Tax Burden

Categories: Tax,

The amount of income, property, or sales tax levied on an individual or business. Tax burdens vary depending on a number of factors including income level, jurisdiction, and current tax rates. income tax burdens are typically satisfied by deductions from an individual's paycheck each time he or she is paid. Depending on the amount of allowances claimed by the individual, a tax burden may exceed the total amount of money deducted during the taxable period.