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