What Are the Different Types of Government Taxes?
Fotolia.com”> jQuery(document).ready(function(){ jQuery(‘#jsArticleStep1 span.image a:first’).attr(‘href’,’http://i.ehow.co.uk/images/a06/v6/q4/different-types-government-taxes_-1.1-800X800.jpg’); }); Most societies require their citizens to pay taxes. Supreme Court Justice Oliver Wendell Holmes, Jr. once said, “Taxes are what we pay for civilized society.” They are defined as any of a large number of involuntary fees levied by the government upon individuals and businesses. According to the Tax Policy Center, just about everyone pays them in one way or another. There are many different taxes that cover many different forms of economic activities. Personal Income Tax Income tax is assessed against the amount of money you earn over a period of time and it is typically collected once a year. According to the U.S. Treasury Department, personal income taxes originated in Wisconsin in 1911. The Federal income tax was started in 1913 by the 16th Amendment to the Constitution. The rate of inc
