Describe the types of local taxes that an individual or organization is likely to pay. Why are...
Question:
Describe the types of local taxes that an individual or organization is likely to pay.
Why are there different tax rates by locality?
Taxes:
Tax is the percentage of the amount that a taxpayer pays to the governing authority for a specific period out of his earnings for that particular period. The governing authority defines the tax rate according to the earnings of a taxpayer
Answer and Explanation: 1
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View this answerAn organization pays local taxes such as income tax, estimated tax, self-employment tax, employment tax, and sales taxes. On the other hand, an...
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How to Account for Sales, Property & Income Taxes
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Chapter 8 / Lesson 2
8.4K
Taxes are a percentage of the earnings that the government requires from the people. Learn how to account for sales, property and income taxes, and understand how taxes are defined.
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