Inheritance Tax
An inheritance tax (also known as an estate tax) is a tax levied on a person who inherits money or property, or a tax on the estate (total value of the money and property), of a person who has died. In international tax law, there is a distinction between an estate tax and an inheritance tax: an estate tax is assessed on the assets of the deceased, while an inheritance tax is assessed on the legacies received by the beneficiaries of the estate. However, this distinction is not always respected in the language of tax laws. For example, the “inheritance tax” in the United Kingdom is a tax on the assets of the deceased, and is therefore, strictly speaking, an estate tax.
Sales Tax
A sales tax is a tax, usually paid by the consumer at the point of purchase, itemized separately from the base price, for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale.
Excise
An excise or excise tax (sometimes called a duty of excise special tax) is commonly referred to as an inland tax on the sale, or production for sale, of specific goods; or, more narrowly, as a tax on a good produced for sale, or sold, within a country or licenses for specific activities. Excises are distinguished from customs duties, which are taxes on importation. Excises are inland taxes, whereas customs duties are border taxes.
Tax Law
Tax law is the codified system of laws that describes government levies on economic transactions, commonly called taxes.
Corporate Tax
Many countries impose corporate tax or company tax on the income or capital of some types of legal entities. A similar tax may be imposed at state or lower levels. The taxes may also be referred to as income tax or capital tax. Entities treated as partnerships are generally not taxed at the entity level. Most countries tax all corporations doing business in the country on income from that country. Many countries tax all income of corporations organized in the country.
Property Tax
A property tax (or millage tax) is an ad valorem tax levy on the value of property that the owner of the property is required to pay to a government in which the property is situated. Multiple jurisdictions may tax the same property.
Tax
To tax (from the Latin taxo; “I estimate”) is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities. Taxes consist of direct tax or indirect tax, and may be paid in money or as its labour equivalent (often but not always unpaid labour).
iPad
The iPad (pronounced /ˈaɪpæd/ eye-pad) is a line of tablet computers designed, developed and marketed by Apple Inc., primarily as a platform for audio-visual media including books, periodicals, movies, music, games, and web content. Its size and weight fall between those of contemporary smartphones and laptop computers. The iPad runs the same operating system as the iPod Touch and iPhone—and can run its own applications as well as iPhone applications. Without modification, the iPad will only run programs approved by Apple and distributed via the Apple App Store (with the exception of programs that run inside the iPad’s web browser).
iPod Touch
The iPod Touch (stylized and marketed as lowercase iPod touch; also colloquially referred to as the iTouch, by analogy to the iPhone) is a portable media player, personal digital assistant, handheld game console, and Wi-Fi mobile device designed and marketed by Apple. The iPod Touch adds the multi-touch graphical user interface to the iPod line. It is the first iPod with wireless access to the iTunes Store, and also has access to Apple’s App Store, enabling content to be purchased and downloaded directly on the device. As of March 2011, Apple has sold over 60 million iPod Touch units.
iPhone
The iPhone (pronounced /ˈaɪfoʊn/ eye-fohn) is a line of Internet and multimedia-enabled smartphones marketed by Apple. The first iPhone was unveiled by Apple’s former CEO Steve Jobs on January 9, 2007, and released on June 29, 2007. The 5th generation iPhone, the iPhone 4S, was announced on October 4, 2011, and released on October 14, 2011, two days after the release of iOS 5.0, the Apple operating system for handheld devices.