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Proportional Tax
A proportional tax is a tax imposed so that the tax rate is fixed, with no change as the taxable base amount increases or decreases. The amount of the tax is in proportion to the amount subject to taxation. "Proportional" describes a distribution effect on income or expenditure, referring to the way the rate remains consistent (does not progress from "low to high" or "high to low" as income or consumption changes), where the marginal tax rate is equal to the average tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA It can be applied to individual taxes or to a tax system as a whole; a year, multi-year, or lifetime. Proportional taxes maintain equal tax incidence regardless of the ability-to-pay and do not shift the incidence disproportionately to those with a higher or lower economic well-being. Althou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Rate
In a tax system, the tax rate is the ratio (usually expressed as a percentage) at which a business or person is taxed. The tax rate that is applied to an individual's or corporation's income is determined by tax laws of the country and can be influenced by many factors such as income level, type of income, and so on. There are several methods used to present a tax rate: statutory, average, marginal, flat, and effective. These rates can also be presented using different definitions applied to a tax base: inclusive and exclusive. Statutory A statutory tax rate is the legally imposed rate. An income tax could have multiple statutory rates for different income levels, where a sales tax may have a flat statutory rate. The statutory tax rate is expressed as a percentage and will always be higher than the effective tax rate. Average An average tax rate is the ratio of the total amount of taxes paid to the total tax base (taxable income or spending), expressed as a percentage. Averag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an Indo-European word stem. The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics, yet the meaning of wealth is context-dependent. A person possessing a substantial net worth is known as ''wealthy''. Net worth is defined as the current value of one's assets less liabilities (excluding the principal in trust accounts). At the most general level, economists may define wealth as "the total of anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various people in different contexts.Denis "Authentic Development: Is it Sustainab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mongolia
Mongolia is a landlocked country in East Asia, bordered by Russia to the north and China to the south and southeast. It covers an area of , with a population of 3.5 million, making it the world's List of countries and dependencies by population density, most sparsely populated sovereign state. Mongolia is the world's largest landlocked country that does not border an Endorheic basin, inland sea, and much of its area is covered by grassy steppe, with mountains to the north and west and the Gobi Desert to the south. Ulaanbaatar, the capital and List of cities in Mongolia, largest city, is home to roughly half of the country's population. The territory of modern-day Mongolia has been ruled by various nomadic empires, including the Xiongnu, the Xianbei, the Rouran, the First Turkic Khaganate, the Second Turkic Khaganate, the Uyghur Khaganate and others. In 1206, Genghis Khan founded the Mongol Empire, which became the largest List of largest empires, contiguous land empire i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greenland
Greenland is an autonomous territory in the Danish Realm, Kingdom of Denmark. It is by far the largest geographically of three constituent parts of the kingdom; the other two are metropolitan Denmark and the Faroe Islands. Citizens of Greenland are full Danish nationality law, citizens of Denmark and European Union citizenship, of the European Union. Greenland is one of the Special territories of members of the European Economic Area#Overseas countries and territories, Overseas Countries and Territories of the European Union and is part of the Council of Europe. It is the List of islands by area, world's largest island, and lies between the Arctic Ocean, Arctic and Atlantic oceans, east of the Arctic Archipelago, Canadian Arctic Archipelago. It is the location of the northernmost point of land in the world; Kaffeklubben Island off the northern coast is the world's Northernmost point of land, northernmost undisputed point of land—Cape Morris Jesup on the mainland was thought to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utah
Utah is a landlocked state in the Mountain states, Mountain West subregion of the Western United States. It is one of the Four Corners states, sharing a border with Arizona, Colorado, and New Mexico. It also borders Wyoming to the northeast, Idaho to the north, and Nevada to the west. In comparison to all the U.S. states and territories, Utah, with a population of just over three million, is the List of U.S. states and territories by area, 13th largest by area, the List of U.S. states and territories by population, 30th most populous, and the List of U.S. states by population density, 11th least densely populated. Urban development is mostly concentrated in two regions: the Wasatch Front in the north-central part of the state, which includes the state capital, Salt Lake City, and is home to roughly two-thirds of the population; and Washington County, Utah, Washington County in the southwest, which has approximately 180,000 residents. Most of the western half of Utah lies in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pennsylvania
Pennsylvania, officially the Commonwealth of Pennsylvania, is a U.S. state, state spanning the Mid-Atlantic (United States), Mid-Atlantic, Northeastern United States, Northeastern, Appalachian, and Great Lakes region, Great Lakes regions of the United States. It borders Delaware to its southeast, Maryland to its south, West Virginia to its southwest, Ohio and the Ohio River to its west, Lake Erie and New York (state), New York to its north, the Delaware River and New Jersey to its east, and the Provinces and territories of Canada, Canadian province of Ontario to its northwest via Lake Erie. Pennsylvania's most populous city is Philadelphia. Pennsylvania was founded in 1681 through a royal land grant to William Penn, the son of William Penn (Royal Navy officer), the state's namesake. Before that, between 1638 and 1655, a southeast portion of the state was part of New Sweden, a Swedish Empire, Swedish colony. Established as a haven for religious and political tolerance, the B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North Carolina
North Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, South Carolina to the south, Georgia (U.S. state), Georgia to the southwest, and Tennessee to the west. The state is the List of U.S. states and territories by area, 28th-largest and List of U.S. states and territories by population, 9th-most populous of the List of states and territories of the United States, United States. Along with South Carolina, it makes up the Carolinas region of the East Coast of the United States, East Coast. At the 2020 United States census, 2020 census, the state had a population of 10,439,388. Raleigh, North Carolina, Raleigh is the state's List of capitals in the United States, capital and Charlotte, North Carolina, Charlotte is its List of municipalities in North Carolina, most populous and one of the fastest growing cities in the United States. The Charl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mississippi
Mississippi ( ) is a U.S. state, state in the Southeastern United States, Southeastern and Deep South regions of the United States. It borders Tennessee to the north, Alabama to the east, the Gulf of Mexico to the south, Louisiana to the southwest, and Arkansas to the northwest. Mississippi's western boundary is largely defined by the Mississippi River, or its historical course. Mississippi is the List of U.S. states and territories by area, 32nd largest by area and List of U.S. states by population, 35th-most populous of the 50 U.S. states and has the lowest per-capita income. Jackson, Mississippi, Jackson is both the state's List of capitals in the United States, capital and largest city. Jackson metropolitan area, Mississippi, Greater Jackson is the state's most populous Metropolitan statistical area, metropolitan area, with a population of 591,978 2020 United States census, in 2020. Other major cities include Gulfport, Mississippi, Gulfport, Southaven, Mississippi, South ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michigan
Michigan ( ) is a peninsular U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, Upper Midwestern United States. It shares water and land boundaries with Minnesota to the northwest, Wisconsin to the west, Indiana and Illinois to the southwest, Ohio to the southeast, and the Canadian Provinces and territories of Canada, province of Ontario to the east, northeast and north. With a population of 10.14 million and an area of , Michigan is the List of U.S. states and territories by population, 10th-largest state by population, the List of U.S. states and territories by area, 11th-largest by area, and the largest by total area east of the Mississippi River.''i.e.'', including water that is part of state territory. Georgia (U.S. state), Georgia is the largest state by land area alone east of the Mississippi and Michigan the second-largest. The state capital is Lansing, Michigan, Lansing, while its most populous city is Detroit. The Metro Detroit r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kentucky
Kentucky (, ), officially the Commonwealth of Kentucky, is a landlocked U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders Illinois, Indiana, and Ohio to the north, West Virginia to the northeast, Virginia to the east, Tennessee to the south, and Missouri to the west. Its northern border is defined by the Ohio River. Its capital is Frankfort, Kentucky, Frankfort and its List of cities in Kentucky, most populous city is Louisville, Kentucky, Louisville. As of 2024, the state's population was approximately 4.6 million. Previously part of Colony of Virginia, colonial Virginia, Kentucky was admitted into the Union as the fifteenth state on June 1, 1792. It is known as the "Bluegrass State" in reference to Kentucky bluegrass, a species of grass introduced by European settlers which has long supported the state's thoroughbred horse industry. The fertile soil in the central and western parts of the state led to the development ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Indiana
Taxes in Indiana are almost entirely authorized at the state level, although the revenue is used to fund both local and state level government. The state of Indiana's income comes from four primary tax areas. Most state level income is from a sales tax of 7% and a flat state income tax of 3.05%. The state also collects an additional income tax for the 92 counties. Local governments are funded by a property tax that is the sum of rates set by local boards, but the total rate must be approved by the Indiana General Assembly before it can be imposed. Residential property tax rates are capped at maximum of 1% of property value. Excise tax is the fourth form of taxation and is charged on motor vehicles, alcohol, tobacco, gasoline, and certain other forms of movable property; most of the proceeds are used to fund state and local roads and health programs. The Indiana Department of Revenue collects all taxes and pays them out to the appropriate agencies and municipalities. The Indiana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illinois
Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. It borders on Lake Michigan to its northeast, the Mississippi River to its west, and the Wabash River, Wabash and Ohio River, Ohio rivers to its south. Of the fifty U.S. states, Illinois has the List of U.S. states and territories by GDP, fifth-largest gross domestic product (GDP), the List of U.S. states and territories by population, sixth-largest population, and the List of U.S. states and territories by area, 25th-most land area. Its capital city is Springfield, Illinois, Springfield in the center of the state, and the state's largest city is Chicago in the northeast. Present-day Illinois was inhabited by Indigenous peoples of the Americas#History, Indigenous cultures for thousands of years. The French were the first Europeans to arrive, settling near the Mississippi and Illinois River, Illinois rivers in the 17th century Illinois Country, as part of their sprawling colony of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
