In the United States, taxes can be levied by federal, state and local governments. The Internal Revenue System is the federal agency that taxes all income annually.Continue Reading
All but six states levy taxes on income. States, cities and counties can tax property. State laws with respect to property tax vary widely; some states assume full responsibility, while most delegate some or all of that task to cities or counties. State and local governments can also levy sales taxes.
Businesses may incur other tax burdens, including payroll taxes, which are levied by the federal government to cover Social Security and Medicare, and unemployment tax, which funds the needs of workers who are temporarily unemployed.Learn more about Taxes
A luxury tax is essentially a tax placed on any goods or services the United States government as well as many state governments deem as non-essential. Such a tax is aimed at only those who are wealthy enough to afford luxury items. Despite the fact that many items formerly considered luxury goods no longer are viewed that way, the term persists.Full Answer >
State tax forms are the forms necessary for paying state income taxes. Each state that has an income tax produces its own set of forms; these are available online for free through various state government websites.Full Answer >
A state refund tax calculator is a dedicated calculator designed to let users calculate estimates of state taxes and refunds, according to the Tax Form Calculator from iCalculator. State tax form calculators typically allow users to input their state and other tax year information to make their calculations.Full Answer >
Tax forms are filled and submitted to file and pay income taxes to the Internal Revenue Service or the appropriate state tax authority, where applicable, according to Investopedia. Tax forms are organized as worksheets in which the tax payer fills in categories regarding his income, deductions and other factors to calculate his tax liability. Taxes have to be filed by law every year the individual makes any kind of income, whether from wages, self-employment, capital gains or other sources.Full Answer >