Explore tens of thousands of sets crafted by our community.
Types of Taxes
20
Flashcards
0/20
Carbon Tax
A tax levied on fossil fuels to reduce carbon dioxide emissions.
Wealth Tax
A tax on an individual's net worth.
Alternative Minimum Tax (AMT)
A supplemental income tax required from certain taxpayers in addition to baseline income tax.
Gift Tax
A tax on the transfer of money or property from one individual to another without receiving something in return.
Inheritance Tax
A tax paid by a person who inherits money or property or a levy on the estate of a person who has died.
Excise Tax
An indirect tax charged on the sale of a particular good.
Value Added Tax (VAT)
A tax on the amount by which the value of an article has been increased at each stage of its production or distribution.
Consumption Tax
Taxes on goods and services only when they are consumed.
Income Tax
A tax on individual earnings from employment and investments.
Sales Tax
A consumption tax imposed on the sale of goods and services.
Estate Tax
A tax on the transfer of the estate of a deceased person.
Corporate Tax
A tax on the profits of corporations.
Sin Tax
A tax on items seen as undesirable or harmful, such as tobacco or alcohol.
Payroll Tax
Taxes imposed on employers and employees, usually calculated as a percentage of the salaries that employers pay their staff.
Property Tax
A tax assessed on real estate by the local government and paid by the property owner.
Luxury Tax
A tax on products not considered essential, such as expensive cars or jewelry.
Capital Gains Tax
A tax on the profit realized on the sale of a non-inventory asset that was purchased at a lower price.
Stamp Duty
A tax on documents typically in the transfer of assets or property.
Import Duty
A tax collected on imports and some exports by the customs authorities of a country.
Tariff
A tax imposed on imported goods and services.
© Hypatia.Tech. 2024 All rights reserved.