US is one of two nations in the world that taxes its non-inhabitant citizens on worldwide earning, in the same manner and rates as inhabitants; 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 imposed by the federal and all state governments. These include Social Security and Medicare taxes imposed on both employers and employees, at a combined rate of 15.3% (13.3% for 2011 and 2012). Social Security tax applies only to the first $106,800 of wages in 2009 thru 2011. None the less, benefits are just increased on the first $106,800 of salary. Employers should restrained earning taxes on salary. An unemployment tax and specific other collects apply to employers. Wage taxes have dramatically increased as a part of federal earning since the 1950s, while company earning taxes have fallen as a part of earning. (Corporate profits have not fallen as a part of GDP).
Property taxes are imposed by most local governments and many special purpose authorities refer to the fair market value of property. School and other authorities are often separately governed, and impose separate taxes. Property tax is mostly imposed just on realty, though several jurisdictions tax several forms of business property. Property tax rules and rates diverge widely with annual median rates ranging from 0.2% to 1.9% of a wealth's value depending on the state.
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