list and describe four non-income-based taxes. be sure to categorize each tax as either progressive or...
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list and describe four non-income-based taxes. be sure to categorize each tax as either progressive or regressive:-
Property tax- flat tax
excise tax0- tax on liquor and tobacco
Gift taxes- progressive
sales tax - flat
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list and describe four non-income-based taxes. be sure to
categorize each tax as either progressive or...
Name and describe two types of taxes other than the income tax. Give example of each....
Name and describe two types of taxes other than the income tax. Give example of each. Compare a sales tax to a use tax. Compare progressive, proportional, and regressive taxes. Briefly compare a sole proprietorship to a corporation as a business entity. Why are S corporations and partnerships called flow-through entities?
Need help with Tax problems. Understanding taxes In general, is the U.S. federal tax system progressive...
Need help with Tax problems.
Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Progressive Regressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
8. The tax system Understanding taxes In general, is the U.S. federal tax system progressive or...
8. The tax system Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Regressive O Progressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
Identify whether the scenarios below are examples of regressive or progressive taxes. A sales tax on...
Identify whether the scenarios below are examples of regressive or progressive taxes. A sales tax on food and clothing. An additional sales tax on cars bought for over $50,000. A flat rate income tax of 20%, with no additional tax being paid on earnings above $1,000,000. An income tax system using tax brackets, where the percentage tax rate increases with income. A fixed poll tax on citizens and residents.
What are the four major considerations given to adopting a revenue source known as the principles of taxation? Describe...
What are the four major considerations given to adopting a revenue source known as the principles of taxation? Describe what they are and their purpose. What is the concept of tax equity? Describe the various factors that must be considered when determining tax equity. What are progressive taxes and regressive taxes? Why are sales taxes considered regressive? Provide three examples of goods subjected to selective sales taxes. Describe the public purpose goals of the selective sales tax for each of...
If government tax policy requires Jasmin to pay $30,000 in taxes on annual income of $200,000...
If government tax policy requires Jasmin to pay $30,000 in taxes on annual income of $200,000 and Paul to pay $10,000 in tax on annual income of $100,000, then the tax policy is: -Proportional - optional - regressive -progressive
Which of the following represents an example of a progressive income tax? A.Someone with an income...
Which of the following represents an example of a progressive income tax? A.Someone with an income of $20,000 pays $2,000 in taxes to the government, and a person with income of $30,000 pays $4,000 in taxes. B. Someone with an income of $20,000 pays $2,000 in taxes to the government, and a person with income of $80,000 pays $7,000 in taxes. C. Someone with an income of $20,000 pays $2,000 in taxes to the government, and a person with income...
Vervet County levies an income tax based on the following schedule. Income Tax Rate 10,000 15%...
Vervet County levies an income tax based on the following schedule. Income Tax Rate 10,000 15% 50,000 20% 100,000 40% Which type of rate structure does this tax use? Proportionate Regressive Progressive Dual-bracket
Correctly answer each part of question #8 In general, is the U.S. federal tax system progressive...
Correctly answer each part of question #8
In general, is the U.S. federal tax system progressive or regressive? Regressive O Progressive You bought 1,000 shares of Tund Corp. stock for $60.59 per share and sold it for $82.35 per share after a few years. How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
Lucy currently earns $72,000 and pays $17,000 in federal income taxes. Simon earns $110,000 per year...
Lucy currently earns $72,000 and pays $17,000 in federal income taxes. Simon earns $110,000 per year and pays $20,000 in income taxes. Based on this small amount of information, is this tax system progressive, regressive, or proportional?
Need help with Tax problems.
Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Progressive Regressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
8. The tax system Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Regressive O Progressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
Identify whether the scenarios below are examples of regressive or progressive taxes. A sales tax on food and clothing. An additional sales tax on cars bought for over $50,000. A flat rate income tax of 20%, with no additional tax being paid on earnings above $1,000,000. An income tax system using tax brackets, where the percentage tax rate increases with income. A fixed poll tax on citizens and residents.
Correctly answer each part of question #8
In general, is the U.S. federal tax system progressive or regressive? Regressive O Progressive You bought 1,000 shares of Tund Corp. stock for $60.59 per share and sold it for $82.35 per share after a few years. How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
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