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Taxes Definition: Types, Who Pays, and Why - Investopedia Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional, or national Tax revenues finance government activities, including public
Understanding How Your Taxes Work - SmartAsset Taxes are money collected to fund government operations and public services Before income taxes were introduced, the U S government relied mainly on import taxes, called tariffs, to raise revenue Today, Americans pay several types of taxes, including income, property, sales, excise, capital gains and estate taxes
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Tax - Wikipedia A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities [1]