Saturday, October 30, 2010

What is income tax?

The first United States income tax was imposed in 1861, at 3%
of all incomes over 800 dollars in order to help pay for the
war effort in the American Civil War.

In 1913, the 16th Amendment to the Constitution made the in-
come tax a permanent fixture in the U.S. tax system.

Income tax is a tax imposed on income.

---wikipedia.org


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