The import tax from China to the United States varies based on the product. For instance, the maximum amount of tariff for imported eel products is 16 percent, while the same maximum for imported zinc oxide is 5.5 percent.Continue Reading
The World Trade Organization determines the maximum amount of tariff that can be charged on any item, and this number is referred to as the final bound rate. However, simply because the final bound rate on a certain item is a certain number does not mean that the United States government actually taxes that item at that rate.
Many items can be imported from China to the United States without being charged any duty or tariff. There are online calculators that show how much the tariff is on any given item. These calculators require the product's category, the amount of shipping and the value of any insurance bought for the shipping.
For instance, if one were importing a motorcycle crash helmet that was valued at $100, that person would not have to pay any import tax on it. In contrast, if one were importing a 100-year-old antique worth $10,000, that person would not have to pay any import tax but may have to pay a $34.63 merchandise processing fee.Learn more about Taxes
Inheritance, or estate, tax rates do not favor the wealthy in the United States. Owing to a high estate tax exemption threshold, only the very wealthy have to pay any estate tax at all, sometimes amounting to less than 1 percent of all estates. As of 2015, only estates worth in excess of $5.43 million are taxable, typically at a rate of 35 to 55 percent.Full Answer >
The five states in the United States that do not have a state-level sales tax as of 2014 are Alaska, Delaware, Montana, New Hampshire and Oregon. However, Alaska does have local-level sales tax in some cities, and Delaware does apply a tax on business purchases.Full Answer >
State tax forms vary based on the type and amount of taxes that specific jurisdictions impose; some states in the United States have tiered tax brackets with taxes adjusted to income levels, while others have a single tax rate for all citizens and some have no income tax at all. When establishing income tax levels, states generally follow the federal standards, states TaxPolicyCenter.org. However, they may impose alternative tax rules that control what percentage and type of income qualifies for taxation.Full Answer >
A tax jurisdiction in the United States is geographical and refers to any place within the U.S. or land the U.S. owns that is legally allowed to charge taxes, notes USLegal. Some examples of tax jurisdictions include states, cities, townships and counties.Full Answer >