IRS NJ is Associated With and Known as:
IRS NJ is the tax collecting department of the United States of America. Taxes are imposed in the USA in various levels such as payroll, imports, sales, estates,capital gains, etc. The prime goal of the IRS NJ Taxation department of USA is to monitor the country's tax laws obviously, and efficiently so that country's revenues can enhance public services and there should be no inconvenience in public for paying their relevant taxes. The IRS NJ tax collector system of USA is the most advanced tax system in the cooperate world. Taxes are imposed on the individuals or business firms to their net income and throughout the globe, every person has to pay the tax to their federal governments depending upon their net incomes of one calendar year. The income tax throughout the world is collected under the accounting rules. The taxable income can be reduced by providing this income to the charitable trusts, medical policies, mortgage interest, etc. The rules for determining the taxable income differ from one federal government to the other federal governments for example in the USA, federal tax rates varies from 10% to 36% of the taxable income.
The Income Tax Department of United States of America is the second tax department in the world after Eritrea's tax department, who taxes the non residents on the world wide income.
Types of Income Tax.
1. Payroll Tax: Payroll taxes are implemented by the federal and other state governments on the security, Medicare taxes, etc to the employers as well the employees. The taxation rate is different of one federal government from the other. In the year 2011, in USA, the combined tax rate was 13% while in the year 2012, it was 15%.
2. Property Tax: Property Tax are imposed by all the federal governments and state governments on the market value of a property. Different properties are taxed separately for example the school properties are imposed by separate taxes. Property Tax are actually based on the real figure of a property.
3. Sales Tax: Sales tax is always collected by seller at the time of sale of goods and other services. Sales tax varies from one particular state to the other from 0% to 15%.