Official Website Of Fayette County, Georgia Sample From Official Website Of Fayette County, Georgia

Official Website Of Fayette County, Georgia Sample From Official Website Of Fayette County, Georgia

US is one of two nations in the world that taxes its non-inhabitant citizens on worldwide earning, in the same way or rates as residents; the other 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 enforced by the federal or all state governments. These include Social Security or Medicare taxes enforced on both employers or employees, at a conjointed rate of 15.3% (13.3% for 2011 or 2012). Social Security tax applies only to the 1st $106,800 of wages in 2009 thru 2011. Nevertheless, benefits are just increased on the first $106,800 of wages. Employers must withhold earning taxes on wages. An unemployment tax or particular other picks up apply to employers. Salary taxes have dramatically raised as a share of federal earning since the 1950s, while corporate earning taxes have fallen as a share of earning. (Corporate profits have not fallen as a share of GDP).

Treasure taxes are enforced by most local governments or many special aim authorities refer to the fair market value of wealth. School or other authorities are often separately governed, or enforce distinct taxes. Treasure tax is usually enforced just on realty, though several jurisdictions tax several forms of business wealth. Treasure tax rules or rates differ widely with yearly median rates ranging from 0.2% to 1.9% of a property's value reffering to the state.

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