What is a statutory tax?

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What is a statutory tax?

2007-12-09 04:38:51 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

3 answers

All taxes are statutory taxes. Statutory means "in accordance with the law" and since no level of government can levy a tax without a law that imposes the tax and gives the government the authority to collect it, all taxes are therefore statutory taxes.

2007-12-09 06:29:07 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 1⤋

Statutory tax is a legally imposed tax.

2007-12-09 15:31:23 · answer #2 · answered by Q 3 · 0⤊ 0⤋

Statutory = "by law."

2007-12-09 13:20:54 · answer #3 · answered by npk 7 · 0⤊ 0⤋