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Tax Base and Tax Rate
Transcript of Tax Base and Tax Rate
By- Gabi Sleeman
April 15 - Everyone has to turn in their taxes by this date!
113 Days - Tax Freedom Day.
most citizens make enough income to pay off all their taxes for the year
Fun Fact: 1/3 of all income goes to taxes.
All taxes consist of two elements:
The good/Thing which is taxed.
Ex- personal income, goods, property
the percentage of one´s income, or value of a good, service, or asset that is paid in tax
Taxes originate from their tax base
income tax is from personal income.
Examples - Personal income or property
if the tax rate is
and the then the taxed individual will have to pay an amount
to 20% of their income
What is the meaning behind TAX freedom day?
IF someone pays a Property tax, what is their tax base?