ACCT616 Advanced Federal Taxation
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As per the course ACCT616 Advanced Federal Taxation, in the United States, a share (in %) of all the income that is earned by a person or organization (Business) and spend is collected by federal, local and state governments for use in public facilities. Various kinds of taxes that Individuals and businesses are required to pay are sales tax, property tax, payroll tax, and income tax.
Also under the course ACCT616 Advanced Federal Taxation the advanced federal income tax is built on a progressive tax system, where the highest tax is charged from the higher income earners. On the other hand the Taxpayers who do not earn enough an annual threshold set by the government would pay little to no tax.
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