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Although both are obligated to pay the same ... Both the employer and the employee are subject to monthly payroll taxes from the employee ... 7,08% [11] 2016: 29,753 ...
Regressive taxes are implemented in the United States primarily through sales taxes, excise taxes, and payroll taxes. [48] Sales taxes are imposed by state and local governments on goods and services, impacting lower-income individuals more as they spend a larger portion of their income on necessities subject to these taxes.
Forty-three states impose a tax on the income of individuals, sometimes referred to as personal income tax. State income tax rates vary widely from state to state. States imposing an income tax on individuals tax all taxable income (as defined in the state) of residents. Such residents are allowed a credit for taxes paid to other states.
The most important revenue sources are the income tax, social security, value-added tax and corporate tax, and are all collected by the central government. Income tax is levied on a progressive rate. Current brackets vary from 0% to 35% in the tax rates for 2014. [2] Furthermore, various tax allowances apply for trade union fees, donation to ...
The government sets the tax rate according to income, but the regions can add an additional 0.7 percent to 3.33 percent. In addition to the regional income tax, a municipal income tax can be levied which ranges from 0.1 percent to 0.9 percent. Municipalities can also establish progressive tax rates applicable to the national income bracket. [2]
Individual income tax: 691 829 Corporate income tax: 190 189 Social Security and other payroll tax: 558 572 Excise tax: 61 58 Estate and gift taxes: 19 24 Customs duties: 18 18 Other miscellaneous receipts 30 33 Total: 1,567: 1,722
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