Friday, June 22, 2012

Minimum wage

A minimum wage is the lowest hourly, daily, or monthly wage that employers may legally pay to employees.

Luxury tax

A luxury tax is a tax on luxury goods; products that are not considered essential.

Death tax

Death tax is a tax on the estate of the deceased person. Death tax is also called inheritance tax.

Property tax

Property tax is a tax assessed by the state or local government based on the estimated value of the property that is owned.