American Gov 16

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Author:
westerngal95
ID:
203467
Filename:
American Gov 16
Updated:
2013-02-26 01:02:15
Tags:
American Gov 16
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Description:
American Gove Test 16
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  1. Fiscal Year
    Oct. 1st - Sept. 30th
  2. 4 limitations on trade
    • 1) Cant tax church services 
    • 2) cant tax exports
    • 3)taxes must be apportioned equally
    • 4) employer takes a % of income out of pay for taxes
  3. 16th ammendment
    tax our personal income
  4. Taxes
    Internal Revenue Service (collects taxes)
  5. Social Insurance Taxes
    • 1)OASDI- old age survivor and disability insurance (social security) 
    • 2) Medicare- old age health insurance
    • 3)Unemployment Insurance- combined state and federal income
  6. custom duty
    tax on goods brought into the US
  7. Excise Tax
    (sin taxes) tax on manufacture, sale, or consumption of a good
  8. Estate Tax
    (1916) tax on $ or property left to someone after death
  9. gift Tax
    (1952) tax on value of gifts

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