A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Sales TaxA tax added to the price of goods and services at checkout, collected by the seller for the government.
- Regressive TaxA tax that takes a larger share of income from lower earners than higher earners, such as many sales taxes.
- Property TaxA tax local governments charge on the value of real estate you own, funding schools and community services.
- State Income TaxA tax some states charge on your earnings, separate from federal income tax, with rates that vary by state.
- Taxable IncomeThe portion of your income left after deductions that the government actually applies tax rates to.
More in Taxes
1099Adjusted Gross Income (AGI)Alternative Minimum Tax (AMT)Capital Gains TaxChild Tax CreditDependent
Plain-English education — not personalized legal, tax, or investment advice.