Government Finance

Official or legal permission to engage in a regulated activity: "He believed that the subcommittee gave him license to interrogate anyone about any possible links to communism" (Donald A. Ritchie).

Paying taxes is surely everyone's least favorite government-related activity. But taxing citizens is one of the concurrent powers of government. Federal, state, and local levels all have the power to tax.

Democrats are warning the GOP to avoid "poison-pill riders."

A property tax (or millage tax) is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This is in contrast to a rent and mortgage tax, which is based on a percentage of the rent or mortgage value.

Property tax is a levy issued by a government on a person's real or personal property.

An income tax is a government levy (tax) imposed on individuals or entities (taxpayers) that varies with the income or profits (taxable income) of the taxpayer. Details vary widely by jurisdiction. Many jurisdictions refer to income tax on business entities as companies tax or corporate tax.

Federal receipt composition amount and historical composition amount.

Definition of income tax: Annual charge levied on both earned income (wages, salaries, commission) and unearned income (dividends, interest, rents).

A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow (or require) the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption of certain goods or services from sales and use tax.

In the United States, most of its 50 States assess a sales tax, which is a tax on sales to the end user. For example, in the state of Wisconsin a retailer must collect a 5% sales tax and perhaps another 0.5% for a county sales tax on specified goods and services. The retailer must remit the sales taxes collected within a prescribed time period.