Economic Institutions and Issues
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Sin Tax | show 🗑
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Incidence of a Tax | show 🗑
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Tax Loophole | show 🗑
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show | federal tax levied on wages, salaries, and other income of individuals
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Sales Tax | show 🗑
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show | annual report by a taxpayer filed with the local, state, or federal government detailing income earned and taxes owed
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show | belief that taxes should be paid according to benefits received regardless of income
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show | belief that taxes should be paid according to the level of income, regardless of benefits received
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Proportional Tax | show 🗑
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show | total taxes paid divided by total taxable income
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Medicare | show 🗑
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show | tax in which the percentage of income paid in tax rises as level of income rises
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show | tax rate that applies to the next dollar of taxable income
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Regressive Tax | show 🗑
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show | branch of the U.S. Treasury Department that collects taxes
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show | system that automatically deducts income taxes from paychecks on a regular basis
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show | adjustment of the tax brackets to offset the impact of inflation
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FICA | show 🗑
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Payroll Tax | show 🗑
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show | tax on corporate profits
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Excise Tax | show 🗑
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show | tax on the transfer of property when a person dies
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Gift Tax | show 🗑
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show | tax on imported goods
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User Fee | show 🗑
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show | revenue funds that one level of government receives from another level of government
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show | tax on tangible and intangible possessions such as real estate, buildings, furniture, stocks, bonds, and bank accounts
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Tax Assessor | show 🗑
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Natural Monopoly | show 🗑
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Payroll Withholding Statement | show 🗑
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Accelerated Depreciation | show 🗑
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show | tax credit given for purchase of equipment
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show | personal income tax rate that applies to cases in which taxes would otherwise fall below a certain level
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show | profits from the scale of an asset held for 12 months or longer
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show | proportional tax on individual income after a specified threshold has been reached
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show | tax on the value added at every stage of the production process
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