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| *Loan,banking and credit>>>business tax |
List and describe 6 of the various types of taxes people and businesses pay. Then give 4 basic rules to tax.? |
List and describe 6 of the various types of taxes people and businesses pay. Then give 4 basic rules to tax.? Types of Taxes - 1. Sales - tax based on a percentage of the sales price of an item 2. Income - tax based on a percentage of income earned 3. Property - tax based on the value of property held 4. Import Duties - tax based on the value of items being imported 5. Excise - tax based on the value of an item on which the excise tax is imposed, such as tobacco, cigarettes, liquor, gasoline 6. Estate - tax based on the value of an estate when a person dies Basic Rules - 1. Taxes are imposed by the government 2. Taxes are collected by the government 3. Taxes are used to fund the government 4. Everybody pays taxes in one form or another |
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| tax table tax tips tax year income tax business tax car tax child tax cigarette tax corporate tax estate tax |
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