income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income)...

income tax collected by the United States, most individual U.S. states collect a state income tax. Some local governments also impose an income tax,...

impose an income tax. They are determined by applying a tax rate, which may increase as income increases, to taxable income, which is the total income less...

income pay a lower percentage of that income in tax than do those with higher income. It can also apply to adjustments of the tax base by using tax exemptions...

Taxable income refers to the base upon which an income tax system imposes tax. In other words, the income over which the government imposed tax. Generally...

A corporate tax, also called corporation tax or company tax, is a type of direct tax levied on the income or capital of corporations and other similar...

The Income Tax Department (also referred to as IT Department; abbreviated as ITD) is a government agency undertaking direct tax collection of the government...

Income taxes in Canada constitute the majority of the annual revenues of the Government of Canada, and of the governments of the Provinces of Canada. In...

In economics, a negative income tax (NIT) is a system which reverses the direction in which tax is paid for incomes below a certain level; in other words...

affairs to the tax authorities to reduce the taxpayer's tax liability, and it includes dishonest tax reporting, declaring less income, profits or gains...

taxes (EBIT) is a measure of a firm's profit that includes all incomes and expenses (operating and non-operating) except interest expenses and income...

professional traders and those who trade frequently are taxed on such profits as a business income. In Sweden, the Investment Savings Account (ISK – Investeringssparkonto)...

types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance...

corporate income. Countries or sub-units often also impose wealth taxes, inheritance taxes, gift taxes, property taxes, sales taxes, use taxes, environmental...

federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, capital gains,...

central government to tax non-agricultural income; agricultural income is defined in Section 10(1) of the Income-tax Act, 1961. Income-tax law consists of the...

The Individual Income Tax in China (commonly abbreviated IIT) is administered on a progressive tax system with tax rates from 3 percent to 45 percent...

Schedule B (tax on commercial occupation of land) Schedule C (tax on income from public securities) Schedule D (tax on trading income, income from professions...

corporation's income is determined by tax laws of the country and can be influenced by many factors such as income level, type of income, and so on. There...

States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low- to moderate-income working individuals...

Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the...

state and local income taxes and property taxes, further limiting the mortgage interest deduction, reducing the alternative minimum tax for individuals...

potential tax rates around Europe for certain income brackets. It is focused on three types of taxes: corporate, individual, and value added taxes (VAT)....

Taxation of income in the United States has been practiced since colonial times. Some southern states imposed their own taxes on income from property...

Corporate tax is imposed in the United States at the federal, most state, and some local levels on the income of entities treated for tax purposes as...

began collecting sales taxes in the 1930s. The United States imposed income taxes briefly during the Civil War and the 1890s. In 1913, the 16th Amendment...

(Amendment XVI) to the United States Constitution allows Congress to levy an income tax without apportioning it among the states on the basis of population. It...

government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues...

A tax return is a form on which a person or organization presents an account of income and circumstances, used by the tax authorities to determine liability...

The income tax threshold is the income level at which a person begins paying income taxes. The income tax threshold equates to the: Personal allowance...