By Tom Ozimek The U.S. Department of Treasury has announced that over $2 billion in taxpayer-funded electric vehicle (EV) tax credits have been provided to consumers since the beginning of the year, as part of the Biden administration’s electrification push. The subsidies, delivered as tax credits of up to $7,500 for new EVs and $4,000 […]
Tag: Income Tax
An income tax is a tax imposed on individuals or entities that varies with respective income or profits. Income tax generally is computed as the product of a tax rate times taxable income. Taxation rates may vary by type or characteristics of the taxpayer. The tax rate may increase as taxable income increases.
