Types of Taxes in the USA
Types of Tax in USA: Features & Advantages
The US taxation system is regulated by the federal, state, and local governments. Each level of government levies its own unique taxation methods to fulfill its different financial obligations. The Internal Revenue Service (IRS), which has a monopoly on federal taxation, checks income taxes, while the state and local governments are the authorities that collect the sales taxes, and property taxes among other imposts specific to their areas.
Table of Content
- Types of Taxes in the USA
- 1. Income Tax
- 2. Sales Tax
- 3. Property Taxes
- 4. Payroll Taxes
- 5. Excise Taxes
- Conclusion