Other than those Materials which belong to Third Parties, ABC Companies retains copyright on all Information, including text, graphics and sound and all trademarks displayed on this Website which are either owned by or licensed to by ABCL and/or used under license by ABC Companies. At the state level, they vary considerably. This type of tax varies according to the state or municipality of residence. Especially for the first month of each year. education is one of the areas that most requires attention. However, taxation is not a government's only source of revenue. You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others. Another great benefit of paying taxes is the fact that there are laws that give credits on insurance premiums to those who meet their tax obligations on time. Hence, they should not be solely relied on when making investment decisions. Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities. No fee of whatsoever nature is to be charged for the use of this Website. Florida does not charge income tax. ; each one guarantees good services and the nations economic growth. It differs because it involves two living persons. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. This power can be used to dictate functions within the market and can affect trade deals. And it is even more unfair when the people in the government implementing this rule are corrupt and dishonest, pushing the limits of the law to gain more advantage for the rich. Summary: Paying taxes is one of the best ways to identify yourself as a rule-abiding citizen. The Importance of Paying Payroll Taxes. . Some consider taxes a large burden that takes up most of their salary. Paying taxes is also a responsibility, both as individuals and as corporate entities. Taxes are something that many people think are useless expenses wasted on the government when in fact it is something that helps to keep society in order. From this Website, users may visit or be directed to third party web sites. The cost of running an entire country, especially one that is as large and populated as ours, is humongous. Other states charge substantial amounts. You are requested to please notify. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Updated March 2018 Page 2 2 Starting January 1, 2018, compensation income earners, self-employed and professional taxpayers (SEPs) whose annual taxable incomes are P250,000 or less are exempt from the personal income tax (PIT). It's not an enjoyable task and often comes with complaints, but it's inevitable that every first quarter is filled with due . These Terms of Use shall apply to the access and use of the Website and all associated web pages/ sites which are linked with www.adityabirlacapital.com (Website). Payments at the national level will depend on several factors, including income and marital status. ; understanding the basics of the types of taxes can be valuable for financial planning. But the system is far from perfect, not only because of the specifics and complexity of the code but also because of the people enforcing it. The Planner provides a generic indication of your money needs to enable you to prioritize your investment needs which are rule based. You agree that Facilities Provider / ABC Companies has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any other ABC Companies and/or third parties. Three types of taxes are reflected on an employees pay stub and are the most widespread: general income taxes, payroll taxes, and state income taxes. Property taxes are based on the market value of the property. Failure in payment of taxes will have an individual or a company face severe consequences and punishment which . Cherokee County has a median home price of around $258,200, with a property tax of $2,148 per year . 3 Reasons Why is it Important for Every Citizen to Pay Taxes, Check Your Personal Loan Eligibility In Less Than A Minute, relates either to ABCL and/ or ABC Companies under all associated web pages/ sites which are linked to www.adityabirlacapital.com (hereinafter referred as the, Please read these Terms and Conditions (, By accessing and using this Website you have confirmed that you have read, understood and bound yourself by these Terms of Use. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. That said, tax is essential to help the government give us protection, build better roads and bridges, institutions and provide social infrastructures. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company. Therefore, the search results displayed by the Planner cannot be construed to be entirely accurate / comprehensive. Your electronic consent, accepting these Terms of Use, represents that you have the capacity to be bound by it, or if you are acting on behalf of any person, that you have the authority to bind such person. Citizens may also be asked to pay for special government services, such as unusual police and fire protection. Understanding payroll tax requirements and . These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank. This Website contains information, materials, including text, images, graphics, videos and sound (Materials), which is protected by copyright and/or other intellectual property rights. Such references do not imply that it is intended to announce such products, programs or facilities in your country. Since 1950, individual income taxes have been the primary source of revenue for the U.S. federal government. Without taxes, responding to peoples demands is impossible. That's right, if your total income is within certain limits, you can pay $0 in tax on capital gains for the year. You agree that these Terms of Use may be subject to change/modification for such reason as it may deem fit and proper, including but not limited to comply with changes in law or regulation, correct inaccuracies, omissions, errors or ambiguities, reflect changes in the process flow, scope and nature of the services, company reorganisation, market practice or customer requirements. The Website will not be liable for any loss that you may incur as a result of someone else using your password or account, either with or without your knowledge. From personal tax to corporate tax, we pay a lot in taxes. In some cases, the municipality may even foreclose on your home in order to collect the unpaid taxes. Learn on the go with our new app. Except in the manner as stated in the Privacy Policy, the Website will not disclose your Personal Information with any affiliated or unaffiliated third parties. Services. You understand and acknowledge that Aditya Birla Money Limited (, sources of income for the Indian government, Deemed Dividend Under Section 2(22)e of Income Tax: Explained, Tax Deductions for Infrastructure Development Under Section 80IA, All You Need to Know About Education Cess. is not intended and shall not be treated as an offer to sell or the solicitation of an offer to buy any product/offering of these ABC Companies or third parties. The money is also used to pay the police, public services, parliamentarians, postal system, among others. is 2.9%, which equals 1.45% for the employee and the employer to fund the program. Public schools provide free education to students of different age groups. Every state has his own way of collecting tax . Together with payroll taxes (used to fund social programs like Social . The highest gift tax rate is 40% on the taxable amount of the gift or donation. Every business must file company tax returns and pay taxes on a federal and state level, including in the state where it was founded as well as any other state where it does business. CBDT issues refunds of over Rs 1.14 trillion between April to August. Avoid losing future refunds. The results provided by the Planner are generic in nature and do not necessarily reflect the actual investment profile that you may hold and it is not necessary for you to act on it. Other states charge substantial amounts. The Planner provides an indicative view about the generic investment opportunities available in the manner indicated by you. Gold investors will pay capital gains taxes when they make a profit. Payments at the national level will depend on several factors, including income and marital status. Other than those otherwise indicated and agreed by You, this Website do not collect or store or share your Personal Information. Public schools provide free education to students of different age groups. In other words, without taxes, it would be impossible . There is paperwork to be done and submitted, and companies often opt to outsource finance and accounting services just so they need not focus their own time, energy, and manpower on corporate tax. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. If you do not agree with any of these Terms of Use, you may not use this Website. The government manages the money collected through taxes and uses it profitably for all citizens. Some people qualify for a mortgage interest deduction. Importance of Paying Business Taxes. They fall on the common good of the citizens and the country or region where they reside and are divided into two areas. Any access to information hosted on third party websites of billers/banks/merchants/ABC Companies etc. Remember, the sooner paid, the less owed. This favors companies as they will have more internal consumption. Safeguard credit. The tax revenue generated helps fund the maintenance, repair, and upgrade of local roads, bridges, and infrastructure. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website. It especially finances health services such as medical research, social security, and social health care. The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. by Thalia Spike -. . Your continued usage of the facilities from time to time would also constitute acceptance of the Terms of Use including any updation or modification thereof and you would be bound by this Agreement until this Agreement is terminated as per provisions defined herein. All communications in electronic format will be considered to be in "writing". No fee or consideration or economic benefit either directly or indirectly is associated for availing the assessment through MoneyForLife Planner and therefore it is not to be considered as an investment advice or financial planning and / or investment advisory services. It should be our priority to pay taxes on time to our government. Send money on cash app without debit card, Transfer money from gift card to cash app, Cash app payment completed but not received, how to add money to cash app card at walgreens, Transfer visa gift card balance to paypal, How old do you have to be to have a paypal, Best paying jobs in industrial machinery/components, Behavioral questions and answers for interviews. At the state level, they vary considerably. For Expert Advice on the Right Money Solutions, leave your details below.. Aditya Birla Capital (the Brand) is the single brand for financial services business of Aditya Birla Group. FS 2019-5, April 2019 The Internal Revenue Service reminds taxpayers about the importance of timely filing and paying their taxes, and that there are several options available to help people having trouble paying. Corporate power can also affect the governance of the country, especially in a world where money can buy you a great many things. Every government needs money to perform civil operations and to administrate the running of the state. For example, the total cost of student semester permits will increase by $22 due to the addition of the References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Websites endorsement, sponsorship or recommendation of the third party, information, product or facilities. For more details, please also refer to the Legal Disclaimers provided on the Website. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions. Public infrastructures also benefit from the taxes that we pay. You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy. While in others, different tax rates apply, depending on income. 11 New research shows that an important determinant of firm entry is the ease of paying taxes, regardless of the corporate tax rate. One ABC ID can be created by you on the Website or any of the webpage of ABC Companies (Account.ABC.com sign up page.) To understand what taxes exist and why it is important to pay taxes, you need to know about each one. The government can return the money paid by businesses through taxes. If you come across any breaches/violation or offensive material you must report to us [email protected]. Aditya Birla Capital is the brand and accordingly all products and facilities are provided by respective ABC Companies as applicable. Added to this, filing for taxes is no easy task. This Website contains information, materials, including text, images, graphics, videos and sound (, All Personal Information including Sensitive Personal Information provided/related to you, shall be stored/used/processed/transmitted expressly for the Purpose or facilities indicated thereon at the time of collection and in accordance with the Privacy Policy. Among the items considered estates are cash, insurance, real estate, securities, and business interests. You also agree and authorize ABC Companies / its third-party service providers to contact you at the contact information provided for service related communication relating to your product or facilities offered even if your number is in National Do Not Call Registry. Sales taxes, in some cases, are regressive; low-income households pay a large number of their earnings to cover taxes as opposed to higher-income individuals. The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. A law abiding citizen will also be able to remit taxes on time and they should not be forced or wait for penalties and interests to be imposed. You can use execution platform/services with any third party as deem fit and proper, and there is no compulsion to use the execution services through this Website. A tax rate is charged, and the highest rate at the national level is 40%. By accessing the Website and availing for facilities on the Website, the users (hereinafter referred to as "you", or "your") agree to be bound by these Terms of Use, the legal disclaimer (Legal Disclaimer) and the Privacy Policy (Privacy Policy), as posted on the Website. For example, teaching students that it's required to file taxes and the consequences of not paying taxes. The overall concept about tax payment is that it is beneficial on . Finance. Consumption taxes are usually levied for use of government resources such as harbors, forests, and highways. So, the higher you pay in taxes, the less profit is made. When being confronted with back taxes we owe the government, we often think of ways to cut back on it. Taxpayers should file on time, even if they cant pay the full amount due. . An important bridge or highway might be the source of revenue for a town or baron. So, while paying property taxes may not be our favorite thing to do, it is an important way of supporting the city in which we live and work. All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. It is important to pay taxes because they allow you to finance projects such as unemployment benefits and pensions. You agree and understand that use of MoneyForLife Planner does not assure attainment of your investment objectives and there is no assurance that the money objectives will be achieved, as the same is subject to performance of the securities, the forces affecting the securities market and your risk profile. From roads, highways, and transportation to electricity, communications, and protection of the environment, our taxes make the world a better place without much effort on our part. Another one of the benefits of paying taxes is that if your income is low and you need financial aid, you can obtain government benefits to help . In modern economies, taxes are the most important source of governmental revenue. Remember that taxes help stimulate a nations economic growth. Apr 16, 2018. Upon any change, the updated Terms of Use will be updated on the Website or any other means. Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. Visit IRS.gov/payments to learn more about payment options. Taxation is one of the governments main sources of revenue and it uses tax money to pay for government workers and fund state-owned services like security or defense forces, healthcare, and education. MoneyForLife Planner provides an indicative assessment of your money needs based on the factors like income, age, family members and their future, your future money requirements and current lifestyle status as per details filled in by you on the online questionnaire. Aditya Birla Capital is the brand and accordingly all products and facilities are provided by respective ABC Companies as applicable. One ID enables you to have a single login ID for viewing and transacting all your product and service needs across ABC Companies. Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers. To help us remember the importance of paying our taxes, here are some factions of the public that utilize these payments for everyones welfare: The public education system is one of the biggest receivers of the benefits from the collected taxes. You are requested to please notify www.adityabirlacapital.com immediately of any unauthorized use or access of your password or Account, or any other breach of security. Clicking "I Agree" to "Terms & Conditions", shall be considered as your electronic acceptance of this Agreement under Information Technology Act 2000. The Website does not assume responsibility for the timeliness, deletion, mis-delivery, or failure to store any user data, communications, or personalization settings. 2020, Aditya Birla Capital Ltd. In order to break such a cycle or prevent one from happening, its important that taxes are paid, and this will keep the system from collapsing. $3,995. Paying taxes allows the country to advance essential services such as, health care, infrastructure, and education. How is an Excise Tax different from a Sales Tax? There are no charges or fees to be paid by you for use of this Website. It is important to pay taxes because it brings income to the government, which is then used to build and support socialised services and develop infrastructure for the citizens. Taxes are additional expenses related to investments. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your advisor or other financial advisers who are fully aware of your individual circumstances. The taxes collected from us pay for the educators teaching the students, the facilities used inside the classrooms, and the maintenance needed to keep the schools running. In circumstances like duplicate email id/phone number you may not be able to create the One ID. These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. These aretaxes on goods and services purchased. Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. It is similar to the inheritance tax since it is levied on the transferred wealth. What happens with our paid taxes and why should we pay on time. But. $6,604. You understand and acknowledge that Aditya Birla Money Limited (ABML), Aditya Birla Finance Limited (ABFL) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (ABSLMF) are group companies and ABML / ABFL also acts as a distributor of ABSLMF. They are charged for sinful products suchas beer, cigarettes, and gasoline. This is, in fact, one of the main reasons why outsourcing is popular. The format and content of this Website may change at any time. This Website may be linked to other websites (including those of ABC Companies) on the World Wide Web that are not under the control of or maintained by ABCL. Businesses that fail to meet these requirements may be subject to severe penalties. Your continued use of the facilities on this Website constitutes acceptance of the changes and an Agreement to be bound by Terms of Use, as amended. It is key to a prosperous and functional societys economic momentum and common development. The government allocates part of these taxes to create many projects focused on improving most of the things we see in public. The most important purpose of taxation is to raise resources for governments to deliver essential public services. You alone are responsible for your actions or the actions of any person using your user name and/or password. To help you for your money needs you can avail the facility of MoneyForLife Planner (, You shall not be entitled to avail the facilities without the use of a user name and password. Love podcasts or audiobooks? You will be subject to the rules, guidelines, policies, terms, and conditions applicable to any facilities that are provided by this Website and all associated web pages/ sites and they shall be deemed to be incorporated into these Terms of Use and shall be considered as part and parcel of these Terms of Use. 8. Taxes differ from other sources of revenue in that they are compulsory levies and are unrequited (except payroll taxes)i.e., they are generally not paid in exchange for some . Excise taxes must be paid by cannabis businesses in several states, including Washington and Oregon. Aditya Birla Capital Limited is the holding company of all financial services businesses. Your Acceptance of the Terms of Use contained herein constitutes the Agreement for the Purpose as defined hereunder. Although all efforts are made to ensure that information and content provided as part of this Website is correct at the time of inclusion on the Website, however there is no guarantee to the accuracy of the Information. Once you have created ONE ID you can link and view all your financial products held with ABC Companies on single web page through verification / authentication procedure as applicable to your account/financial products held with the respective ABC Companies. It is fundamental to the development of the country and human capital. By accessing and using this Website you have confirmed that you have read, understood and bound yourself by these Terms of Use. Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion. These are meant for general information only or to meet statutory requirements or disclosures. The trade logo Aditya Birla Capital and the URL www.adityabirlacapital.com is owned by Aditya Birla Management Corporation Private Limited (trade mark owner) and the same is used herein under the License by Aditya Birla Capital Limited (ABCL) and its subsidiary companies (collectively hereinafter referred to as ABC Companies). This Website is controlled and operated from India and there is no representation that the Materials/information are appropriate or will be available for use in other locations. We reserve the right to terminate access to this Website at any time and without notice. You may choose not to create One ID in which case you will not be able to display all your products across ABC Companies on one page. You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. Easily, so there is a good relationship between citizens and the economy. How To Apply For Dicks Sporting Goods Credit Card? The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning. Easily, so there is a good relationship between citizens and the economy. The more money a company makes, the more powerful it becomes. The information available on www.adityabirlacapital.com relates either to ABCL and/ or ABC Companies under all associated web pages/ sites which are linked to www.adityabirlacapital.com (hereinafter referred as the Website). $7,430. These taxes are not only intended to raise money but also to discourage certain unhealthy behaviors. All taxes are necessary; each one guarantees good services and the nations economic growth. Avoid Tax Back. In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. TheSocial Security taxis 6.2% of the employees salary; the employer matches the amount for 12.4%. To see a countrys economic growth, collecting taxes is essential. The facilities are intended only to assist you in your money needs and decision-making and is broad and general in scope. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. Important Note on Imposition of Parking Occupancy Tax- Beginning Jan. 1, 2023, Cal State LA will be required by the city of Los Angeles to collect a 10% parking occupancy tax on all campus parking fees. Even when we find that we are paying for our own medical treatments from our own pockets with insurance, it should be noted that healthcare funds from taxes make it easier and more efficient for us by prepaying for all equipment and procedures required even before we see the need for them. No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. Deemed Dividend falls under the scope of Section 2(22)e. A health insurance policy provides financial protection to the policyholder against planned or unplanned medical expenditures. Such sharing of information will be solely for the purpose to fulfill / complete / authenticate your specific requests/transaction execution and for providing information about any ABC Companies product or facilities or services or for data analytics or to deliver to you any administrative notices, alerts or communications relevant to your Purpose (and which may include sending promotional emails or SMS or calls or any other mode permitted under law) or to analyze the usage and improve the facilities/solutions offered or for any research or troubleshooting problems, detecting and protecting against errors or to improve features, tailor the facilities on the Website to your interests, and to get in touch with you whenever necessary. You can review the most current version of the Terms of Use at any time, by clicking the Terms & Conditions link on the Website. The Acceptance of Terms of Use will be between You and Aditya Birla Financial Shared Services Limited (hereinafter referred as Facilities Provider) which is facilitating provision of the services, other than those which are otherwise specifically provided by each of the ABC Companies on their respective web pages / sites to you. You may receive e-mails /communications/notifications from the Third Party Services Providers regarding facilities updates, information/promotional e-mails/SMS and/or update on new product announcements/services in such mode as permitted under law. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes. Because payroll taxes are a vital source of funding for government programs, federal law requires business owners to withhold and submit payroll taxes to the IRS. The government plans social projects, but the development force depends on the citizens. From income tax to property tax to VAT, there are many different taxes we pay. Upon termination, you must immediately destroy any downloaded and printed Materials. The highest gift tax rate is 40% on the taxable amount of the gift or donation. In most cases, it applies to real estate, although it may apply to other property, including a vehicle. The facilities on the Website are not intended to provide any legal, tax or financial or securities related advice. Upon such termination You will not be able to use the facilities of this Website. The IRS considers the estate tax atax on the right to transfer propertyat death. It also supports the movement of goods and services. The government plans social projects, but the development force depends on the citizens. It is your responsibility to decide whether any facilities and/or products available through any of these websites are suitable for your purposes. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. Income tax is the primary source of much-needed funds that help maintain our roads to keep them safe. Please read these Terms and Conditions (Terms of Use) carefully. Every citizen of Australia pays the taxes on time but some . This Website is provided to you on an "as is" and "where-is" basis, without any warranty. Gary: In terms of effective property taxes, Forsyth County has the lowest effective rate at.833 percent. Some states use a flat income tax rate. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party. Taxes help raise the standard of living in a country. At larger scales, the federal tax shifts larger tasks to the government, such as providing social safety nets through Social Security and Medicare and defending the country. Taxes are paid in different forms;when one purchases an item from a store or a supermarket there is a particular percentage that goes to the taxes. 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