What Is Federal Income Taxation?
Federal income taxation is the federal tax on the income of individuals, companies, corporations, trusts, etc. The Federal government looks at your taxable income (your gross income minus any exclusions) and taxes you a certain percentage from 10% to 35%.
The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.