Research Paper Topics on Taxation - Things You Need to Know

Research Paper Topics on Taxation - Things You Need to KnowIn order to be effective in taxation, there are some important and key things that you should know. However, if you do not have the necessary knowledge you will not be able to complete your research work effectively. One of the key facts that you need to know is that most taxes are reported by the central government and these taxes are imposed on many people. There are a few taxes that are directly dealt with by the federal government and these are the income tax, sales tax, stamp duty, property tax and the amount of taxes that are levied by state governments.The first research paper topics on taxation that you should know is the property tax. This is the tax that is levied on your residential property. The property tax is paid at the end of every year and you can get it categorized according to the area of your residence, the value of your house, its location and other factors.You can also learn more about the income tax bec ause this is also levied by the central government and its rate varies from state to state. The income tax is charged depending on your sources of income and is either as a part of the state income tax or the federal income tax.However, the state government has been granting exemptions on different grounds such as for educational institutions and also religious and for industrial, commercial and financial organizations. The various taxes are levied on different tax payers and depending on the tax paying capacity of each person you need to consider the tax deductions.You should learn more about the sales tax since it is levied on different parts of the country. These taxes include the basic sales tax, the uniform sales tax, the use tax, the electrical supply tax, the transport tax, the liquor tax, the utility tax, the fuel tax, the car tax, the bank tax, the fuel tax and the air traffic tax. The rates of the sales tax vary depending on the location of the stores and the location of t he sale.Some taxes are also assessed on the storage of goods, purchase and delivery charges, etc. There are several state sales taxes but these are levied only on the produce of the state and are not paid by the buyers.Another important fact to know is the stamp duty that is imposed on the sale of the goods. Stamp duty is levied on the purchase of goods that are taxable. Some states do not levy the stamp duty but the tax is given to the government at the end of the year.