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10 Cards in this Set
- Front
- Back
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Income tax |
Tax levied by a government directly on income, annual tax on personal income. |
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Proportional tax |
Tax imposed so that the tax rate is fixed, with no change as the taxable base amount |
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Progressive tax |
A tax in which the tax rate increases as the taxable amount increases |
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Excise tax |
Taxes paid when purchases made on a specific good, such as gasoline |
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Corporate tax |
A levy placed on the profit of a firm to raise taxes |
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Sales tax |
A tax on sales |
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Property tax |
Levied by the gov. Authority of the jurisdiction in which the property is located |
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Bond |
An amount on check put into a banking account |
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Federal reserve |
Founded by the u.s congress in 1913 to provide the nation with a safe, flexible, and stable monetary |
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IRS |
A bureau of the department of treasury that is tasked with the enforcement of income tax laws and oversees federal income taxes. |
