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The United States of America, referred to as the (US), is a federal republic composed of 50 states. There is an estimate of over 320 million people as population in the entire country. The US is one of the world’s most ethnically diverse and multi-cultural nations, due to the large-scale immigration from other countries around the globe.

USA Map

Tax System

US federal tax rate are set by the federal government, nation-wide; each state determines their own tax rate according to different due to tax environment and financial situation. Thus, some state will set special tax exemption regulations.

Personal Income taxes are collected from US citizens, green card residents, and non-resident aliens. US citizens and green card residents needs to pay taxes on their income outside of the United States and also personal income tax levied by the year, by self-declaration.  Families are permitted to use joint couple declaration.

The company’s taxable income including interest, dividends, , , business income, capital gains, other income generated not owned by any individual. The corporate income taxpayers is US legal persons and foreign legal persons.

States Consumption Tax Company Tax Personal Income Tax
Alaska
Delaware
Florida
Montana
Nevada
 New Hampshire
Oregon
South Dakota
Texas
Washington
Wyoming

Medical

The US health care system is a combination of public and private regulation. People in retirement have basic free access to health care, and this is part of public interest. The private insurance marketing mechanisms targets the period of time just before retirement. In theory, insurance companies base your monthly payment according to your initial age when obtaining insurance plans and health condition. Besides the increase on the overall insurance rate, there should be no more other increases.

Education

Mainly provided by the government. The three levels of government: Federal government, the State, and the local government (school districts) are responsible to run and funds schools in the United States. In elementary (primary) and secondary school, the course curriculum, funding, education program and other administration are decided within the School District Board that are elected by the local community. School districts usually separate from other local affairs according to officials and budget. Educational standards and standardized tests are usually developed by the state government.

US education

  • Preschool Education – In the United States, there are no mandatory public nurseries or day-care facilities. In some larger cities, there are particular preschool institutions that cater towards _. Because some upper-class families believe that preschool is the first step leading their child onward, and some hire consultants to assist their child’s learning and choosing which day-care to attend.
  • Primary to Secondary Education – Each school district is responsible for providing education for school-aged children, but each state’s requirement for age of entry into schooling is different. Many children (age 5-7) begin to receive education a year before they formally enter into grade 1 in elementary school, but formal schooling begins in grade 1, till grade 12 (typically 18 years old) for completion of secondary education. High school students in the US then apply for University and prepare for a variety of exams, and this is usually completed before grade 12 graduation.
  • University and Colleges – In the minds of the general population, there are about 25 Universities that make up the top education institutions in the United States. For example: Washington University in St. Louis, California Institute of Technology, University of Chicago, Duke University, John Hopkins University, Massachusetts Institute of Technology, Northwestern University, Stanford University and etc. In terms of reputation obtained, the most well-known university is Harvard University.