Pike owes $1200 in taxes is she the purchase $16,000 in Oregon and owes $820 in transactions if she purchase $16,000 in Oergon.
<h3>What is
taxes?</h3>
Whether municipal, regional, or federal, taxes are mandated payments made by individuals or businesses to the government. Government programs like Social Security and Medicare as well as public infrastructure and services like roads and schools are funded by tax income.
Taxes are borne by whoever bears the cost of the tax, whether this is the entity being taxed, such as a business, or the final users of the items produced by the firm. Taxes of all kinds, including payroll taxes, federal and state income taxes, and sales taxes, need to be taken into account from an accounting standpoint.
The government collects taxes as a required contribution.
Federal income taxes in the US are collected by the Internal Revenue Service (IRS).
To learn more about taxes from the given link:
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