The federal government's power to tax, regulate commerce among the states, and to declare war are all examples of enumerated
<h3>What is
tax ?</h3>
Tax is a sort of levy and is defined as an obligatory financial charge or other type of levy placed on a taxpayer by a governmental organization to pay for government expenses and other public expenditures.
The amount of taxable income is reduced by a tax deduction.
A standard deduction is one with a single, set dollar amount.
Because they usually have considerable deductible costs like state and local taxes paid, mortgage interest, and charitable donations, itemized deductions are popular with higher-income individuals.
The percentage of an individual's or corporation's income that is paid in taxes is known as the effective tax rate.
The average tax rate paid by an individual on both earned and unearned income, such as stock dividends, is known as their effective tax rate.
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