Homework Answers
Part A
|
Minimum tax |
$851 |
To make vertically equitable in terms of the amount of tax paid, Pedro should pay more in tax dollars compared to Mae as he has more taxable income than her. Thus Pedro is required to pay only the $1 more dollar in tax than Mae.
Part B
|
Tax rate structure |
Regressive |
(As Pedro is required to pay more tax than Mae however, the tax rate has to be same in case of vertical equity)
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Chapter 1 homework Given the following tax structure, Taxpayer Mae Pedro Salary $ 12,500 $ 51,500...
Given the following tax structure, Taxpayer Salary Total Tax Mae $ 10,000 $ 600 Pedro $...
Given the following tax structure, Taxpayer Salary Total Tax Mae $ 10,000 $ 600 Pedro $ 20,000 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? b. This would result in what type of tax rate structure?
Given the following tax structure, Taxpayer Salary Total Tax Mae $ 30,000 $ 1,950 Pedro $...
Given the following tax structure, Taxpayer Salary Total Tax Mae $ 30,000 $ 1,950 Pedro $ 37,000 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? b. This would result in what type of tax rate structure?
Given the following tax structure, Taxpayer Salary Total Tax Mae $29,000 $2,465 Pedro $36,000 ??? a....
Given the following tax structure, Taxpayer Salary Total Tax Mae $29,000 $2,465 Pedro $36,000 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax b. This would result in what type of tax rate structure? Tax rate structure
Given the following tax structure, Taxpayer Mae Pedro Salary $10,500 522,000 Total Tax 5735 ?? ....
Given the following tax structure, Taxpayer Mae Pedro Salary $10,500 522,000 Total Tax 5735 ?? . What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax b. This would result in what type of tax rate structure?
Given the following tax structure, Taxpayer Salary Total Tax Mae $10,000 $600 Pedro $20,000 ??? a....
Given the following tax structure, Taxpayer Salary Total Tax Mae $10,000 $600 Pedro $20,000 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax b. This would result in what type of tax rate structure? Taxe structure
Given the following tax structure Taxpayer salary total tax Mae 14,000 1260 Pedro. 52,000. ???? What...
Given the following tax structure Taxpayer salary total tax Mae 14,000 1260 Pedro. 52,000. ???? What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? This would result in what type of tax rate structure? Regressive or Progressive?
Given the following tax structure, Taxpayer Salary Total Tax Mae $10,000 $ 600 Pedro $20,000 ???...
Given the following tax structure, Taxpayer Salary Total Tax Mae $10,000 $ 600 Pedro $20,000 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) & Answer is complete but not entirely correct. Minimum $ 1,200 Ⓡ tax Given the following tax structure, Taxpayer Salary Total Tax Mae $10,000 $ 600 Pedro $20,000 ??? a. What is...
Given the following tax structure, Taxpayer Salary Mae $21,500 Pedro $ 46,000 Total tax $1,032 ???...
Given the following tax structure, Taxpayer Salary Mae $21,500 Pedro $ 46,000 Total tax $1,032 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) Minimum tax b. This would result in what type of tax rate structure? Tax rate structure
Given the following tax structure, Taxpayer Salary Total Tax Mae Pedro $53,500 $30,500 2,806 What is...
Given the following tax structure, Taxpayer Salary Total Tax Mae Pedro $53,500 $30,500 2,806 What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax
I did 51500/6.8% =3502 and still got it wrong for the minimum tax Given the following...
I did 51500/6.8% =3502 and still got it wrong for the minimum
tax
Given the following tax structure, Taxpayer Salary Total Tax Mae $12,500 $ 850 Pedro $51,500 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax $ 3,502 b. This would result in what type of tax rate structure? Tax rate structure Regressive
Given the following tax structure, Taxpayer Salary Total Tax Mae $29,000 $2,465 Pedro $36,000 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax b. This would result in what type of tax rate structure? Tax rate structure
Given the following tax structure, Taxpayer Mae Pedro Salary $10,500 522,000 Total Tax 5735 ?? . What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax b. This would result in what type of tax rate structure?
Given the following tax structure, Taxpayer Salary Total Tax Mae $10,000 $600 Pedro $20,000 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax b. This would result in what type of tax rate structure? Taxe structure
Given the following tax structure, Taxpayer Salary Total Tax Mae $10,000 $ 600 Pedro $20,000 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) & Answer is complete but not entirely correct. Minimum $ 1,200 Ⓡ tax Given the following tax structure, Taxpayer Salary Total Tax Mae $10,000 $ 600 Pedro $20,000 ??? a. What is...
Given the following tax structure, Taxpayer Salary Mae $21,500 Pedro $ 46,000 Total tax $1,032 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) Minimum tax b. This would result in what type of tax rate structure? Tax rate structure
Given the following tax structure, Taxpayer Salary Total Tax Mae Pedro $53,500 $30,500 2,806 What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax
I did 51500/6.8% =3502 and still got it wrong for the minimum
tax
Given the following tax structure, Taxpayer Salary Total Tax Mae $12,500 $ 850 Pedro $51,500 ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax $ 3,502 b. This would result in what type of tax rate structure? Tax rate structure Regressive
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