Direct vs. indirect tax: the differences
ThomsonReuters
FEBRUARY 6, 2024
Here are the main differences between direct and indirect taxes: Direct taxes Levied on people and entities Are typically proportionate to the taxpayer’s income or assets Considered a progressive tax. The Tax Cuts and Jobs Act (TCJA) of 2017 reduced the federal corporate income tax rate from 35 percent to 21 percent.
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