An America is one of two countries in the world that taxes its non-habitant citizens on worldwide earning, in the same manner and rates as residents; another is Eritrea. The America Supreme Court maintained the constitutionality of imposition of like a tax in the case of Cook v. Tait.
Wages 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 1st $106,800 of wages in 2009 through 2011. However, benefits are just increased on the first $106,800 of salary. Employers must restrained earning taxes on salary. An unemployment tax and certain other collects apply to employers. Payroll taxes have dramatically raised as a share of federal earning since the 1950s, while company earning taxes have fallen as a share of earning. (Corporate profits have not fallen as a share of GDP).
Wealth taxes are imposed by most local governments and many special purpose authorities based on the fair market value of treasure. School and other authorities are oftentimes separately governed, and impose separate taxes. Wealth tax is mostly imposed just on realty, though several jurisdictions tax several forms of business treasure. Wealth 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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