Terminology Service: SST: income tax

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income tax

Income taxes are taxes on the incomes of individuals and on the net incomes of corporations. Some 41 states and a number of cities and counties levy income taxes, which are based on the same tax bases as federal income taxes. [Source: Political Encyclopedia of U.S. States and Regions; Income Tax]

https://concepts.sagepub.com/social-science/concept/income_tax

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