The United States is one of two nations in the world that taxes its non-habitant citizens on worldwide revenue, in the same method and rates as inhabitants; the other is Eritrea. The United State Supreme Court upheld the constitutionality of imposition of such a tax in the case of Cook v. Tait.
Payroll taxes are enforced by the federal and all state governments. These include Social Security and Medicare taxes enforced on both employers and employees, at a conjointed rate of 15.3% (13.3% for 2011 and 2012). Social Security tax applies only to the first $106,800 of wages in 2009 through 2011. Nevertheless, advantages are just accrued on the first $106,800 of wages. Employers should withstand revenue taxes on wages. An unemployment tax and particular another gathers apply to employers. Payroll taxes have dramatically increased as a share of federal revenue since the 1950s, while company revenue taxes have fallen as a share of revenue. (Venture profits have not fallen as a share of GDP).
Wealth taxes are enforced by most local governments and many particural objective authorities refer to the fair market value of wealth. School and another authorities are often separately governed, and impose distinct taxes. Wealth tax is mostly enforced just on realty, though several jurisdictions tax several forms of business wealth. Wealth tax rules and rates differ widely with annual median rates ranging from 0.2% to 1.9% of a wealth's value reffering to the state.
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