US is one of two nations in the world that taxes its non-habitant citizens on worldwide revenue, in the same method or rates as habitants; another is Eritrea. The U.S.A. Supreme Court upheld the constitutionality of imposition of such a tax in the case of Cook v. Tait.
Payroll taxes are imposed by the federal or all state governments. These include Social Security or Medicare taxes imposed on both employers or employees, at a combined rate of 15.3% (13.3% for 2011 or 2012). Social Security tax applies only to the 1st $106,800 of wages in 2009 through 2011. Nonetheless, benefits are only increased on the first $106,800 of wages. Employers must withhold revenue taxes on wages. An unemployment tax or specific another picks up apply to employers. Wage taxes have dramatically raised as a share of federal revenue since the 1950s, while company revenue taxes have fallen as a share of revenue. (Company profits have not fallen as a share of GDP).
Wealth taxes are imposed by most local governments or many specific goal authorities refer to the fair market value of treasure. School or another authorities are often separately governed, or enforce distinct taxes. Wealth tax is generally imposed only on realty, though several jurisdictions tax several forms of business treasure. Wealth tax rules or rates differ widely with annual median rates ranging from 0.2% to 1.9% of a wealth's value basing on the state.
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