ChatterBank1 min ago
what is the rate of income tax in the usa?
3 Answers
what is the rate of income tax in the usa? also there seems to be tax on everything, how do i find out before i buy something over there?
Answers
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No best answer has yet been selected by bubbles4920. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Sales tax is applied to anything you purchase and it can be different depending on which state you live in and also which community within the state you live in, 2% to 10% - the place I go to regularly is about 8%. Someone else will have to answer about income tax, all I know is you have to work it out yourself and fill in a tax return
It appears that Federal Income Tax is based on bands ranging from 10% to 35%...
http://www.moneychimp.com/features/tax_bracket s.htm
There is also a Payroll Tax which seems to be somewhat equivalent to NI, i.e. "a contribution to Social Security and Medicare: 15.3% of your salary, up to a limit, half of which is paid by your employer."
Income tax law: an overview...
http://www.law.cornell.edu/wex/index.php/Incom e_tax
http://www.moneychimp.com/features/tax_bracket s.htm
There is also a Payroll Tax which seems to be somewhat equivalent to NI, i.e. "a contribution to Social Security and Medicare: 15.3% of your salary, up to a limit, half of which is paid by your employer."
Income tax law: an overview...
http://www.law.cornell.edu/wex/index.php/Incom e_tax
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