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Corporate Tax
Corporate tax is a federal income tax levied on the profits (net income) of corporations operating in the United States. Some states also impose their own corporate income taxes. It applies to C corporations, while S corporations, LLCs, and partnerships are usually pass-through entities. Applies to taxable income after allowable deductions, credits, and adjustments, Some states (like Texas, Ohio, Washington) levy a gross receipts tax instead of a traditional corporate income tax.
C Corporations pays corporate tax subject to federal (21%) and possible state tax. S Corporations, LLCs, Partnerships Pass-through taxation (income taxed on owners’ personal returns). Foreign Corporations: Taxed only on U.S.-sourced income.
Sales Tax
Sales tax is a consumption tax imposed on the sale of goods and certain services in the United States. It is collected at the state and local level, not by the federal government. Businesses are responsible for collecting sales tax from customers and remitting it to the state.
The U.S. government does not levy a nationwide sales tax, Each state sets its own base rate, Local jurisdictions (counties, cities) may add additional taxes, Total rates can range from 0% to over 10% depending on location. Delaware, Montana, New Hampshire, Oregon, Alaska (though Alaska allows local sales taxes). A major source of revenue for states and local governments. Impacts consumer prices and business compliance requirements.
Property Tax
Property tax is a local tax imposed on the ownership of real estate (land, homes, commercial buildings). It is the primary source of revenue for local governments, such as counties, cities, and school districts.
Local tax assessors determine the value of the property (based on market value, improvements, and land), Each jurisdiction sets its own tax rate.
Public schools, Police & fire departments, Roads, utilities & infrastructure, ocal government operations are funded from the property tax.
Seniors, Veterans, Disabled persons, Agricultural land those are exempted from the property tax in the United States.