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Explaining U.S. taxation
In the United States of America, it is important to be wary of the U.S. taxation laws. The taxes are implemented at various levels as it is federal republic with various state and local governments. They fall mainly under labour income and are imposed on the net income of an individual. There are a number of taxes imposed on each individual and all these tax rates differ in many areas. In 2013, the tax rate of federal taxes varied between 10% to 39.6%. Thus, to be better informed about this system and its rates it is imperative to ask for US taxation homework help.
The system of U.S. taxation
In U.S., the system of taxation is progressive, which means with increasing income the percentage of taxes paid by an individual will also increase. This means they individuals with a higher income not only pay more taxes, but also pay at a higher tax rate. The taxes collected back in 2010 by several federal, municipal as well the state amounted to 24.8% GDP. Thus, U.S taxation is important and to understand it better it is necessary to opt for US taxation homework help.
What are the types?
The reason why students are forced to cram and give up and opt for US taxation assignment help is because of the various types that are present and which they have to retain and solve problems on. Also, the law are pretty difficult all at once which makes it difficult for the university goers to complete an assignment on it at one go. Listed below are some of the common and important taxes in U.S:
- Income tax
- Federal income tax
- Gift tax
- Property tax
- Alcohol tax
- Sales tax
- Estate tax
- Gift tax
- Hotel tax
- Tobacco tax
- Occupational tax
- Payroll tax
- Custom duties
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