Taxation 101

Corporate Income Taxes

Governments at the federal and state levels levy a corporate income tax (CIT) on business profits, which are calculated as revenues (what a company makes in sales) minus costs (the cost of doing business). Businesses in the United States are

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September 26, 2022 3 Comments

Personal tax (Income tax)

Individual income taxes (or personal income taxes) are levied on earnings, salaries, investments, or other sources of income earned by an individual or household. Many individual income taxes are “progressive,” which means that the tax rate rises as the taxpayer’s

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September 26, 2022 4 Comments
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