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Answer:
The taxes paid by individuals on all money including investments are personal income taxes. Taxes that are paid by homeowners are property taxes, and businesses pay corporate income taxes on their earnings and usually they have to make estimated tax payments.
Explanation:
While these different forms of tax will vary from country to country, in the United States there is a difference between personal taxes and corporate or business taxes. People who own certain forms of property are also taxed at the local and sometimes at the state government level with property taxes. Corporations are usually required to make estimated tax payments if they expect to owe tax of $500 or more when they file their yearly return. Property taxes generate the revenue needed to run state and local governments. In addition, school districts rely on property taxes for funding. Louisiana is one of the states with the lowest property taxes and New Jersey is one of the highest.
Taxes that are paid by individuals on all money earned, including investments, are income taxes.
Taxes that are paid by homeowners to state and local governments are property taxes.
Taxes that businesses are required to pay on their earnings throughout the course of a year are corporate taxes.
Tax simply means a compulsory levy that's paid by individuals and firms to the government. Every individual pays tax on their income and this is an income tax.
The taxes that are paid by homeowners to state and local governments are property tax while those that businesses are required to pay on their earnings throughout the course of a year are corporate tax.
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