Find the best answers to the question what does tax levy cnt mean:
Ratha O. answered:
The tax levy is a fee that companies pay to the government to cover taxes. This will be paid in two parts: one part is the corporate tax which is paid on profits and the other part of it is the personal income tax levied on all taxpayers.The corporate tax rate varies from country to country and from company to company. Generally, high-income countries are among those with highest corporate tax rates, which influences their share in global revenue. So, as soon as an individual wants to start a business or invest in any type of venture, he or she will have to pay more taxes.The personal income tax rate varies too but not as much as the corporate income tax rate so people who have less money may not face much problem for paying their taxes. But those who earn more than $
Newell I. answered:
Tax is a very complex subject. It is not easy to completely understand the basic principles of tax. Especially when you want to make sure that your taxes are declared correctly and are not being evaded, knowing about the underlying principles of tax law can help you in many ways.Majority of tax experts believe that higher income individuals pay less taxes than lower income ones because they get most of their income through capital gains or other investments. In addition, a lot of people wrongly assume that as long as your net wealth is zero then you won’t have to pay any taxes on it. This is simply untrue! They need to pay taxes on capital gains they receive from their assets and losses from investing in property which involves real estate or land – both real estate and land are considered property.
Merle W. answered:
The tax levy is the income tax (income tax) that is levied on a company’s profits, irrespective of where the money comes from. The more profit a company has, the higher it will be taxed. However, while companies may have to pay taxes for all their profit earned in any given year, they may also have to pay less taxes when compared to other countries because they are located in low tax jurisdictions such as the United States and some European countries.