Tax Base
Tax base is the total amount of income, profits, or capital gains that are subject to taxation. It is the amount of money that is used to calculate the amount of tax that an individual or business must pay. Tax base is determined by the tax laws of a particular jurisdiction and can vary from one jurisdiction to another. Tax base is also known as the tax base or taxable base.
History of Tax Base
The concept of a tax base has been around since ancient times. In the Roman Empire, taxes were based on the amount of land owned by an individual or business. In the Middle Ages, taxes were based on the amount of goods and services produced by an individual or business. In the modern era, taxes are based on the amount of income, profits, or capital gains earned by an individual or business.
In the United States, the federal government has the authority to set the tax base. The Internal Revenue Service (IRS) is responsible for determining the tax base for individuals and businesses. The IRS also sets the tax rates for different types of income, profits, or capital gains. The tax base is used to calculate the amount of taxes that an individual or business must pay.
Tax Base Comparison
| Tax Base | Income | Profits | Capital Gains |
|---|---|---|---|
| United States | $10,000 | $20,000 | $30,000 |
| Canada | $15,000 | $25,000 | $35,000 |
| Australia | $20,000 | $30,000 | $40,000 |
Summary
Tax base is the total amount of income, profits, or capital gains that are subject to taxation. It is the amount of money that is used to calculate the amount of tax that an individual or business must pay. Tax base is determined by the tax laws of a particular jurisdiction and can vary from one jurisdiction to another. For more information about tax base, you can visit websites such as the Internal Revenue Service (IRS) or the Tax Foundation.
See Also
- Tax Rate
- Tax Bracket
- Tax Deduction
- Tax Credit
- Tax Exemption
- Taxable Income
- Taxable Property
- Taxable Event
- Taxable Benefit
- Taxable Period
