MANAGEMENT

Detailed explanation-1: -State, county, and municipal taxes may be referred to as local taxes, as opposed to federal taxes.

Detailed explanation-2: -sales tax-Is taxes levied by state and local governments on purchases.

Detailed explanation-3: -Texas does not have an individual income tax. Texas does not have a corporate income tax but does levy a gross receipts tax. Texas has a 6.25 percent state sales tax rate, a max local sales tax rate of 2.00 percent, and an average combined state and local sales tax rate of 8.20 percent.

Detailed explanation-4: -A tax is a mandatory fee or financial charge levied by any government on an individual or an organization to collect revenue for public works providing the best facilities and infrastructure. The collected fund is then used to fund different public expenditure programs.