The United States is one of two countries in the world that taxes its non-inhabitant citizens on worldwide revenue, in the same method and rates as residents; another is Eritrea. The United State Supreme Court maintained the constitutionality of imposition of such a tax in the case of Cook v. Tait.
Payroll taxes are enforced by the federal or all state governments. These inclusive Social Security and Medicare taxes enforced on both employers and employees, at a combined rate of 15.3% (13.3% for 2011 or 2012). Social Security tax applies only to the first $106,800 of wages in 2009 through 2011. Nevertheless, benefits are just accrued on the first $106,800 of wages. Employers should withhold earning taxes on wages. An unemployment tax or specific another picks up apply to employers. Salary taxes have dramatically raised as a share of federal income since the 1950s, while venture revenue taxes have fallen as a part of revenue. (Company profits have not fallen as a share of GDP).
Wealth taxes are enforced by most local governments or many specific goal authorities based on the fair market value of wealth. School also another authorities are often separately governed, or enforce distinct taxes. Treasure tax is mostly imposed just on realty, though some jurisdictions tax some forms of business property. Treasure tax rules and rates diverge widely with yearly median rates ranging from 0.2% to 1.9% of a property’s value reffering to the state.