This tax is a major financial planning factor for most people because it is sometimes imposed at the federal,state,and local levels.

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Income tax is imposed at the federal, state, and local levels in many countries around the world. It is a significant financial planning factor as it affects people's disposable incomes, savings, retirement plans, and investments. Income tax rates and rules vary widely depending on the taxpayer's income, occupation, location, and other factors. Therefore, it is crucial for people to understand how income tax works and to plan accordingly to minimize their tax liability.

This Tax Is a Major Financial Planning Factor for Most