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11 Cards in this Set
- Front
- Back
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Tax |
Required payment to a local state or national government |
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Revenue |
Income reviewed by. Government from taxes and non tax sources |
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Tax base |
Income property good or service that's subject to a tax |
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Individual income tax |
Tax on a person's earnings |
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Sales tax |
Tax on the dollar value of a good or service being sold |
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Property tax |
Tax on the value of a property |
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Corporate income tax |
Tax on the value of a company's profits |
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Proportional tax |
tax for which the percentage of income paid in taxes remains the same for all income levels |
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Progressive tax |
Tax for which the percentage of income paid in taxes increases as income increases |
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Regressive tax |
Tax for which the percentage of income paid in taxes decreases as income increases |
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Incidence of a tax |
The final burden of a tax |
