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Authorize Certain Cities to Use Special Property Tax Revenue to Pay for Capital Improvements Directly Amendment Allow certain cities to pass a special property tax to pay for capital improvements directly, instead of through paying through bonds or other forms of debt.
These taxes are separate from the county-wide tax. The rate in Bal Harbour and Surfside is 4%, while it is 7% in Miami Beach. [17] Municipal resort taxes "must be used for among other tourism related activities, for the enhancement of tourism, publicity and advertising purposes" according to statute.
Prior to the coming of World War I in the summer of 1914, only two countries, Mexico and the Philippines, made use of a general sales tax for national finance. [2] Excise tax — a transaction tax on the sale of specific items — was broadly used, however, and the idea of a general sales tax was neither unknown nor obscure to political decision-makers in the United States.
The portion of taxes collected from the employee for Social Security are referred to as "trust fund taxes" and the employer is required to remit them to the government. These taxes take priority over everything, and represent the only debts of a corporation or LLC that can impose personal liability upon its officers or managers.
In the United States, the jock tax is the colloquially named income tax levied against visitors to a city or state who earn money in that jurisdiction. Since a state cannot afford to track the many individuals who do business on an itinerant basis, the ones targeted are usually high profile and very wealthy, namely professional athletes.
School and other authorities are often separately governed, and impose separate taxes. Property tax is generally imposed only on realty, though some jurisdictions tax some forms of business property. Property tax rules and rates vary widely with annual median rates ranging from 0.2% to 1.9% of a property's value depending on the state. [9]
Advertised and posted prices generally exclude taxes, which are calculated at the time of payment; common exceptions are motor fuels, the posted prices for which include sales and excise taxes, and items in vending machines as well as alcohol in monopoly stores. Basic groceries, prescription drugs, inward/outbound transportation and medical ...
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents.