subject to tax
51Tax incidence — In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to fall upon the group that, at the end of the day, bears the burden of the tax. The key concept is that… …
52Tax protester history — A tax protester, in the United States, is a person who denies that he or she owes a tax based on the belief that the constitution, statutes, or regulations do not empower the government to impose, assess or collect the tax. The tax protester may… …
53Tax credit — The term tax credit describes two different concepts:*The first is a recognition of partial payment already made towards taxes due. *The second is a state benefit paid to employees through the tax system, which has the effect of increasing… …
54Tax Base — The assessed value of a set of assets, investments or income streams that is subject to taxation, or the assessed value of a single asset that is subject to taxation. Anything that can be taxed has a tax base. The tax base may refer to that of an …
55Tax holiday — A tax holiday is a temporary reduction or elimination of a tax. Governments usually create tax holidays as incentives for business investment. The taxes that are most commonly reduced by national and local governments are sales taxes. In… …
56Tax lien sale — A tax lien sale is the sale, conducted by a governmental agency, of tax liens for delinquent taxes on real estate. It is one of two methodologies used by governmental agencies to collect delinquent taxes owed on real estate, the other being the… …
57Tax levies — A Tax levy, under United States Federal law, is an administrative action by the Internal Revenue Service (IRS) under statutory authority, without going to court, to seize property to satisfy a tax liability. The levy includes the power of… …
58tax system — Spain s tax system is, from 1998, in the process of being reformed. The number of income tax brackets was reduced from eighteen in 1996 to ten in 1997, and a further reduction to six was proposed in 1998. Prior to these reforms, rates ranged… …
59Tax Bracket — The rate at which an individual is taxed. Tax brackets are set based on income levels; individuals with lower income levels are taxed at a lower rate than individuals with higher income levels. Tax brackets serve as cutoff points for given income …
60tax year — A business is given a tax year. These usually end at the end of March, April and May each year. HM Customs & Revenue Glossary The tax year begins on April 6 and ends on April 5 the following year. Financial Services Glossary * * * tax year tax… …
