Taxation Taxation A sales tax is a tax on consumption. It is normally a certain percentage that is added onto the price of a good or service that is purchased. ...more on Wikipedia about "Sales tax"
Seigniorage, also spelled seignorage or seigneurage, is the net revenue derived from the issuing of currency. It arises from the difference between the face value of a coin or bank note and the cost of producing and distributing it. Seigniorage is an important source of revenue for some national governments. ...more on Wikipedia about "Seigniorage"
Sin tax is a euphemism for a tax specifically levied on certain generally socially-proscribed goods - usually alcohol and tobacco. Sin taxes are often enacted for special projects - American cities and counties have used them to pay for stadiums - when increasing income or property taxes would be politically inviable. ...more on Wikipedia about "Sin tax"
The solidarity tax on wealth is a French annual direct tax on those having assets in excess of 720,000 euros (as of January 1 2003). ...more on Wikipedia about "Solidarity tax on wealth"
Solvent Yellow 124, also called SY124, Sudan 455, Somalia Yellow, T10 Yellow LBN, is a yellow azo dye used in European Union as a fuel dye. It is a marker used since August 2002 to distinguish diesel fuel intended for heating from a higher- taxed motor diesel fuel. It is added to fuels not intended for motor vehicles in amounts of 6 mg/l, or 7 mg/kg, under the name Euromarker. ...more on Wikipedia about "Solvent Yellow 124"
Stamp duty is a form of tax that is levied on documents. Typically, a physical stamp must be attached to or impressed upon the document to denote that stamp duty has been paid before the document becomes legally effective. ...more on Wikipedia about "Stamp duty"
State income tax is an income tax in the United States that is levied by each individual state. Some states choose to impose no income tax. These states are Texas, Florida, Washington, Nevada, South Dakota, Alaska, and Wyoming. Additionally, Tennessee and New Hampshire limit their state income taxes to dividends and interest income only. As of 2005, the highest rate of state income tax is that of Montana, with a max rate of 11%. Of those states which enforce income tax, the lowest maximum rate is that of Illinois, which levies a flat tax of 3%. Most states have a progressive income tax, where the rate rises as an income gets larger. In California, for instance, the rate begins at 1% at $6,000 in income and rises to 9.3% over $39,000 in income. ...more on Wikipedia about "State income tax" Are you ready for shortopedia? Taxation
Stealth Tax is a term used for revenue from sources controlled by a Government, that is not classed as tax, but still used by the Government to fund public services. ...more on Wikipedia about "Stealth tax"
Succession duty, in the English fiscal system, "a tax placed on the gratuitous acquisition of property which passes on the death of any person, by means of a transfer from one person (called the predecessor) to another person (called the successor)." In order properly to understand the present state of the English law it is necessary to describe shortly the state of affairs prior to the Finance Act 1894--an act which effected a considerable change in the duties payable and in the mode of assessment of those duties. ...more on Wikipedia about "Succession duty"
Supply-side economics is a school of macroeconomic thought which emphasizes the importance of taxation and business incentives in encouraging economic growth, in the belief that businesses and individuals will use their improved terms of trade to create new businesses and expand old businesses, which in turn will increase productivity, employment, and general well-being. While all macroeconomics involves both supply and demand, supply-side economics emphasizes the importance of encouraging increases in supply. It was popularised in the 1970s by the ideas of Robert Mundell, Arthur Laffer, and Jude Wanniski. The term was coined by Wanniski in 1975. ...more on Wikipedia about "Supply-side economics"
A tariff is a tax on imported goods. When a ship arrives in port a customs officer inspects the contents and charges a tax according to the tariff formula. Since the goods cannot be landed until the tax is paid., it is the easiest tax to collect, and the cost of collection is small. Smugglers of course seek to evade the tariff. ...more on Wikipedia about "Tariff"
A tax is a compulsory charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e.g., tribes, secessionist movements or revolutionary movements). Taxes could also be imposed by a subnational entity. ...more on Wikipedia about "Tax"
Tax advantage refers to the economic bonus which applies to certain accounts or investments that are, by statute, tax-reduced, tax-deferred, or tax-free. The most obvious examples are Retirement plans, but investments in many state or municipal bonds can also be exempt from certain taxes. Governments establish the tax advantaged status of these investments to encourage private individuals to contribute money when it is considered to be in the public interest. ...more on Wikipedia about "Tax advantage"
Tax amnesty is a limited-time opportunity for individuals and businesses to pay past-due income, franchise, sales, or use taxes and the related interest – free of most penalties and fees (and interest on penalties and fees) and without fear of criminal prosecution. It typically expires when some authority begins an investigation of the past-due tax. ...more on Wikipedia about "Tax amnesty" It's time to think about shortopedia.
This article contrasts tax avoidance, tax evasion, tax mitigation, tax fraud, tax resistance and tax protest. ...more on Wikipedia about "Tax avoidance and tax evasion"
Tax brackets are the divisions at which tax rates change in a progressive tax system (or an explicitly regressive tax system, although this is much rarer). Essentially, they are the cutoff values for taxable income — income past a certain point will be taxed at a higher rate. ...more on Wikipedia about "Tax bracket"
Tax competition is a governmental strategy of attracting foreign direct investment and high value human resources by minimizing the overall taxation level. ...more on Wikipedia about "Tax competition"
Tax consolidation is a regime adopted in the tax or revenue legislation of a number of countries which treats a group of wholly-owned or majority-owned companies and other entities (such as trusts and partnerships) as a single entity for tax purposes. This generally means that the head entity of the group is responsible for all or most of the group's tax obligations (such as paying tax and lodging tax returns). ...more on Wikipedia about "Tax consolidation"
A tax cut is a reduction in the rate of tax charged by a government, for example on personal or corporate income. Whether a given tax cut will increase or decrease total tax revenues is much discussed by both economists and politicians. ...more on Wikipedia about "Tax cut"
A tax deduction or a tax-deductible expense, is an item which is subtracted from gross income in order to arrive at the taxable income. ...more on Wikipedia about "Tax deduction"
A tax exemption is an exemption to the tax law of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead foregone. ...more on Wikipedia about "Tax exemption"
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Tax Freedom Day is the first day of the year in which a nation as a whole has earned enough income to pay its annual tax burden. The concept was introduced by the Tax Foundation—a Washington D.C.-based tax research group—as a tool for illustrating the proportion of national income diverted to fund the annual cost of government. ...more on Wikipedia about "Tax Freedom Day"
A tax haven is a place where certain taxes are levied at a low rate or not at all. At times this is a tool to lure business and conglomerates to areas that would normally be considered out of the way, and overlooked in most global trade. Often times among tax havens, different jurisdictions tend to be havens for different types of taxes, and for different categories of people and/or companies. ...more on Wikipedia about "Tax haven"
A tax holiday is a temporary reduction or elimination of a tax. Governments usually create tax holidays as incentives for business investment. The taxes that are most commonly reduced by national and local governments are sales taxes. In developing countries, governments sometimes reduce or eliminate corporate taxes for the purpose of attracting FDI or stimulating growth in selected industries. ...more on Wikipedia about "Tax holiday"
====Who pays the tax burden==== ...more on Wikipedia about "Tax incidence"
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