2.02 I can understand types of tax

Jeremy Hargrave

Income tax

A tax on earned and unearned income. The first income tax in the United States was implemented in 1861 to help the federal government cover the costs of the Civil War, according to the Library of Congress.

Payroll tax

A tax on earned income. Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.

Property tax

A tax on property, such as land, buildings (including homes), and automobiles. This tax may be imposed on real estate or personal property.

Sales tax

A tax on purchased goods and services. In the United States, a local option sales tax is a special purpose tax implemented and levied at the city or county level.

Excise tax

Taxes collected from the seller or retailer and as such often remain "hidden" in the price of a product or service, rather than being listed separately. Excise taxes are levied on specific goods and are paid by consumers when they purchase those items
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