The United States is one of two states in the world that taxes its non-resident citizens on worldwide income, in the same manner and rates as residents; another is Eritrea. The U.S.A. 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 inclusive Social Security and Medicare taxes imposed 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 1st $106,800 of wages in 2009 thru 2011. None the less, benefits are just accrued on the first $106,800 of salary. Employers must withhold income taxes on salary. An unemployment tax and certain another collects apply to employers. Payroll taxes have dramatically increased as a part of federal income since the 1950s, while corporate income taxes have fallen as a part of income. (Venture profits have not fallen as a part of GDP).
Wealth taxes are imposed by most local governments and many specific purpose authorities based on the fair market value of property. School and another authorities are often separately governed, and impose distinct taxes. Wealth tax is generally imposed just on realty, though some jurisdictions tax some forms of business property. Wealth tax rules and rates vary widely with annual median rates ranging from 0.2% to 1.9% of a wealth's value basing on the state.
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