Types of Taxes

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Types of Taxes
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Income Tax

• Tax levied on the income earned by individuals
  and businesses.
• Can be progressive (higher income, higher tax
  rate) or flat.

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Sales Tax

• Applied to the sale of goods and services.
• Rate varies by location and item type.

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Corporate Tax

• Tax on a company's profits.
• Rate varies based on the business structure.

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Capital Gains Tax

• Applied to the profit from the sale of assets
  like stocks or real estate.
• Rates may differ for short-term and long-term
  gains.

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