Encyclopedia > Income tax

Article Content

Income tax

Income tax is a direct tax which is levied on the income of private individuals. Various income tax systems exist. Those range from a flat tax to an extensive progressive tax[?] system.

Taxes levied on the income of companies is called corporate tax[?].

see also tax return, Tax Freedom Day

All Wikipedia text is available under the terms of the GNU Free Documentation License

Search Encyclopedia

Search over one million articles, find something about almost anything!

Featured Article

Quadratic formula

... square trinomial of the form x2 + 2xy + y2. Since "2xy" in this case is (b/a)x, we must have y = b/(2a), so we add the square of b/(2a) to both sides, ...