The Wealth of Nations | Project Gutenberg
INTRODUCTION AND PLAN OF THE WORK.| www.gutenberg.org
Gross receipts taxes, by their very design, lack transparency. Our report explores the pros and cons of a turnover tax, also known as a gross receipts tax.| Tax Foundation
A property tax is primarily levied on immovable property like land and buildings, as well as on tangible personal property that is movable, like vehicles and equipment.| Tax Foundation
A tax deduction is a provision that reduces taxable income. A standard deduction is a single deduction at a fixed amount. Itemized deductions are popular among higher-income taxpayers who often have significant deductible expenses, such as state/local taxes paid, mortgage interest, and charitable contributions.| Tax Foundation
A sales tax is levied on retail sales of goods and services and, ideally, should apply to all final consumption with few exemptions.| Tax Foundation
A corporate income tax (CIT) is levied by federal and state governments on business profits. Many companies are not subject to the CIT because they are taxed as pass-through businesses, with income reportable under the individual income tax.| Tax Foundation
Stay informed on the tax policies impacting you with the Tax Foundation's Above-the-Line tax newsletter. Explore popular tax newsletters.| Tax Foundation
An individual income tax (or personal income tax) is levied on the wages, salaries, investments, or other forms of income an individual or household earns.| Tax Foundation
Tax pyramiding occurs when the same final good or service is taxed multiple times along the production process. This yields vastly different effective tax rates depending on the length of the supply chain and disproportionately harms low-margin firms. Gross receipts taxes are a prime example of tax pyramiding in action.| Tax Foundation
