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Some investment funds are exempt from federal income tax.
Financial and business terms. 2012.
Federal Income Tax — A tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts and other legal entities. Federal income taxes are applied on all forms of earnings that make up a taxpayer s taxable… … Investment dictionary
Rate schedule (federal income tax) — Part of a series on Taxation Taxation in the United States … Wikipedia
Filing Status (federal income tax) — Filing Status is an important factor when computing taxable income under the Federal Income tax in the United States. Your federal tax filing status defines the type of tax return form an individual will use. [… … Wikipedia
United States Federal Income Tax Personal Exemption — A deduction for a Personal Exemption amount for the individual taxpayer, the taxpayer s spouse, and the taxpayer s child or other dependent for purposes of calculating a U.S. taxpayer s federal income tax is provided in the Internal Revenue Code… … Wikipedia
income tax — n: a tax on the net income of an individual or a business compare excise, property tax Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
Income tax in the United States — UStaxationThe federal government of the United States imposes a progressive tax on the taxable income of individuals, partnerships, companies, corporations, trusts, decedents estates, and certain bankruptcy estates. Some state and municipal… … Wikipedia
income tax — A state or federal government s levy on individuals as personal income tax and on the earnings of corporations as corporate income tax. Bloomberg Financial Dictionary * * * income tax ˈincome tax noun [countable, uncountable] TAX in Britain, a… … Financial and business terms
income tax — noun a personal tax levied on annual income (Freq. 4) • Hypernyms: ↑tax, ↑taxation, ↑revenue enhancement • Hyponyms: ↑bracket creep, ↑estimated tax, ↑FICA, ↑ … Useful english dictionary
Income Tax Assessment Act 1936 — is an act of the Parliament of Australia. It s one of the main statutes under which income tax is calculated. The act is gradually being rewritten into the Income Tax Assessment Act 1997, and new matters are generally now added to the 1997… … Wikipedia
State income tax — is an income tax in the United States that is levied by each individual state. Seven states choose to impose no income tax. These states are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. Additionally, New Hampshire and… … Wikipedia
