US is one of two countries in the world that taxes its non-resident citizens on worldwide revenue, in the same way or rates as residents; another is Eritrea. The United State Supreme Court maintained the constitutionality of imposition of such a tax in the case of Cook v. Tait.
Wages taxes are imposed by the federal and all state governments. These inclusive Social Security or Medicare taxes imposed on both employers also 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. Nonetheless, benefits are just accrued on the first $106,800 of wages. Employers should withstand revenue taxes on wages. An unemployment tax or specific another picks up apply to employers. Wage taxes have dramatically increased as a share of federal revenue since the 1950s, while company income taxes have fallen as a share of earning. (Corporate profits have not fallen as a share of GDP).
Property taxes are enforced by most local governments also many specific purpose authorities refer to the fair market value of wealth. School also other authorities are often separately governed, or enforce separate taxes. Wealth tax is usually enforced only on realty, though some jurisdictions tax some forms of business treasure. Property tax rules also rates vary widely with yearly median rates ranging from 0.2% to 1.9% of a property’s value basing on the state.