Article I, Section 8, Clause 1: The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; . . . 240 U.S. at 12.
What is Article 9 of the Illinois Constitution?
STATE REVENUE POWER The General Assembly has the exclusive power to raise revenue by law except as limited or otherwise provided in this Constitution. The power of taxation shall not be surrendered, suspended, or contracted away. (Source: Illinois Constitution.)
What happens if I dont pay Portland Art Tax?
If you fail to pay, the city adds a $35 penalty. A private debt collector tacks on $5.56 interest and $16.10 in collection fees. Suddenly, payment due for the Arts Tax has jumped from $35 to $91.66, a 162% increase.
What does Article 8 of the Texas Constitution mean?
TAXATION AND REVENUE
ARTICLE 8. TAXATION AND REVENUE. Sec. 1. EQUALITY AND UNIFORMITY OF TAXATION; TAXATION OF PROPERTY IN PROPORTION TO VALUE; OCCUPATION AND INCOME TAXES; EXEMPTION OF CERTAIN TANGIBLE PERSONAL PROPERTY AND SMALL MINERAL INTERESTS FROM AD VALOREM TAXATION; VALUATION OF RESIDENCE HOMESTEADS FOR TAX PURPOSES.
Can Illinois raise taxes without a vote?
It’s a flat rate across the board because the Illinois Constitution dictates that any income tax imposed by the state be “at a non-graduated rate.” Any amendment to Illinois’ Constitution, including the removal of that requirement, requires ratification by voters in a general election.
What is Article 5 of the Illinois Constitution?
(Source: Illinois Constitution.) SECTION 5. CANVASS – CONTESTS The election returns for executive offices shall be sealed and transmitted to the Secretary of State, or other person or body provided by law, who shall examine and consolidate the returns.
What kind of taxes do I have to pay on art?
S.are 28%plus an additional 3.8% of Medicare tax undertheAffordable Care Act. That means that you will have to pay a total of $28,620 for taxes (31.8% of the $90,000 profit). Income Tax Income tax is similar to capital gains tax.
Are there any taxes in the United States Constitution?
No capitation tax shall be laid, unless in proportion to the census or enumerations herein before directed to be taken. No preference shall be given by any regulation of commerce or revenue to the Port of one State over those of another, nor shall vessels bound to or from one State be obliged to enter, clear, or pay duties in another.
What does the constitution say about coining money?
Congress shall have power to coin money, regulate the Value thereof, and of foreign coin, and fix the standard of weights and measures. ~ Art. I, sec. 8, cl. 5. Congress shall have power to provide for the punishment of counterfeiting the securities and current coin of the United States. ~ Art.
What are the tax deductions for art donations?
Generally, tax deductions for donations to charitable organizations vary between 20% and 50% of their value, with donations to cultural institutions resulting in a deduction of 30%. In the U.S., artworks given as gifts or passed down via inheritance are subject to gift or inheritance taxes above a certain threshold.
