Value added tax

said, Abraham lincoln signed a bill in which the percent taxed would keep increasing depending on the amount of income made. In 1872 the bill was repealed and declared unconstitutional. Now that you know a little bit of how our nation's first income tax came out to be let's get into detail of how that sets the base of how we do taxes now in present time. First off, many of y’all have at least asked yourself this question at one point in your life, “ Why do I pay taxes?”. Well, I’m going to…

but if there is one lesson to take from America’s history, it is that taxation (or a mechanism to raise revenue in general) is vital to a healthy and functioning government. It is a necessary evil. Even though taxation may be necessary, the income tax…

Understanding the US taxation system The US tax system is setup on both the federal and the state level. There are several taxes which the people of US have to face they are income tax, capital gains, sales tax. The federal tax and the state tax are two different taxation systems, where the state tax has other divisions too under the various states payment system. Each state has its own taxation system which is different from the other states and the state does not interferes in the taxation…

of sales and use tax. After defining the purpose and background information of sales and use tax, it will set up a course to explain nexus and the relationship with multistate taxation. Corporations have to must face apportionment to determine the value of state tax for each state. Some corporations produce enormous sums of interest income, which may be taxed. Planning for multistate taxation can benefit for the taxpayer payer but not for the government due to the lowered state tax burden. The…

Fire Departments across the nation occupy a precarious financial position; their budgets rise and fall as the local tax base expands or contracts. At the same time, local citizens demand, at a minimum, that the fire department provide the same level of service from year to year. Not only does this stress day-to-day operations, it also makes it nearly impossible to meet regulatory requirements or forecast long term capital purchases. Executive Fire Officers are forced to find creative solutions…

There is not a consensus agreement on a fair tax code that would impact everyone equally. Politicians use the tax code as a weapon to garner votes by punishing a small minority to the delight of the majority. Tax breaks are given to certain businesses for political support and campaign contributions. Against this backdrop it is understandable that the American public is disillusioned with the tax code, and politicians’ in-general. The complexity of the tax code assures that a segment of the…

butts and fix the tax code, in order for everybody to pay their fair share, rather than shifting the cost of higher taxes to the middle class. Political leaders often appeal to the middle class during the campaign season. I remember a…

There are a couple of different approaches that can be taken to determine a property’s market value. The first important step to finding values of properties is making sure you understand the real estate market you are selling it. By knowing the area and what types of properties sell in these areas, it gives to person assessing the property a better view of what the seller is able to get for the property in question. These people would know what people in the area are looking for in their homes…

should not feel like an expensive burden for a woman. The tampon tax is a sales tax on tampons and other feminine products. Every month from ages 12 to about 50 us woman need these products and on average a package of tampons cost 7-10 dollars plus tax. According to BBC news…

CROSS-BORDER SHOPPING FROM WASHINGTON STATE TO OREGON STATE Introduction Tax policy is one strategy that states have to increase their competitiveness. From the 50 states nationwide, only five states do not impose sales tax or have a 0% sales tax rate; they are Alaska, Delaware, Montana, New Hampshire and Oregon. Without sales tax, people can buy in these five states without spending extra money on tax and they can have extra ‘money’ for saving or spending on other goods. Compared to some other…