Sales Tax - Commonly used by states & Local governments to raise revenue., Sin Tax - Levied upon luxury items, and on vice items., Inheritance Tax - Paid on transfer of properties from a deceased person to his heirs., Income Tax - Largest source of revenue for the government., Capital Gains Tax - Imposed on profits from investments and real estate, Value added tax - Placed on added value of goods, Payroll Tax - Medicare & Social Security, Property tax - Levied upon real estate or personal property, Travel Tax - Used to fund the FAA (Federal Aviation Administration),

1.4 Types of Tax

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