Wednesday, December 5, 2007

What taxes are in the US?

There are several different taxes withheld in the US:
  • Federal Income Tax. This tax varies from 10-12%
  • State Income Tax. There are 8 states, which don't have this tax. The others have 3-6 % tax.
  • Local Tax. Most localities don't have any taxes but few of them do have a small tax.
  • Social Security and Medicare Tax (FICA, OASDI)

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