| A history of taxation | Purposes and effects of taxation | Tax rates | Direct and indirect taxation | Income tax | Retirement Capital gains Corporation and Poll tax | Sales, Property and Value added tax |
Sales, Property and Value added tax
Sales taxes are a form of excise levied when a commodity is sold to its final consumer. Retail organizations contend that such taxes discourage retail sales. The question of whether they are generally progressive or regressive is a subject of much current debate. People with higher incomes spend a lower proportion of them, so a flat-rate sales tax will tend to be regressive. 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. 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 US states rely entirely on sales taxes for state revenue, as those states do not levy a state income tax. 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. In this way, the state is able to reduce the tax burden on its citizens.ancient india architecture of ancient greece art nouveau style brick a ceramic block caching
The US states that do not levy a state income tax are Alaska, Florida, Nevada, South Dakota, Texas, Washington state, and Wyoming. Additionally, New Hampshire and Tennessee only levy state income taxes on dividends and interest income. Of the above states, only Alaska and New Hampshire do not levy a state sales tax. Additional information can be obtained at the Federation of Tax Administrators website.The sales tax has come into national attention with the growing movement for a "FairTax" federal tax system, which is, in all reality, simply a national retail sales tax. That subject is covered more in depth in the Wikipedia entry "FairTax".
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Tariffs
An import or export tariff (also called customs duty or impost) is a charge for the movement of goods through a political border. Tariffs discourage trade, and they may be used by governments to protect domestic industries. A proportion of tariff revenues is often hypothecated to pay government to maintain a navy or border police. The classic way of cheating a tariff is smuggling.
Property taxes
A property tax is usually levied on the value of property owned, usually real estate. Property taxes may be charged on a recurrent basis, or upon a certain event.
comparison to sdtv computer consulting construction copy of turquoise cowboy boots A common type of property tax is an annual charge on the ownership of real estate, where the tax base is the supposed value of the property. For a period of over 150 years from 1695 a window tax was levied in England, with the result that you can still see listed buildings with windows bricked up in order to save their owner's money. A similar tax existed in France, 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, a land value tax is levied only on the unimproved value of the land ("land" in this instance meaning the economic term, i.e., all natural resources). Land tax has long been recognized as the only tax which does not distort market relations. Some political economists claim that because land is not the product of labor it should be the only tax.criticism crystallization processes cultural aspects daily life of the aztec data
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.
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