Donate SIGN UP

what is the rate of income tax in the usa?

Avatar Image
bubbles4920 | 01:04 Sat 12th May 2007 | Business & Finance
3 Answers
what is the rate of income tax in the usa? also there seems to be tax on everything, how do i find out before i buy something over there?
Gravatar

Answers

1 to 3 of 3rss feed

Best Answer

No best answer has yet been selected by bubbles4920. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Sales tax is applied to anything you purchase and it can be different depending on which state you live in and also which community within the state you live in, 2% to 10% - the place I go to regularly is about 8%. Someone else will have to answer about income tax, all I know is you have to work it out yourself and fill in a tax return
It appears that Federal Income Tax is based on bands ranging from 10% to 35%...

http://www.moneychimp.com/features/tax_bracket s.htm

There is also a Payroll Tax which seems to be somewhat equivalent to NI, i.e. "a contribution to Social Security and Medicare: 15.3% of your salary, up to a limit, half of which is paid by your employer."

Income tax law: an overview...
http://www.law.cornell.edu/wex/index.php/Incom e_tax
We pay tax on most things we buy - it's called VAT. You just don't notice it the same because it is already included in the sale price. In the States it is not on the sale price because each state has different sales tax.

1 to 3 of 3rss feed

Do you know the answer?

what is the rate of income tax in the usa?

Answer Question >>

Related Questions

Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.