tax taxedu glossary - Robuta Search

https://taxfoundation.org/taxedu/glossary/gross-receipts-tax/ Gross Receipts Tax | TaxEDU Glossary Feb 28, 2025 - A gross receipts tax, also known as a turnover tax, is applied to a company’s gross sales, without deductions for a firm’s business expenses. gross receipts tax taxedu glossary https://taxfoundation.org/taxedu/glossary/direct-tax/ Direct Tax | TaxEDU Glossary Jul 15, 2025 - A direct tax is levied on individuals and organizations and cannot be shifted to another payer. Learn more with TaxEDU. tax taxedu glossary direct https://taxfoundation.org/taxedu/glossary/inheritance-tax/ Inheritance Tax | TaxEDU Glossary Feb 12, 2025 - An inheritance tax is levied upon an individual’s estate at death or upon the assets transferred from the decedent’s estate to their heirs. tax taxedu glossary inheritance https://taxfoundation.org/taxedu/glossary/consumption-tax/ Consumption Tax | TaxEDU Glossary Jul 15, 2025 - A consumption tax is levied on the purchase of goods or services and is paid by the consumer via sales taxes, excise taxes, or VATs. tax taxedu glossary consumption https://taxfoundation.org/taxedu/glossary/indirect-tax/ Indirect Tax | TaxEDU Glossary Jul 18, 2025 - An indirect tax is imposed on one person or group, like manufacturers, then shifted to a different payer, usually the consumer. tax taxedu glossary indirect https://taxfoundation.org/taxedu/glossary/graduated-rate-income-tax/ Graduated Rate Income Tax | TaxEDU Glossary Feb 10, 2026 - What is a graduated income tax? A graduated rate income tax system consists of tax brackets where tax rates increase as income increases. tax taxedu glossary graduated rate income https://taxfoundation.org/taxedu/glossary/individual-income-tax/ Individual Income Tax | TaxEDU Glossary Apr 18, 2026 - An individual income tax is levied on the wages, salaries, investments, or other forms of personal income an individual or household earns. individual income tax taxedu glossary https://taxfoundation.org/taxedu/glossary/property-tax/ Property Tax | TaxEDU Glossary Feb 23, 2024 - A property tax is levied on immovable property like land and buildings and on tangible personal property that is movable. tax taxedu glossary property https://taxfoundation.org/taxedu/glossary/estate-tax/ Estate Tax | TaxEDU Glossary Feb 20, 2024 - An estate tax is imposed on the net value of an individual’s taxable estate, after any exclusions or credits, at the time of death. tax taxedu glossary estate https://taxfoundation.org/taxedu/glossary/distributed-profits-tax/ Distributed Profits Tax | TaxEDU Glossary Feb 12, 2025 - A distributed profits tax is a business-level tax levied on companies when they distribute profits to shareholders (dividends/stock buybacks) tax taxedu glossary distributed profits https://taxfoundation.org/taxedu/glossary/oecd-pillar-2-global-minimum-tax/ OECD Pillar Two (Global Minimum Tax) | TaxEDU Glossary Jul 21, 2025 - OECD Pillar 2 of the global tax deal would limit tax competition in the form of a 15 percent global minimum tax. global minimum tax pillar two taxedu glossary oecd https://taxfoundation.org/taxedu/glossary/progressive-tax/ Progressive Tax | TaxEDU Glossary Feb 23, 2024 - A progressive tax is one where the average tax burden increases with income. Learn more about progressive tax systems with TaxEDU. tax taxedu glossary progressive https://taxfoundation.org/taxedu/glossary/child-tax-credit/ Child Tax Credit | TaxEDU Glossary Jul 15, 2025 - The child tax credit (CTC) is a partially refundable credit that reduces tax liability dollar-for-dollar by up to $2,000 for each child. child tax credit taxedu glossary https://taxfoundation.org/taxedu/glossary/base-erosion-anti-abuse-tax-beat/ Base Erosion and Anti-Abuse Tax (BEAT) | TaxEDU Glossary Feb 7, 2024 - The Base Erosion and Anti-Abuse Tax (BEAT) is meant to prevent corporations operating in the U.S. from avoiding domestic tax liability. base erosion anti abuse taxedu glossary beat https://taxfoundation.org/taxedu/glossary/marginal-tax-rate/ Marginal Tax Rate Definition | TaxEDU Glossary Feb 10, 2026 - The marginal tax rate is the amount of additional tax paid for every additional dollar earned as income. Learn more about marginal tax rates. definition taxedu glossary marginal rate https://taxfoundation.org/taxedu/glossary/corporate-income-tax-cit/ Corporate Income Tax Definition | TaxEDU Glossary Feb 4, 2025 - A corporate income tax is levied by federal and state governments on business profits. Many companies are taxed as pass-through businesses. corporate income tax definition taxedu glossary https://taxfoundation.org/taxedu/glossary/alternative-minimum-tax-amt/ Alternative Minimum Tax (AMT) Definition | TaxEDU Glossary Jul 22, 2025 - The Alternative Minimum Tax (AMT) is a separate tax system that requires some taxpayers to calculate their tax liability twice. Learn more. alternative minimum tax definition taxedu glossary amt https://taxfoundation.org/taxedu/glossary/tax-base/ Tax Base | TaxEDU Glossary Feb 24, 2024 - The tax base is the total amount of income, property, assets, consumption, or transactions subject to taxation by a tax authority. tax base taxedu glossary https://taxfoundation.org/taxedu/glossary/wealth-tax/ Wealth Tax Definition | TaxEDU Glossary Oct 17, 2024 - A wealth tax is imposed on an individual’s net wealth, or the market value of their total owned assets minus liabilities. tax definition taxedu wealth glossary https://taxfoundation.org/taxedu/glossary/tax-refund/ Tax Refund Definition | TaxEDU Glossary Mar 5, 2024 - A tax refund is a reimbursement to taxpayers who have overpaid their taxes, often due to having employers withhold too much from paychecks. definition taxedu glossary refund https://taxfoundation.org/taxedu/glossary/payroll-tax/ Payroll Tax Definition | TaxEDU Glossary Feb 7, 2024 - A payroll tax is a tax paid on the wages and salaries of employees to finance social insurance programs like Social Security and Medicare. tax definition taxedu payroll glossary https://taxfoundation.org/taxedu/glossary/earned-income-tax-credit-eitc/ Earned Income Tax Credit (EITC) | TaxEDU Glossary Feb 16, 2024 - The Earned Income Tax Credit (EITC) is a refundable tax credit targeted at low-income working families. Learn more with TaxEDU. earned income tax credit eitc taxedu glossary https://taxfoundation.org/taxedu/glossary/tax-credit/ Tax Credit Definition | TaxEDU Glossary Mar 23, 2026 - A tax credit is a provision that reduces a taxpayer’s final tax bill, dollar-for-dollar. A tax credit differs from deductions and exemptions. definition taxedu glossary credit https://taxfoundation.org/taxedu/glossary/tax-expenditure/ Tax Expenditures | TaxEDU Glossary Jul 15, 2025 - Tax expenditures are a departure from the “normal” tax code that lower tax burdens through an exemption, deduction, or credit. tax expenditures taxedu glossary https://taxfoundation.org/taxedu/glossary/average-tax-rate/ Average Tax Rate | TaxEDU Glossary Feb 12, 2024 - The average tax rate is the total tax paid divided by taxable income. The average tax rate shows the overall share of income paid in taxes. average tax taxedu glossary rate https://taxfoundation.org/taxedu/glossary/tax-pyramiding/ Tax Pyramiding | TaxEDU Glossary Sep 4, 2024 - Tax pyramiding occurs when the same final good or service is taxed multiple times along the production process. Learn more with TaxEDU. taxedu glossary pyramiding https://taxfoundation.org/taxedu/glossary/salt-deduction/ State and Local Tax (SALT) Deduction | TaxEDU Glossary Jun 11, 2025 - The SALT deduction permits taxpayers who itemize when filing federal taxes to deduct certain taxes paid to state and local governments. local tax salt deduction taxedu glossary state https://taxfoundation.org/taxedu/glossary/sales-tax/ Sales Tax Definition | TaxEDU Glossary Jul 15, 2025 - A sales tax is levied on retail sales of goods and services and, ideally, should apply to all final consumption with few exemptions. tax definition taxedu sales glossary https://taxfoundation.org/taxedu/glossary/worldwide-taxation/ Worldwide Tax System | TaxEDU Glossary Oct 17, 2024 - Worldwide taxation (worldwide tax system), as opposed to a territorial tax system, includes foreign-earned income in the domestic tax base. worldwide tax taxedu glossary system https://taxfoundation.org/taxedu/glossary/capital-gains-tax/ Capital Gains Tax Definition | TaxEDU Glossary Jul 15, 2025 - A capital gains tax is levied on the profit made from selling an asset and is often in addition to corporate income taxes. Learn more. capital gains tax definition taxedu glossary https://taxfoundation.org/taxedu/glossary/carbon-tax/ Carbon Tax Definition | TaxEDU Glossary Feb 8, 2024 - A carbon tax is a form of carbon pricing and, as a market-based approach, it is a cost-effective way to reduce greenhouse gas emissions. tax definition taxedu carbon glossary https://taxfoundation.org/taxedu/glossary/financial-transaction-tax-ftt/ Financial Transaction Tax (FTT) | TaxEDU Glossary Feb 20, 2024 - A financial transaction tax (FTT) is levied on each unique instance of the buying and selling of financial assets such as stocks and bonds. financial transaction taxedu glossary ftt https://taxfoundation.org/taxedu/glossary/tax-incidence/ Tax Incidence | TaxEDU Glossary Feb 12, 2025 - Tax incidence is a measure of who ultimately pays a tax, either directly or through the tax burden. Learn more with TaxEDU. taxedu glossary incidence https://taxfoundation.org/taxedu/glossary/value-added-tax-vat/ Value Added Tax (VAT) Definition | TaxEDU Glossary Feb 11, 2025 - A Value-Added Tax (VAT) is a consumption tax assessed on the value added in each production stage of a good or service. value added tax definition taxedu glossary vat https://taxfoundation.org/taxedu/glossary/excise-tax/ Excise Tax Definition | TaxEDU Glossary Feb 7, 2024 - An excise tax is a tax imposed on a specific good or activity. Excise taxes are commonly levied on soda. gasoline, and sports betting. tax definition taxedu excise glossary