How many taxes do you know?(Jan-26-2011, 82 days left)

I create a table to present a list of major taxes which are close to your life. Check them out and see how many of them you are familiar with.

Tax	Tax Base	Tax Rate	Federal& State	Others
Property	Realty—Value base Personalty – Years, weight base	Progressive or Proportional	Federal	Some deduction or credit for special property
Transaction-Sales & Use	Tangible property	Proportional	State	Local tax may be larger than state tax
Death- Estate	Fair market value of property + interests Less: Deduction (funeral, marital) +Taxable Gifts (Never Pay Gift Tax before)-Tax Credit (Change every year) Unified Transfer Tax Credit	Progressive	Federal & State	Transferor
Gift	FMV-annual exclusion (13,000) – Marital deduction	Progressive	Federal
Income	Taxable Income	Progressive	Federal & State
FICA	Social security tax: when gross compensation less than 106,800 Medicare Tax	Proportional	Federal	Self-employed people: the tax is imposed by Self-Employment Contributions Act of 1954, they are responsible for the entire percentage of 15.3% multiplier to 92.35% of the business's net earnings from self-employment
FUTA	Unemployment benefit less than 7,000	Proportional	Federal

PSQ

Source: http://www.irs.gov