General
Charges made by the governemt to pay for government functions
What are taxes?
6% sales tax
What is Michigans sales tax?
Sate and federal
What are two types of income tax?
The process of determining the value of property
What is an assessment?
Taxes are only limited by this document
What is the constitution?
A tax placed on the sale of a good made by the purchaser
What is sales tax?
Tax placed on the sale of most goods
What is general sales tax?
A style of tax where the more you earn or the more something is worth the higher the tax rate
What is progressive tax?
Carries out the assessment
Who is an assessor?
Due process and equal protection clause
What is the 14th amendment?
A tax levied on individuals or corporate incomes
What is income tax?
Tax placed on the sale of certain commodities such as gasoline, tobacco and alcohol
What is selective sales tax?
Tax income is a major source of income for this type of government
What is federal government?
Property tax is the major source of revenue for this type of government
What is local government?
Local units of government get their power to tax from them
Who is the state?
A tax levied on land, buildings and improvements to land
What is property tax?
A style of tax with a flat rate that falls heavier on people with a low income
What is a regressive tax?
April 15th
When is income tax due?
$1 yoy pay in tax fpr every $1000 of property worth
What is a mill?
He created the four principles of taxation from the wealth of nations
Who is Adam Smith?