What Is a Local Tax?

A local tax is a tax imposed by a local government, such as a city, county, or school district. The tax may be imposed on property, income, sales, or some other base. Local taxes are used to finance local government services such as police and fire protection, schools, and parks. What is included in state and local taxes? State and local taxes generally include sales and property taxes, as well as income taxes for residents of the state or locality. Some states and localities also impose taxes on specific items or services, such as gasoline, alcohol, or tobacco. Does my employer have to withhold local taxes? The answer to this question depends on the laws of the specific locality in question. Some localities do require employers to withhold local taxes from employee paychecks, while others do not. Employers should consult with their accountant or tax advisor to determine whether or not they are required to withhold local taxes.

What are types of tax?

There are many types of taxes, but the two main types are direct taxes and indirect taxes.

Direct taxes are taxes that are imposed on individuals or entities directly by the government. The most common type of direct tax is an income tax, which is imposed on individuals based on their earnings. Other types of direct taxes include property taxes, estate taxes, and gift taxes.

Indirect taxes are taxes that are imposed on the sale or exchange of goods and services. The most common type of indirect tax is a value-added tax (VAT), which is imposed on the sale of goods and services at each stage of the supply chain. Other types of indirect taxes include excise taxes, customs duties, and consumption taxes. Where is local tax on w2? The Local Tax on W2 is a tax imposed by the local government on the employee's wages. The amount of this tax is generally based on the employee's tax bracket and the amount of their wages. What are the 4 types of tax? The four main types of taxes are income taxes, sales taxes, property taxes, and corporate taxes.