What are the different types of taxes?

There are many different types of taxes that we pay on a yearly basis. Although there are really only two big categories: personal and business, there are also federal/state income taxes, real estate taxes, property tax, sales tax, hotel tax, local tax, and sin tax. These are all of the taxes that we must pay every year.Some residents in certain states are exempt from various taxes stated above. For example, Florida has no state income tax, but their rates for other taxes are higher to level out the taxation field. The main taxes are income tax at the federal and state level, real estate tax, property, and sales tax. Those are generally the taxes that end up in a higher percentage of our overall taxes. Hotel tax, local tax, and sin tax are smaller taxes and rely mostly on our habits as consumers/customers.

Find Accountants in Boston

J David Rotti CPA
45 Chocksett Rd
STERLING, MA 01564
Allen Tax Services
295 Pleasant St
WORCESTER, MA 01609
Bruce A Haverberg Pc
10 Tremont St Ste 200
BOSTON, MA 02108
H.Q. Nguyen, Cpa LLP
1558 Dorchester Avenue
DORCHESTER, MA 02122
Richard A. Thomas, CPA
296 Main Street
Milford, MA 01757
Nicholas M. Allen, CPA
20 School Street
COTUIT, MA 02635