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The Revenue and Expenditure Control Act of 1968 is a United States law that created a temporary 10 percent income tax surcharge for both individuals and corporations through June 30, 1969, to help pay for the Vietnam War. It also delayed a scheduled reduction in the telephone and automobile excise tax, causing them to end in 1973 instead of ...
A gross receipts tax or gross excise tax is a tax on the total gross revenues of a company, regardless of their source. A gross receipts tax is often compared to a sales tax ; the difference is that a gross receipts tax is levied upon the seller of goods or services, while a sales tax is nominally levied upon the buyer (although both are ...
Despite not having personal income taxes, the top 1% of earners in Texas has the fourth highest tax payments among US states, a study shows.
Taxes are indexed to wages and profits and therefore areas of high taxation are correlated with areas of higher per capita income and more economic activity. Spending is largely focused on areas of poverty, the elderly, and centers of federal employment such as military bases.
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The primary duties of the comptroller's office are to collect substantially all tax revenue owed to the State of Texas (this involves more than 60 different types of taxes from the sales tax-- the largest source of the state's tax revenue, since Texas does not have a personal income tax-- to minor items such as the "battery sales fee" -- a $2–$3 fee on sales of lead-acid batteries) and to ...
Modified Adjusted Gross Income (for beneficiaries who file joint tax returns) IRMAA Surcharge. above $212,000 up to $266,000. $13.70. above $266,000 up to $334,000. $35.30. Above $334,000 up to ...
Excise taxes dedicated to the Airport and Airway Trust Fund raised $9.0 billion in fiscal year 2020, down from $16.0 billion in fiscal year 2019. [2] 90% of the excise tax revenue comes from taxing passenger air fares, and the remaining 10% comes from air cargo and aviation fuel taxes.