| A | B |
|---|
| tax | a required payment to a local, state or national government |
| revenue | income received by a government from taxes and non-tax sources |
| tax base | income, property, good or service that is subject to a tax |
| individual income tax | a tax on a person's earnings |
| sales tax | a tax on the dollar value of a good or service being sold |
| property tax | a tax on the value of a property |
| corporate income tax | a tax on the value of a company's profits |
| proportional tax | a tax for which the percentage of income paid in taxes remains the same for all income levels |
| progressive tax | a tax for which the percentage of income paid in taxes increases as income increases |
| regressive tax | a tax for which the percentage of income paid in taxes decreases as income increases |
| incidence of tax | the final burden of a tax |
