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State Small Business Credit Score Initiative Ssbci
Absent these adjustments, earnings taxes are subject to “bracket creep” and stealth will increase on taxpayers, while excise taxes are weak to erosion as taxes expressed in marginal dollars, rather than charges, slowly lose value. Excise taxes are commonly levied on cigarettes, alcoholic drinks, soda, gasoline, insurance premiums, amusement activities, and betting, and make up a comparatively small and unstable portion of state and local tax collections. Itemized deductions permit people to subtract designated expenses from their taxable earnings and can be claimed in lieu of the standard deduction. Itemized deductions embody those…