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Taxes
A tax (from the Latin taxo) is a compulsory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.[1]A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent.
Most countries have a tax system in place to pay for public, common or agreed national needs and government functions. Some levy a flat percentage rate of taxation on personal annual income, but most scale taxes based on annual income amounts. Most countries charge a tax both on corporate income and dividends. Countries or subunits often also impose wealth taxes, property taxes, sales taxes, value-added taxes, payroll taxes or tariffs.
Odessa
Odessa /ˌoʊˈdɛsə/ is a city in and the county seat of Ector County, Texas, United States. It is located primarily in Ector County, although a small portion of the city extends into Midland County.[3] Odessa’s population was 118,918 at the 2010 census making it the 29th-most populous city in Texas; estimates as of July 2015 indicate a population of 159,436 in the city.[4] It is the principal city of the Odessa Metropolitan Statistical Area, which includes all of Ector County. The metropolitan area is also a component of the larger Midland–Odessa combined statistical area, which had a 2010 census population of 278,801; a recent report from the United States Census Bureau estimates that the combined population as of July 2015 is 320,513.[4][5] In 2014, Forbes magazine ranked Odessa as the third fastest-growing small city in the United States.[6]
Odessa was founded in 1881 as a water stop and cattle-shipping point on the Texas and Pacific Railway. The first post office opened in 1885. Odessa became the county seat of Ector County in 1891 when the county was first organized. It was incorporated as a city in 1927, after oil was discovered in Ector County on the Connell Ranch southwest of Odessa.[8]