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2 January, 17:56

What type of tax does the federal government collect

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  1. 2 January, 20:12
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    Hello!

    The federal government collects all of the following taxes:

    • Individual Income tax (tax on a person's income)

    • Corporate Income Tax (tax on a coporation's income)

    • Social Insurance taxes (taxes collected from employees and employers to pay for major social programs)

    • Excuse Taxes (taxes on the manufacture, transportation, sale, or use of goods and performance of services)

    • Custom Duties (a. k. a tariff)

    • Estate Tax (tax on property and wealth over $1.5 million of a person who dies)

    • Gift Tax (tax on gifts about $11,000)
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