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Income tax
An income tax is a tax levied on the income of individuals or businesses . Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax, or profit tax...
Timeline of Events
1799
1.9.1799
British Prime Minister William Pitt introduces income tax to raise funds for the war against Napoleon.
1861
8.5.1861
American Civil War: in order to help pay for the war effort, the United States government levies the first income tax as part of the Revenue Act of 1861 (3% of all incomes over US $800; rescinded in 1872).
1895
4.8.1895
In Pollock v. Farmers' Loan & Trust Co. the Supreme Court of the United States declares unapportioned income tax to be unconstitutional.
1913
2.3.1913
The Sixteenth Amendment to the United States Constitution is ratified, authorizing the Federal government to impose and collect an income tax.
11.3.1913
The United States introduces an income tax.
1916
1.24.1916
In Brushaber v. Union Pacific Railroad, the Supreme Court of the United States declares the federal income tax constitutional.
1917
7.25.1917
Sir Thomas Whyte introduces the first income tax in Canada as a "temporary" measure (lowest bracket is 4% and highest is 25%).
1931
10.17.1931
Al Capone convicted of income tax evasion.
1973
10.10.1973
Vice President of the United States Spiro Agnew resigns after being charged with federal income tax evasion.