Annual tax levied by the Federal government, most states, and some local governments,...
Direct tax levied on income, whether earned or unearned.
The annual tax on income that is levied by the federal government and by certain state and local governments.
"Income tax" represents the amount paid in federal and provincial taxes, while "Income after tax" is defined as total income minus income tax paid. (Source: 1996 Census Dictionary, Cat. No. 92-351-XPE, Statistics Canada)
is the amount of income paid to the Commonwealth Government which is used to meet its expenses.
These are taxes on income, both earned income (salaries, wages, tips, commissions) and unearned income (interest from savings accounts, dividends if you hold stock). Individuals and businesses are subject to income taxes.
Income tax is the tax chargeable on the income a UK resident earns in any one tax year.
A tax that is levied on income that a person or business earns.
The main source of revenue for the federal government and many Provinces. The tax is based on your earned and unearned income. The amount or percentage taxed is based on the amount of income, using the governments graduated tax scale.
A tax on the income you receive. For 1999/2000, there are five different rates of income tax (10%, 20%, 23%, 32.5% and 40%) based on how much income you earn and from what source.
A federal, and in some cases state, tax placed upon individuals, corporations, and businesses based on the amount of taxable income reported in any given year.
Tax paid on any income earned over your personal allowance (£4,195 for the 1998/99 tax year). The first £4,300 of taxable earnings incurs 20 per cent tax, from £4,301 to £27,100 incurs 23 per cent tax, and over £27,100 incurs 40 per cent tax
Income tax is payable on any income, whether it's derived from working or investment. Every person however can earn a certain amount of money each year before tax kicks in. This is the Personal Allowance.
tax on people's income, and also on business profits in the US.
You pay this tax according to how much income you have under various categories.
Income tax under the Income Tax Act 1994
one levied on individual and corporate income
(Stocks) The amount of taxes, deferred and current, owed by the firm (or, in the case of an Income Tax Benefit, owed to the firm).
tax paid on income within a given financial year (April-April).
A government charge on earnings.
This tax is payable by almost all earners, and is charged at different levels depending on how much you earn. The top level of income tax, payable by those earning more than £27000 is 40 per cent. The basic rate is 22 per cent.
a direct tax
a double tax on saving
an Inclusive Tax
a tariff, so are property, payroll, sales and every other tax," writes Stelzer
a tax on revenue not on capital
a tax that is based one the amount of money earned by an individual
a tax which relates to product or income from property or from business pursuits
The tax a taxpayer must pay on his or her taxable income. Taxable income equals a taxpayer's adjusted gross income minus all allowable deductions.
an aggregate tax, whereby the liability is arrived at by considering the aggregate result after adding up all items of assessable income and subtracting all allowable deductions. Income tax imposes a personal liability on the person who derives the income. Thus, personal identity is extremely important. In cases of a taxpayer defaulting on payment of income tax, the identity, whereabouts and financial position of the taxpayer are all relevant. (p. 216)
Tax payable to H.M Treasury on income within the financial year. Calculated from April-April.
That part of taxable income which a person or corporation is required to forward to Revenue Canada Periodically.
Tax you pay on any income that you have, such as your salary or wages.
A government tax charged on what a person earns from work each year. The amount of income tax paid is dependent on how much is earned and certain other entitlements and exemptions. See also:Tax
(added July 2002) Individuals, trustees and personal representatives are potentially liable to income tax. Companies pay corporation tax on profits and gains, but may also pay income tax (e.g. on certain investment income). Income tax is paid on taxable income of the tax (or 'fiscal') year, which runs from 6 April to the following 5 April. Individuals (men, women and children) are broadly chargeable to income tax, on UK and overseas income if they are UK resident, subject to certain exceptions if they are not ordinarily resident or non UK domiciled. Non-residents are generally liable to income tax on income arising in the UK. Double tax relief may generally be claimed if the same income is taxable in the UK and a foreign country. Taxable income is broadly calculated by adding together amounts under different categories (known as 'Schedules' and 'Cases'), reducing this total by allowable deductions and personal allowances if appropriate, applying income tax rates to that taxable income, and reducing the tax so calculated by certain other deductions and allowances (if applicable).
This is the tax levied on individual income from various sources like salaries, investments or interest.
Tax payable on income earned.
Tax levied on the income of a person or a business.
Income tax is payable on any income, whether it comes from working or an investment.
A tax assessed on income or gain made by an individual or entity.
Tax paid by individuals on their income
A tax payable to on any income you receive from earnings, investments and savings.
A tax on income. Income tax is normally zero on some bands of small incomes, both on equity grounds and because of the expense of collecting tiny amounts of tax. It is then normally proportional up to some upper limit; income beyond this is taxed at higher rates. Thus income tax is usually progressive. An individual's taxable income is calculated after deducting various allowances, in respect of assorted items which may include mortgage interest payable, charitable donations, responsibility for dependents, age allowances, medical insurance, and superannuation contributions. Income for tax purposes may include or exclude imputed items such as the value of the services of owner-occupied houses. Capital gains may be included as income, excluded, or taxed separately from income. Income tax may be collected from individuals in arrears, or by deduction at source through pay-as-you-earn (PAYE) in the UK, or a withholding tax on incomes from employment and payment of dividends net of tax by companies, in the US.
A government tax that is levied on an individual's income (both earned and unearned). It can be deducted at source (eg: PAYE) or calculated and paid via a tax return.
Tax payable on income - for example on dividends relating to your shareholdings.
An assessment levied by government on the net income of individuals and businesses.
money that wage earners pay the government to run the country. The amount of the tax depends upon how much you earn.
Tax levied on taxable income. PA Income Tax
a tax on money received. Income taxes are used primarily by the federal government and some states.
income tax - malignant pleural mesothelioma.
This is tax you pay on the income you earn each year above a certain amount. As well as your salary, income tax is also charged on interest and dividends you receive. The amount of tax you pay depends on the amount of money you earn and on your allowances.
a tax levied on annual income of an individual.
This a percentage of your earnings that is taken by the government to pay for national services. The amount depends on how much you earn and is graded by earning bands.
a tax levied by the federal and provincial governments on all forms of personal and corporate income.
refers to the tax levied on individual income from various sources like salaries, investments, interest, etc.
a percentage of the income you earn each year that must be paid to the federal and provincial governments to pay for government services
A tax payed to the country assessed on gain made by individuals or firms.
A payment to federal, state, and local governments based on individual or company earnings.
Tax paid by individuals on income received over a certain threshold. The amount paid will depend on the amount earned and unearned during a tax year period.
A system of taxation based on earnings from employment, profits from self employment, income received from investments and capital gains from the sale of property. The U.S. income tax system permits numerous exemptions, exclusions and deductions and utilizes a graduated tax rate structure ranging from a bottom rate of 10% to a top rate of 35%.
Tax paid on earned and unearned income by UK investors.
A tax on any money earned during a fiscal year, usually filed on a yearly basis. All businesses except partnerships must file an annual income tax return. Partnerships file an information return.
Tax which is deducted from taxable income in accordance with the taxation laws Related links: Taxation
An income tax is a tax levied on the financial income of persons, corporations, or other legal entities. Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive.