Benjamin Franklin is credited with the following quote, In this world, nothing is said to be certain, except death and taxes. In the United States, the Constitution defines the structure of the national government and dictates the scope and limitation of its powers. According to the US Constitution, under the Sixteenth Amendment, “Congress shall have power to lay and collect taxes on incomes.” But in addition to the United States Constitution, each state has its own constitution and therefore, its own body of constitutional law. Did you know states are allowed to impose and collect their own taxes, which is included but not limited to income taxes, sales tax, and property tax?

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6 Dec 2023 susan

Benjamin Franklin is credited with the following quote, In this world, nothing is said to be certain, except death and taxes. In the United States, the Constitution defines the structure of the national government and dictates the scope and limitation of its powers. According to the US Constitution, under the Sixteenth Amendment, “Congress shall have power to lay and collect taxes on incomes.” But in addition to the United States Constitution, each state has its own constitution and therefore, its own body of constitutional law. Did you know states are allowed to impose and collect their own taxes, which is included but not limited to income taxes, sales tax, and property tax?

Benjamin Franklin is credited with the following quote, In this world, nothing is said to be certain, except death and taxes. In the United States, the Constitution defines the structure of the national government and dictates the scope and limitation of its powers. According to the US Constitution, under the Sixteenth Amendment, “Congress shall have power to lay and collect taxes on incomes.” But in addition to the United States Constitution, each state has its own constitution and therefore, its own body of constitutional law. Did you know states are allowed to impose and collect their own taxes, which is included but not limited to income taxes, sales tax, and property tax? Research your state’s income tax and discuss the following: State of Georgia Identify which state you researched, personal income tax rate for that state, state sales tax, state property tax, and any other tax levies. Identify any local taxes for your city. Everyone has to pay federal income tax, but state taxes vary. In Week 2 we studied how cost of living impacts different states, and now you can see some states’ income taxes are much higher than other states’. Discuss how your paycheck has been impacted by these taxes already, and if the information you learned today has influenced where you plan to live or retire someday.