US is one of two states in the world that taxes its non-habitant citizens on worldwide earning, in the same manner or rates as residents; another is Eritrea. The U.S. Supreme Court upheld the constitutionality of imposition of such a tax in the case of Cook v. Tait.
Payroll taxes are imposed by the federal and all state governments. These include Social Security also Medicare taxes imposed on both employers also employees, at a conjointed rate of 15.3% (13.3% for 2011 also 2012). Social Security tax applies only to the first $106,800 of wages in 2009 thru 2011. Nevertheless, advantages are just increased on the first $106,800 of salary. Employers must restrained income taxes on wages. An unemployment tax also particular other levies apply to employers. Payroll taxes have dramatically raised as a share of federal revenue since the 1950s, while company revenue taxes have fallen as a part of revenue. (Company profits have not fallen as a share of GDP).
Wealth taxes are enforced by most local governments also many special objective authorities based on the fair market value of property. School also another authorities are often separately governed, or impose separate taxes. Property tax is mostly enforced just on realty, though some jurisdictions tax some forms of business treasure. Wealth tax rules and rates differ widely with annual median rates ranging from 0.2% to 1.9% of a wealth’s value basing on the state.