind of direct taxation in the Caymans.
  • Expat Focus - Cayman Islands - Taxation 24 January 2010 18:29 UTC www.expatfocus.com [Source type: News]

This is the classic "You pay for what you spend" tax, as only those who spend money on non-exempt (i.e. luxury) items pay the tax.
.A small number of U.S. states rely entirely on sales taxes for state revenue, as those states do not levy a state income tax.^ There is no property tax, income tax, corporate tax, sales tax, capital gains tax, inheritance tax, or any other kind of direct taxation in the Caymans.
  • Expat Focus - Cayman Islands - Taxation 24 January 2010 18:29 UTC www.expatfocus.com [Source type: News]

^ Proportional income tax relief to those paying income taxes is fair and equitable.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ But the favorite tax target of most state revenue offices is Amazon.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

.Such states tend to have a moderate to large amount of tourism or inter-state travel that occurs within their borders, allowing the state to benefit from taxes from people the state would otherwise not tax.^ For better or worse, tens of thousands of people across the fifty states owe their involvement in the Tax Movement to Phil and his wife who are both now in prison.
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

^ To achieve the same compliance rate, the IRS would have to hire more agents, conduct more audits and investigations, and bring more people to court over alleged tax evasion.

^ He persuaded a large grocery chain to allow him to post tags next to 750 of their products for three weeks, showing how much the item would cost after sales tax was added.

.In this way, the state is able to reduce the tax burden on its citizens.^ There are ways to reduce the tax load in Vietnam especially for the entrepreneur and businessperson who wishes to build a business in the country.
  • Expat Focus - Vietnam - Taxation 24 January 2010 18:29 UTC www.expatfocus.com [Source type: News]

^ In an increasingly competitive world, lowering our marginal rates would reduce the burden of our tax system and help sustain our economic leadership.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ A Manual of the Direct and Excise Tax System of the United States -very good background on the way excise and direct taxes work.
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

The U.S. states that do not levy a state income tax are Alaska, Tennessee, Florida, Nevada, South Dakota, Texas,[24] Washington state, and Wyoming. .Additionally, New Hampshire and Tennessee levy state income taxes only on dividends and interest income.^ US and Canada New Rental Property - Help help Help - Canadian-US-Global Income tax help - david ingram expert cross border non .
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ Sale of deferred tax liens to state; interest on lien .

^ Such dot-com spending habits are of great interest to state tax departments.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

.Of the above states, only Alaska and New Hampshire do not levy a state sales tax.^ We operate an office in the State of New York, therefore we must send in quarterly Sales Taxes for all purchases made in New York State, we have an annual Partnership Tax If you are considering Tax Specialists for your activities.

^ A brand new car bought between Feb 16 and Dec 31 entitles you to make deductions from the sales tax or excise tax you paid for the vehicle.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ You can deduct local sales and state taxes on a new car purchase if you file jointly and make less than $250,000 or if you earn less than $125,000 for a single filer.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

Additional information can be obtained at the Federation of Tax Administrators website.
In the United States, there is a growing movement[25] for the replacement of all federal payroll and income taxes (both corporate and personal) with a national retail sales tax and monthly tax rebate to households of citizens and legal resident aliens. The tax proposal is named FairTax. .In Canada, the federal sales tax is called the Goods and Services tax (GST) and now stands at 5%.^ The service I receive from the tax club is really good.

^ As it stands now, the top 50% of income earners pay 96% of the federal income tax.
  • Is Taxation Theft? - Hit & Run : Reason Magazine 24 January 2010 18:29 UTC reason.com [Source type: Original source]

^ I've been on "information overload" with all of the calls/appointments to how best to utilize the Tax Club services.

The provinces of British Columbia, Saskatchewan, Manitoba, Ontario and Prince Edward Island also have a provincial sales tax [PST]. .The provinces of Nova Scotia, New Brunswick, and Newfoundland & Labrador have harmonized their provincial sales taxes with the GST - Harmonized Sales Tax [HST], and thus is a full VAT. The province of Quebec collects the Quebec Sales Tax [QST] which is based on the GST with certain differences.^ A brand new car bought between Feb 16 and Dec 31 entitles you to make deductions from the sales tax or excise tax you paid for the vehicle.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ Whatever system you want - progressive, sales tax, ow it's implemented etc etc - you AGREE taxes must be collected to pay for things for the common good.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ The Seattle-based seller collects sales tax in just a few states.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

.Most businesses can claim back the GST, HST and QST they pay, and so effectively it is the final consumer who pays the tax.^ An unincorporated body of persons or an individual would pay business tax on their share of profits.

^ Over 700 questions with evidence proving irrefutably that there is no requirement to pay or file income taxes for most private persons.
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

^ As noted resident individuals engaged in a business pay business tax on business profits.

Tariffs

.An import or export tariff (also called customs duty or impost) is a charge for the movement of goods through a political border.^ Customs duties are charged on a wide range of imported goods.

^ For manufactured goods, the tax is charged on their ex-factory value; for imported articles, it is charged as a percentage of the CIF value plus customs duty.

.Tariffs discourage trade, and they may be used by governments to protect domestic industries.^ They are governed by English laws, entitled to English dignities, regulated by English counsels, and protected by English arms; and it seems to follow, by consequence not easily avoided, that they are subject to English government, and chargeable by English taxation.
  • Taxation No Tyranny - Samuel Johnson 24 January 2010 18:29 UTC www.samueljohnson.com [Source type: Original source]

^ Utah taxpayers who have outstanding IRS tax debt may have several available IRS tax settlement options they can use to settle their debt.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ Requirement for Equal Protection and Equal Treatment, Form #05.033 -Documents constraints upon the government in providing equal protection and equal treatment that you can use as evidence in legal proceedings.
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

A proportion of tariff revenues is often hypothecated to pay government to maintain a navy or border police. The classic ways of cheating a tariff are smuggling or declaring a false value of goods. Tax, tariff and trade rules in modern times are usually set together because of their common impact on industrial policy, investment policy, and agricultural policy. A trade bloc is a group of allied countries agreeing to minimize or eliminate tariffs against trade with each other, and possibly to impose protective tariffs on imports from outside the bloc. A customs union has a common external tariff, and, according to an agreed formula, the participating countries share the revenues from tariffs on goods entering the customs union.

Toll

A toll is a tax or fee charged to travel via a road, bridge, tunnel, canal, waterway or other transportation facilities. Historically tolls have been used to pay for public bridge, road and tunnel projects. They have also been used in privately constructed transport links. The toll is likely to be a fixed charge, possibly graduated for vehicle type, or for distance on long routes.
Shunpiking is the practice of finding another route to avoid payment of tolls. In some situations where tolls were increased or felt to be unreasonably high, informal shunpiking by individuals escalated into a form of boycott by regular users, with the goal of applying the financial stress of lost toll revenue to the authority determining the levy.

Transfer tax

Historically, in many countries, a contract needed to have a stamp affixed to make it valid. .The charge for the stamp was either a fixed amount or a percentage of the value of the transaction.^ For manufactured goods, the tax is charged on their ex-factory value; for imported articles, it is charged as a percentage of the CIF value plus customs duty.

In most countries the stamp has been abolished but stamp duty remains. Stamp duty is levied in the UK on the purchase of shares and securities, the issue of bearer instruments, and certain partnership transactions. Its modern derivatives, stamp duty reserve tax and stamp duty land tax, are respectively charged on transactions involving securities and land. Stamp duty has the effect of discouraging speculative purchases of assets by decreasing liquidity. In the United States transfer tax is often charged by the state or local government and (in the case of real property transfers) can be tied to the recording of the deed or other transfer documents.

Value Added Tax / Goods and Services Tax

.A value added tax (VAT), also known as 'Goods and Services Tax' (G.S.T), Single Business Tax, or Turnover Tax in some countries, applies the equivalent of a sales tax to every operation that creates value.^ Due to the difficulty in determining the value added by certain businesses for the purpose of VAT imposition, an alternative tax levy on services, especially in the financial services sectors, was introduced in tandem with the VAT regime.
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

^ In the case of imported goods, VAT return and tax payment must be submitted to the Customs Department at the point of import.
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

^ Certain businesses are excluded from VAT and are instead subject to Specific Business Tax (SBT).
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

To give an example, sheet steel is imported by a machine manufacturer. That manufacturer will pay the VAT on the purchase price, remitting that amount to the government. .The manufacturer will then transform the steel into a machine, selling the machine for a higher price to a wholesale distributor.^ Or Sell before the Ex-Div date, receive the higher pre-Ex-Div price and forego the dividend?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.The manufacturer will collect the VAT on the higher price, but will remit to the government only the excess related to the "value added" (the price over the cost of the sheet steel).^ MORE DOMESTIC OIL and Gas Exploration and GET off CORN ETHANOL which is just adding to higher cost of living for food!!..
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ The smokers will end up paying higher prices reflecting the costs of the licenses.
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

^ The duty thus determined is added to the value of the goods determined with reference to the CIP price.
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

.The wholesale distributor will then continue the process, charging the retail distributor the VAT on the entire price to the retailer, but remitting only the amount related to the distribution mark-up to the government.^ On top of that the management service can not only justifty itself but takes its charges one way or another in relation to the total budget of the operation.
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

.The last VAT amount is paid by the eventual retail customer who cannot recover any of the previously paid VAT. For a VAT and sales tax of identical rates, the total tax paid is the same, but it is paid at differing points in the process.^ The rates of tax applicable are the same as for an indiviual.

^ WASHINGTON, D.C. - This report shows that it is America's small business owners who bear most of the burden of the 1993 tax rate increase.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Gains on the sale of assets are taxable to the extent of tax depreciation previously claimed.

.VAT is usually administrated by requiring the company to complete a VAT return, giving details of VAT it has been charged (referred to as input tax) and VAT it has charged to others (referred to as output tax).^ In the case of imported goods, VAT return and tax payment must be submitted to the Customs Department at the point of import.
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

^ Each month, if input tax exceeds output tax, the taxpayer can claim a refund, either in the form of cash or in the form of a tax credit to be used in the following months.
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

^ VAT return (Form VAT 30) together with tax payment, if any, must be submitted to the Area Revenue Branch Office within 15 days of the following month.
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

.The difference between output tax and input tax is payable to the Local Tax Authority.^ He's a confused idiot not only about the difference between the terms voluntary and free will but about the actual tax law.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ Each month, if input tax exceeds output tax, the taxpayer can claim a refund, either in the form of cash or in the form of a tax credit to be used in the following months.
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

^ Here what he says: "There's an often overlooked difference between "tax credits" and "tax rebates".
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.If input tax is greater than output tax the company can claim back money from the Local Tax Authority.^ The IRS has sole authority not only to collect federal taxes but to decide how much money they are willing to accept to settle tax debt.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ Each month, if input tax exceeds output tax, the taxpayer can claim a refund, either in the form of cash or in the form of a tax credit to be used in the following months.
  • Legal Issues for Investors : Taxation 24 January 2010 18:29 UTC www.boi.go.th [Source type: FILTERED WITH BAYES]

^ The money will be paid back to the city through property taxes over four or five years … .
  • Realty Tax Consultant — Appeal Your Property Taxes 10 January 2010 6:35 UTC realtytaxconsultant.com [Source type: News]

VAT was historically used to counter evasion in a sales tax or excise. .By collecting the tax at each production level, the theory is that the entire economy helps in the enforcement.^ In addition, a lower capital gains tax rate would improve the efficiency of capital markets and benefit the entire economy.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ CNNMoney: Obama: Tax cuts help workers and economy .
  • Taxes: News & Videos about Taxes - CNN.com 10 January 2010 6:35 UTC topics.cnn.com [Source type: News]

However, forged invoices and similar evasion methods have demonstrated that there are always those who will attempt to evade taxation

Wealth (net worth) tax

Some countries' governments will require declaration of the tax payers' balance sheet (assets and liabilities), and from that exact a tax on net worth (assets minus liabilities), as a percentage of the net worth, or a percentage of the net worth exceeding a certain level. The tax is in place for both "natural" and in some cases legal "persons".

Ethics of taxation

Ethical basis of taxation

.According to most political philosophies, taxes are justified as they fund activities that are necessary and beneficial to society.^ Although the size of the government has become the most important policy difference between the left and right in postwar politics, the formation of the government's funding base has not been explored.
  • taxation - Lulu.com 24 January 2010 18:29 UTC www.lulu.com [Source type: General]

^ For most Americans, Wednesday is the day they have to make sure they're square with the tax man.
  • Tax Policy: News & Videos about Tax Policy - CNN.com 10 January 2010 6:35 UTC topics.cnn.com [Source type: News]

^ Most people who pay federal income tax are not liable under the tax laws so technically they "volunteer".
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

Additionally, progressive taxation can be used to reduce economic inequality in a society. According to this view, taxation in modern nation-states benefit the majority of the population and social development.[26] A common presentation of this view, paraphrasing various statements by Oliver Wendell Holmes, Jr. is "Taxes are the price of civilization".[27]
.It can also be argued that in a democracy, because the government is the party performing the act of imposing taxes, society as a whole decides how the tax system should be organized.^ American society has decided as a whole to collect taxes.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ The IRS has sole authority not only to collect federal taxes but to decide how much money they are willing to accept to settle tax debt.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ This security tax should be offset by tax policy, such as the relief provided under several core components of the Economic Security and Recovery Act of 2001 (H.R. 3090).
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

[28] The American Revolution's "No taxation without representation" slogan implied this view. For traditional conservatives, the payment of taxation is justified as part of the general obligations of citizens to obey the law and support established institutions. The conservative position is encapsulated in perhaps the most famous adage of public finance, "An old tax is a good tax".[29] Conservatives advocate the "fundamental conservative premise that no one should be excused from paying for government, lest they come to believe that government is costless to them with the certain consequence that they will demand more government 'services'." [1]. Social democrats generally favor higher levels of taxation to fund public provision of a wide range of services such as universal health care and education, as well as the provision of a range of welfare benefits.[30] As argued by Tony Crosland and others, the capacity to tax income from capital is a central element of the social democratic case for a mixed economy as against Marxist arguments for comprehensive public ownership of capital. Many libertarians recommend a minimal level of taxation in order to maximize the protection of liberty.
Compulsory taxation of individuals, such as income tax, is often justified on grounds including territorial sovereignty, and the social contract. .Defenders of business taxation argue that it is an efficient method of taxing income that ultimately flows to individuals, or that separate taxation of business is justified on the grounds that commercial activity necessarily involves use of publicly established and maintained economic infrastructure, and that businesses are in effect charged for this use.^ Here's the rub: Congress and the White House cut a deal in the negotiations for the 2001 income tax cut that increased the amount that individuals can leave to heir's tax free.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ US Individual Income Tax Declaration for IRS e-file return .
  • IRS Tax Forms - Federal Tax Forms - State Tax Forms - IRS Form 1040 - Free Tax Filing 10 January 2010 6:35 UTC www.esmarttax.com [Source type: Reference]

^ WASHINGTON, D.C. - The alternative minimum tax (AMT) for individuals is a separate system of income taxation that operates in parallel to the regular income tax.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

[31] Georgist economists argue that all of the economic rent collected from natural resources (land, mineral extraction, fishing quotas, etc.) is unearned income, and belong to the community rather than any individual. .They advocate a high tax (the "Single Tax") on land and other natural resources to return this unearned income to the state, but no other taxes.^ There are no other taxes on the income of a corporation resident in Montserrat.

^ Large estate tax bills divert resources from investment and employment and often force families to develop environmentally sensitive land.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Income tax [electronic resource] : a concise exposition of the law and practice thereof, with instructions as to filling up and returning the necessary forms : to which is prefixed a short thesis on direct and indirect taxation, with forms / by Thomas C. .

Optimal taxation theory

.Most governments need revenue which exceeds that which can be provided by non-distortionary taxes or through taxes which give a double dividend.^ Most people don't need to be concerned about it because the amount exempted from the tax is so large.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ If you want to know MOST of the government's tax litigation tactics, you can refer to the DOJ Tax Division Criminal Tax Manual .
  • Taxation 24 January 2010 18:29 UTC famguardian.org [Source type: Original source]

^ Your annual tax liability is fairly small, most reflecting dividends payments.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.Optimal taxation theory is the branch of economics that considers how taxes can be structured to give the least deadweight costs, or to give the best outcomes in terms of social welfare.^ What is your advice for how we can best protect our 401-k and IRA money so it isn't taxed to exhaustion when the time comes for us to take distributions?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Theory of taxation and public economics / Louis Kaplow.

^ Lectures on the economic theory of taxation : economic reform, socially optimal piecemeal consumption taxation structures and information / Alan Martina.

Ramsey problem deals with minimising deadweight costs. Because deadweight costs are related to the elasticity of supply and demand for a good, it follows that putting the highest tax rates on the goods for which there is most inelastic supply and demand will result in the least overall deadweight costs.
.Some economists have sought to integrate optimal tax theory with the social welfare function, which is the economic expression of the idea that equality is valuable to a greater or lesser extent.^ Richard Whiting's broad-ranging, lucid and readable study examines how Labour used tax to further its political aims of funding welfare, managing the economy, promoting fairness and achieving greater equality.
  • taxation - Lulu.com 24 January 2010 18:29 UTC www.lulu.com [Source type: General]

^ Lectures on the economic theory of taxation : economic reform, socially optimal piecemeal consumption taxation structures and information / Alan Martina.

^ For example, I may agree that some taxation is necessary, but disagree over the means of levying them: some economists might argue for a sales tax rather than income tax, for example.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

If individuals experience diminishing returns from income, then the optimum distribution of income for society involves a progressive income tax. .Mirrlees optimal income tax is a detailed theoretical model of the optimum progressive income tax along these lines.^ How did we get along for the first 120 years without an income tax?
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ "The data publicly released by the JEC today reflect the steeply progressive impact of the federal income tax," Saxton said.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ "These data must be considered before any valid distributional evaluation of various income tax proposals can be made.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

.Over the last years the validity of the theory of optimal taxation was discussed by many political economists.^ Lectures on the economic theory of taxation : economic reform, socially optimal piecemeal consumption taxation structures and information / Alan Martina.

^ WASHINGTON, D.C. - As discussion continues over the federal government's budget for fiscal year 2000, a large number of political leaders are calling for some form of tax relief.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Birkenfeld pleaded guilty last year to helping many of his clients, including billionaire Igor Olenicoff, evade taxes.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

Canegrati (2007) demonstrated that if we move from the assumption that governments do not maximise the welfare of society but the probability of winning elections, the tax rates in equilibrium are lower for the most powerful groups of society, instead of being the lowest for the poorest as in the optimal theory of direct taxation developed by Atkinson and Joseph Stiglitz. See Canegrati's formulae

Views opposed to taxation

Because payment of tax is compulsory and enforced by the legal system, some political philosophies view taxation as theft (or as a violation of property rights), or tyranny, accusing the government of levying taxes via force and coercive means[32]. Individualist anarchists, objectivists, anarcho-capitalists, and libertarians see taxation as government aggression (see zero aggression principle). The view that democracy legitimizes taxation is rejected by those who argue that all forms of government, including laws chosen by democratic means, are fundamentally oppressive. According to Ludwig von Mises, "society as a whole" should not make such decisions, due to methodological individualism.[33] Libertarian opponents of taxation claim that governmental protection, such as police and defense forces might be replaced by market alternatives such as private defense agencies, arbitration agencies or voluntary contributions.[34] Walter E. Williams, professor of economics at George Mason University, stated "Government income redistribution programs produce the same result as theft. In fact, that's what a thief does; he redistributes income. The difference between government and thievery is mostly a matter of legality."[35]
Discourse surrounding taxation generally places an emphasis on the intended benefits; healthcare, schools and so on, but rarely points to the harm caused by forced removal of possessions.
Taxation has also been opposed by communists and socialists. Karl Marx assumed that taxation would be unnecessary after the advent of communism and looked forward to the "withering away of the state". In socialist economies such as that of China, taxation played a minor role, since most government income was derived from the ownership of enterprises, and it was argued by some that taxation was not necessary.[36] While the morality of taxation is sometimes questioned, most arguments about taxation revolve around the degree and method of taxation and associated government spending, not taxation itself.

Effects of income taxation on division of labor

If a tax is paid on outsourced services that is not also charged on services performed for oneself, then it may be cheaper to perform the services oneself than to pay someone else — even considering losses in economic efficiency. [37][38]
For example, suppose jobs A and B are both valued at $1 on the market. .And suppose that because of your unique abilities, you can do job A twice over (100% extra output) in the same effort as it would take you to do job B. But job B is the one that you need done right now.^ Smart Tax contains all of the common forms and schedules you will need to easily and conveniently complete your taxes.
  • IRS Tax Forms - Federal Tax Forms - State Tax Forms - IRS Form 1040 - Free Tax Filing 10 January 2010 6:35 UTC www.esmarttax.com [Source type: Reference]

^ The same goes with the company you've chosen to place your rollover IRA. And if you put the money into a comparable investment you shouldn't take much of a hit on the transfer, either.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Here's why: Up until now, you could only convert a traditional IRA into a Roth-IRA if your modified gross adjusted income was under $100,000.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.Under perfect division of labor, you would do job A and somebody else would do job B. Your unique abilities would always be rewarded.^ I have been researching the companies that you see on television and so far all but 2 have an F rating with the BBB. I was wondering what your advice would be about them or using a group like this in general.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ That your company would empower you to take care of your clients in this manner speaks volumes to the Tax Club's commitment to small business success.

^ Answer: With the scenario you've laid out you would come under the capital gain and capital loss rules.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.Income taxation has the worst effect on division of labor in the form of barter.^ Marginal individual income tax rate reductions clearly stimulate aggregate consumption and labor force participation, but their stimulative effects on aggregate investment have been disputed.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ One form of bias is the multiple taxation of saving and investment under various provisions of the current income tax structure.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ The NJ Division of Taxation website has an excellent “2009 Income Tax Info” page with links to all kinds of resources.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

Suppose that the person doing job B is actually interested in having job A done for him. .Now suppose you could amazingly do job A four times over, selling half your work on the market for cash just to pay your tax bill.^ How are you forced to pay taxes?
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ You are REQUIRED to file your taxes.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ You get a tax break on your contributions.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.The other half of the work you do for somebody who does job B twice over but he has to sell off half to pay his tax bill.^ How are you forced to pay taxes?
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ It's also important to have other savings on hand to pay the tax bill.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ That does in fact mean you are forced to pay your taxes.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

.You're left with one unit of job B, but only if you were 400% as productive doing job A! In this case of 50% tax on barter income, anything less than 400% productivity will cause the division of labor to fail.^ You're the one who's babbling.
  • Free For All - The Free Liberal Blog: Is Taxation Voluntary? 24 January 2010 18:29 UTC www.freeliberal.com [Source type: Original source]

^ Your Mom is in a lower tax bracket than you're in.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Our knowledgeable staff offers a wide range of Income Tax Refunds in more than 12 countries.
  • International Tax Refunds - Tax Return Services, Income Tax Refund 10 January 2010 6:35 UTC internationaltaxrefunds.com [Source type: News]

.In summary, depending on the situation a 50% tax rate can cause the division of labor to fail even where productivity gains of up to 300% would have resulted.^ The gain would not be subject to capital taxes.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

^ Misclassifying contractors or even temporary laborers that the IRS feels should be treated as employees can cost you big dollars in payroll taxes, penalties, and interest.
  • Alltop - Top Taxes News 10 January 2010 6:35 UTC taxes.alltop.com [Source type: General]

^ Would it be better for me to sell it, pay the capital gains taxes, and have her rebuy it with the proceeds?
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

.Even a mere 30% tax rate can negate the advantage of a 100% productivity gain.^ In addition, a lower capital gains tax rate would improve the efficiency of capital markets and benefit the entire economy.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Furthermore, failure to adjust capital gains for inflation results in excessively high effective capital gains tax rates, imposing an unfair burden on taxpayers even when the inflation rate is relatively low.
  • Taxation 24 January 2010 18:29 UTC www.house.gov [Source type: FILTERED WITH BAYES]

^ Answer: Yes, short-term gains are taxed at your ordinary income tax rate.
  • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

[39]

See also

By country or region

Notes

  1. ^ a b Black's Law Dictionary, p. 1307 (5th ed. 1979).
  2. ^ See, e.g., 26 U.S.C. § 7203 in the case of U.S. Federal taxes.
  3. ^ a b c d "Tax havens cause poverty". Tax Justice Network. http://www.taxjustice.net/cms/front_content.php?. Retrieved 2007-09-30. 
  4. ^ Cobham, Alex (2007-01). "The tax consensus has failed!". The Oxford Council on Good Governance. http://www.oxfordgovernance.org/fileadmin/Publications/ER008.pdf. Retrieved 2007-09-30. 
  5. ^ Ross, Michael, L. (2007-01-27). "Does Taxation Lead to Representation?". UCLA Department of Political Science. http://www.polisci.ucla.edu/faculty/ross/taxrep.pdf. Retrieved 2007-09-30. 
  6. ^ "Internal Revenue Service". 64.233.169.104. http://64.233.169.104/search?q=cache:zqosOQwOAQUJ:www.irs.gov/app/understandingTaxes/jsp/whys/lp/IWT5L1lp.jsp. Retrieved 2009-03-27. 
  7. ^ "luxury tax - Britannica Online Encyclopedia". Concise.britannica.com. http://concise.britannica.com/ebc/article-9370763/luxury-tax. Retrieved 2009-03-27. 
  8. ^ jstor.org
  9. ^ "University of Chicago: Department of Economics". Economics.uchicago.edu. 2009-01-05. http://economics.uchicago.edu/research.shtml. Retrieved 2009-03-27. 
  10. ^ Parkin, Michael (2006), Principles of Microeconomics, p. 134.
  11. ^ Taxes in the Ancient World, University of Pennsylvania Almanac, Vol. 48, No. 28, April 2, 2002
  12. ^ Olmert, Michael (1996). Milton's Teeth and Ovid's Umbrella: Curiouser & Curiouser Adventures in History, p.41. Simon & Schuster, New York. ISBN 0-684-80164-7.
  13. ^ Hoffman, Phillipe and Kathryn Norberg (1994), Fiscal Crises, Liberty, and Representative Government, 1450-1789, p. 238.
  14. ^ Hoffman, Phillipe and Kathryn Norberg (1994), Fiscal Crises, Liberty, and Representative Government, 1450-1789, p. 300 .
  15. ^ "OECD national accounts". http://www.oecd.org/topicstatsportal/0,2647,en_2825_495684_1_1_1_1_1,00.html. Retrieved 2007-03-01. 
  16. ^ Tax/Spending Burden, Forbes magazine, 05-24-04
  17. ^ "Land Value Taxation: An Applied Analysis, William J. McCluskey, Riël C. D. Franzsen". Books.google.com. http://books.google.com/books?id=jkogP2U4k0AC&pg=PA73&lpg=PA73&dq=disadvantages+of+land+value+taxation&source=web&ots=Yn2x3XN3gf&sig=tr_q00vD3k9bSE4S3YLY5Qznms8#PPA4,M1. Retrieved 2009-03-27. 
  18. ^ The OECD Classification of Taxes and Interpretative Guide, Organisation for Economic Co-operation and Development, 2004
  19. ^ http://www.ssc.uwo.ca/economics/econref/workingpapers/researchreports/wp2000/wp2000_1.pdf
  20. ^ "Tax Facts | Tax Facts Listing". Taxpolicycenter.org. http://www.taxpolicycenter.org/TaxFacts/listdocs.cfm?topic2id=60. Retrieved 2009-03-27. 
  21. ^ Steven H. Gifis, Law Dictionary (Barron's), p. 471 (2d ed. 1984).
  22. ^ McCluskey, William J.; Franzsen, Riël C. D. (2005), Land Value Taxation: An Applied Analysis, Ashgate Publishing, Ltd., p. 4, ISBN 0754614905, http://books.google.com/books?id=jkogP2U4k0AC&pg=PA73&lpg=PA73&dq=disadvantages+of+land+value+taxation&source=web&ots=Yn2x3XN3gf&sig=tr_q00vD3k9bSE4S3YLY5Qznms8#PPA4,M1 
  23. ^ a b c d "TPC Tax Topics | Federal Budget". Taxpolicycenter.org. http://www.taxpolicycenter.org/taxtopics/budget.cfm. Retrieved 2009-03-27. 
  24. ^ Although Texas has no individual income tax, the state does impose a franchise tax—soon to be replaced by a margin tax—on business activity that, while not denominated as an income tax, is in substance a kind of income tax.
  25. ^ "Economist.com". Economist.com. http://www.economist.com/business/displaystory.cfm?story_id=13110436. Retrieved 2009-03-27. 
  26. ^ Population and Social Integration Section (PSIS), United Nations Social and Economic Commission for Asia and the Pacific
  27. ^ "Quote it Completely!". Books.google.com.au. http://books.google.com.au/books?id=kjwVASsTUm0C&pg=PA1045&lpg=PA1045&dq=taxation+price+civilisation+holmes+quote&source=web&ots=DoGoSChnNa&sig=jPjtYiCWTYkJeSSVgSlwtMha37Q&hl=en&sa=X&oi=book_result&resnum=2&ct=result#PPA1046,M1. Retrieved 2009-03-27. 
  28. ^ Logue, Danielle. 2009. "Moving policy forward: 'brain drain' as a wicked problem." Globalisation, Societies & Education 7, no. 1: 41-50. Academic Search Premier, EBSCOhost. Retrieved February 18, 2009.
  29. ^ "Tax History Project: The Depression and Reform: FDR's Search for Tax Revision in N.Y. (Copyright, 2003, Tax Analysts)". http://www.taxhistory.org/thp/readings.nsf/ArtWeb/44DC64199FBB0ED885256DFE005981FE?OpenDocument. 
  30. ^ Ruiz del Portal, X. 2009. "A general principal–agent setting with non-differentiable mechanisms: Some examples." Mathematical Social Sciences 57, no. 2: 262-278. Academic Search Premier, EBSCOhost . Retrieved February 18, 2009.
  31. ^ Van Der Graaf, Rieke, and Johannes J. M. Van Delden. 2009. Clarifying appeals to dignity in medical ethics from an historical perspective. Bioethics 23, no. 3: 151-160. Academic Search Premier, EBSCOhost. Retrieved February 18, 2009.
  32. ^ For an overview of the classical liberal perspective on taxation see www.irefeurope.org
  33. ^ Human Action Chapter II. Sec. 4. The Principle of Methodological Individualism by Ludwig von Mises
  34. ^ Spencer Heath MacCallum (2007-09-12). "The Rule of Law Without the State,". Ludwig Von Mises Institute. http://www.mises.org/story/2701. Retrieved 2008-08-16. 
  35. ^ Williams, Walter E. (2008-08-06). "Government theft, American-style". WorldNetDaily. http://www.worldnetdaily.com/index.php?pageId=71517. Retrieved 2008-09-11. 
  36. ^ Li, Jinyan (1991). Taxation in the People's Republic of China. New York: Praeger. ISBN 0-275-93688-0. 
  37. ^ Johnsson, Richard. "Taxation and Domestic Free Trade". Ideas.repec.org. http://ideas.repec.org/p/hhs/ratioi/0040.html. Retrieved 2009-03-27. 
  38. ^ Corsi, Jerome, 2007. "The VAT: Menace to Free Trade", WorldNetDaily Exclusive Commentary, WorldNetDaily, February 3, 2007
  39. ^ Johnsson, Richard, 2004. "Taxation and Domestic Free Trade," Ratio Working Papers 40, The Ratio Institute, revised June 7, 2004.

External links


Quotes

Up to date as of January 14, 2010
(Redirected to Taxation article)

From Wikiquote

.To tax (from the latin taxare: to estimate, which in turn is from tangere: to touch) is to impose a financial charge or other levy upon an individual or legal entity by a state or the functional equivalent of a state.^ Individual Estimated Tax Payment Voucher .
  • IRS Tax Forms - Federal Tax Forms - State Tax Forms - IRS Form 1040 - Free Tax Filing 10 January 2010 6:35 UTC www.esmarttax.com [Source type: Reference]

^ Underpayment of Estimated Income Tax By Individuals and Fiduciaries .
  • IRS Tax Forms - Federal Tax Forms - State Tax Forms - IRS Form 1040 - Free Tax Filing 10 January 2010 6:35 UTC www.esmarttax.com [Source type: Reference]

^ Credit for Tax Paid to Other States .
  • IRS Tax Forms - Federal Tax Forms - State Tax Forms - IRS Form 1040 - Free Tax Filing 10 January 2010 6:35 UTC www.esmarttax.com [Source type: Reference]

Sourced

.
  • The law before us, my lords, seems to be the effect of that practice of which it is intended likewise to be the cause, and to be dictated by the liquor of which it so effectually promotes the use; for surely it never before was conceived by any man entrusted with the administration of public affairs, to raise taxes by the destruction of the people.^ My average weekly income before taxes is $550 to $600.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    • Philip Dormer Stanhope, from a speech in the House of Lords (Feb. 22, 1743), on the Gin Licensing Act, recorded in The Parliamentary History of England to the Year 1803, vol. .XII.
  • To please universally was the object of his life; but to tax and to please, no more than to love and to be wise, is not given to men.^ However, she also gets to take advantage of the low capital gains tax rate since you owned the stock for more than a year.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ Question: For the first time in my life, I actually did my taxes earlier than usual.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ You're responsible for paying Social Security and Medicare taxes (assuming your wages are more than $1,600 a year in 2008).
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    • Edmund Burke, speech on American taxation, House of Commons (April 19, 1774); The Writings and Speeches of Edmund Burke, ed. Paul Langford, vol. 2, p. .454 (1981)
  • Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.^ As a solution to this problem, my understanding is that if our parents sell us this property now, with a codicil that they will stay in the house until their deaths, there won't be any inheritance taxes to us.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ Question: I have heard that this new rebate check that was just passed by Congress and now the White House is nothing more than an advance on our 2008 tax return.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    • Benjamin Franklin, Letter to M. Leroy (Nov. 13, 1789). Complete Works, vol. 10, ed. John Bigelow (1887-1888)
  • An unlimited power to tax involves, necessarily, a power to destroy.
  • Men who prefer any load of infamy, however great, to any pressure of taxation, however light.
  • Countries, therefore, when lawmaking falls exclusively to the lot of the poor cannot hope for much economy in public expenditure; expenses will always be considerable, either because taxes cannot touch those who vote for them or because they are assessed in a way to prevent that.
  • In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.^ Taxes aren't an issue with I-Bonds, a savings bond that is the federal government's other inflation-protected security.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ It's also important to have other savings on hand to pay the tax bill.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ In other words, the long-term investor enjoys the payoff from dividends and capital gains (and pays taxes on the gain).
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

  • If you tax too high, the revenue will yield nothing.^ Generally speaking, tax credits only offset tax balances due - meaning if you have low income and owe nothing in tax, you get no benefit from a credit.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ My own guess is that the pressure for revenue without pushing rates too high will lead to major tax reform.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

  • Civil servants and priests, soldiers and ballet-dancers, schoolmasters and police constables, Greek museums and Gothic steeples, civil list and services list—the common seed within which all these fabulous beings slumber in embryo is taxation.
    • Karl Marx, Moralizing Criticism and Critical Morality (1847)
  • Taxes are the chief business of a conqueror of the world. .
  • Of all debts men are least willing to pay the taxes.^ Since our annual income is around $34,000, we tend to get all of our tax money back at the end of the year (at least until I'm out of college).
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ A simpler, progressive tax code with lower rates would benefit all taxpayers and also ensure that the nation's wealthiest families pay taxes.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    What a satire is this on government! Everywhere they think they get their money’s worth, except for these.
    • Ralph Waldo Emerson, “Politics,” Essays: Second Series, in The Complete Writings of Ralph Waldo Emerson, vol. 1, p. 302 (1929)
  • Death and taxes and childbirth! There’s never any convenient time for any of them!
  • Indoors or out, no one relaxes
    In March, that month of wind and taxes,
    The wind will presently disappear,
    The taxes last us all the year.^ Her last years' earnings were $1646, no federal or state taxes withheld, just social security and medicare.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ It all depends on comparing the actual tax bills and see where you come out ahead.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ Question: Hello, I sold my house last year and lost 30K. Can I claim any capital loss on my tax returns?
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    .
  • Note, besides, that it is no more immoral to directly rob citizens than to slip indirect taxes into the price of goods that they cannot do without.^ But I wouldn't do anything without good evidence that you and your brother are among the estimated 0.2% of all estates this year that might be subject to the tax.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ Question: Can monthly pension benefits be deposited directly into an IRA and be treated as a rollover thus deferring taxes?
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ Answer: You'll want to do what's called a "rollover IRA." There are no tax consequences or penalties so long as the money is transferred from your former employer directly into the rollover IRA account.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

  • And I'm the one who will not raise taxes. .My opponent now says he'll raise them as a last resort, or a third resort.^ In anticipation of buying a house last year, my husband and I took more exemptions, and now owe quite a bit more than we have in previous years.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    .But when a politician talks like that, you know that's one resort he'll be checking into.^ You'll convert the non-deductible IRA into a Roth in 2010.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ Washington wants to get money into your hands on the theory that you'll go out and buy an I-phone, a flat panel TV, pay for a delayed car repair, and the like.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ But while you two talk it over, I would put it in a very safe place like a bank savings account or certificate of deposit--nothing fancy.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    .My opponent, my opponent won't rule out raising taxes.^ I've always tried to max out my pre-tax retirement savings.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    But I will. And the Congress will push me to raise taxes and I'll say no. .And they'll push, and I'll say no, and they'll push again, and I'll say, to them, Read my lips: No new taxes!
  • The Inland Revenue is not slow, and quite rightly, to take every advantage which is open to it under the Taxing Statutes for the purposes of depleting the taxpayer’s pocket.^ According to a recent article in the New York Times, Fannie Mae "workers had $116 million in the employee stock ownership plan at the end of 2006.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ I've looked forward to being "mortgage-free" for some time, but several of our friends suggest losing the tax advantage is a bad financial move.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ New home buyers still need to come up with an initial 3.5% down payment before taking advantage of the credit money.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    And the taxpayer is in like manner entitled to be astute to prevent, so far as he honestly can, the depletion of his means by the Inland Revenue.
  • Printing money is merely taxation in another form.^ By the way, in most cases it does not make sense to Roth if you have to use your retirement savings money to pay the tax levy.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    Rather than robbing citizens of their money, government robs their money of its purchasing power.

Unsourced

  • The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing. .
  • The only thing that hurts more than paying an income tax is not having to pay an income tax.^ The reason is that you can't get access to the money without paying a steep 10% penalty as well as ordinary income taxes if you withdraw the money before 59 ½.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ With an IRA, your investment grows tax deferred until you pull it out in retirement and pay ordinary incomes taxes on the withdrawal.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ What's more, when you convert from an IRA to a Roth you owe income taxes on the amount converted.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    • Lord Thomas R. Dewar (1864-1930), Scottish peer, whiskey distiller and aphorist.
  • Beware of the taxman — he’ll pinch your wallet! .
  • Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents?^ But if you have a well-diversified portfolio and adequate savings why not get rid of the mortgage.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ But while you two talk it over, I would put it in a very safe place like a bank savings account or certificate of deposit--nothing fancy.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ Maybe your income will plunge in which case you'd probably elect to pay the tax over two years.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

  • Capital Punishment: The Income tax.^ I am worried about selling the stock and the resulting tax implications of the capital gains tax on the sale of the stock, my increase in income and corporate profits..
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ Question: I have been told that in 2009, if my income is under $65,000, I do not have to pay capital gains tax on some stocks that I would like to sell.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

    ^ The long-term capital gains rate for investors in the 10% and 15% income tax bracket will drop to zero between 2008 and 2010.
    • Taxes entries | Getting Personal | Marketplace from American Public Media 10 January 2010 6:35 UTC www.publicradio.org [Source type: General]

See also

Wikipedia
Wikipedia has an article about:
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Look up taxation in Wiktionary, the free dictionary

Wiktionary

Up to date as of January 15, 2010
(Redirected to tax article)

Definition from Wiktionary, a free dictionary

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Wikipedia has an article on:

Contents

English

Etymology

From Middle English, from Anglo-Norman taxer (to impose a tax), from Latin taxare (to handle", "censure", "appraise", "compute)

Pronunciation

Noun

Singular
tax
Plural
countable and uncountable; plural taxes
tax (countable and uncountable; plural taxes)
  1. (government) Money paid to the government other than for transaction-specific goods and services.

Hyponyms

Coordinate terms

Derived terms

Translations

Verb

Infinitive
to tax
Third person singular
taxes
Simple past
taxed
Past participle
taxed
Present participle
taxing
to tax (third-person singular simple present taxes, present participle taxing, simple past and past participle taxed)
  1. (transitive, government) To impose and collect a tax from.
  2. (transitive) To use to the limit

Derived terms

Translations


Latin

Alternative spellings

  • Also spelled tux tax.

Noun

tax
  1. an onomatopoeia expressing the sound of blows, whack, crack

Simple English

Tax is money that people have to pay to the government.

In ancient times, people from one city or region would attack people from another place, and make them pay tribute. Tribute meant that the conquered people would pay money (or other things), and the conqueror would stop attacking them. A famous tribute was the Danegeld, when people from Denmark conquered part of England and made the English pay thousands of silver coins. In a tax, the government makes the people of a country, state, or city pay money. This money goes to pay people who work for the government and to pay for things that the government does.

Types of taxes

There are lots of different kinds of taxes. Some taxes are based on how much money a person earns. The more money is earned, the more a person must pay. This is called an income tax.

There are three different types of income taxes:

  • Flat Income Tax: everybody pays the same percentage of their income. Russia has a flat income tax and everybody in Russia has to pay 13% of the income.
  • Progressive Income Tax: the more money a person makes, the higher percentage of their income they have to pay. The United States and several European countries have this tax. An example of this tax is if a person who makes $40,000 per year pays 10% of their income and a person who makes $1,000,000 per year pays 40% of their income.
  • Regressive Income Tax: the more money a person makes, the lower percentage of their income they have to pay (the opposite of the Progressive Income Tax). This tax is very uncommon.

Other taxes are based on how much a person buys. This is a sales tax or value added tax (VAT). Some people suggest replacing the income tax with a larger sale tax. That idea is called the fair tax.

There are also taxes based on how much a person owns, called property tax. Things like houses have a property tax on them.

In the United States, for example, the national government has an income tax; most states have an income tax or a sales tax, or both; and cities and towns may have a sales tax or a property tax. In some states such as Ohio, the sales tax is different in each county.

What the government does with money it gets from taxes

The government uses the money collected from taxes to pay for things. For example, people who work for the government must be paid, so some taxes are used to pay these people. Taxes are sometimes also used in ways that help everybody, like to pay for education, health care, and to keep things like roads, bridges, sewers, and certain buildings in good shape.krc:Налог



Citable sentences

Up to date as of December 23, 2010

Here are sentences from other pages on Tax, which are similar to those in the above article.








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