190k views
1 vote
What type of tax is an income tax?

1 Answer

1 vote

Answer:

Step-by-step explanation:

Income tax brackets are progressive, meaning that the greater the income, the higher the rate of taxation. An income tax is a tax imposed on individuals or entities that varies with respective income or profits. Income tax generally is computed as the product of a tax rate times taxable income. Federal income taxes are used to provide for national programs such as national defense

User James Atwood
by
7.4k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.