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9 Cards in this Set
- Front
- Back
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Tax |
Required payment to a local, state, or national gov |
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Revenue |
Income received by a gov from taxes and other no tax sources |
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Tax base |
The income, property, good, or service that is subject to a tax |
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Property tax |
Value of a property |
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Corporate income tax |
Value of a company profits |
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Proportional tax |
Percentage of income paid in taxes remains the same |
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Progressive tax |
Tax for which the percentage of income paid in taxes increased as income increases |
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Incidence of a tax |
Final burden of a tax |
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Regressive tax |
A tax that takes a larger percentage from low-income people than from high-income people. |
