w88 online game tax is one of the major ways of taxation to raise revenues for governments. While the origins of the w88 online game tax in the U.S. can be found in the time of the Civil War, it entered the U.S. Constitution with the 16th Amendment in 1913. Individual w88 online game tax is a tax on a broadly defined w88 online game of an individual. Corporate w88 online game tax is typically a tax on the net w88 online game of businesses organized as corporations. Payroll tax is similar to an w88 online game tax but it is imposed only on labor earnings (or labor w88 online game) and has both employee and employer portions. Taxes on w88 online game are imposed by federal, state and in some cases even local governments.
Individual w88 online game tax is the most important tax instrument for the federal government. It makes up almost half of all federal tax revenue. Corporate w88 online game tax is much smaller with less than 10% contribution to total federal tax revenue.
Composition of federal w88 online game revenues by source in 2017 (from the Office of Management and Budget):
- 48% Individual w88 online game tax
- 35% Social insurance and retirement contributions
- 9% Corporate w88 online game tax
- 2% Excise taxes
- 6% Other
States may have separate individual w88 online game, or corporate w88 online game taxes. Seven states including Nevada do not have a state w88 online game tax. In addition, New Hampshire and Tennessee limit their state w88 online game tax to only dividend and interest w88 online game.
Federal individual w88 online game tax has a graduated rate structure, which means that tax rates on higher w88 online game levels are higher than the ones for the lower w88 online game levels. This makes the individual w88 online game tax a progressive tax. A tax is progressive when people with higher incomes pay a greater percentage of their incomes towards that tax than people with lower incomes. The top marginal individual w88 online game tax rate was 39.6% in 2017, but it was reduced to 37% in 2018 due to the Tax Cuts and Jobs Act of 2017.
Dr. Tosun is a Professor of Economics and Chair of the Department of Economics at the University of Nevada, Reno. He is also the Barbara Smith Campbell Distinguished Professor of Nevada w88 online game Policy. Dr. Tosun received his Ph.D. in Economics from the Maxwell School at Syracuse University. His main research and teaching expertise is in public finance.
