Homework Answers
Consumption tax is defined as the tax which is levied on the value of consumption of a goods and service. There excise tax is a consumption tax as it is paid by the consumer in form of higher retail prices.
Therefore, the correct option is Exicse tax.
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QUESTION 12 Which of the following is a consumption tax? Ad valorem tax Real estate tax...
Which, if any, of the following transactions will decreazse a taxing jurisdiction's ad valorem tax revense...
Which, if any, of the following transactions will decreazse a taxing jurisdiction's ad valorem tax revense imposed on real estate? O a A tax holiday is granted to an out-of state business that is searching for a new factory site O b An abandoned church is coaverted to a restaurant O c A public school is razed and tumed into a city park d. A local university sells a dormitory that will be converted for use as an apartment building...
When the government imposes an ad valorem tax on all goods at rate t, the price...
When the government imposes an ad valorem tax on all goods at rate t, the price of goods increases from pto (1+Tp. If the consumer's budget line was P121 +P222 = m before the tax, the budget line becomes (1+1)P121 +(1+1)P222 = m. This same budget equation can be rewritten as P121 + P222 = , indicating that the application of an ad valorem tax is the equivalent of an income reduction. 1st attempt See Hint %. Write your answer...
Calculate TN Franchise and Excise tax: Given the following: Book value of property 3000.000 Real estate...
Calculate TN Franchise and Excise tax: Given the following: Book value of property 3000.000 Real estate rental Net Worth Federal taxable income Deduction for Th tax taken for federal Industrial Machinery credit Jobs credit Quarterly estimated payments25.000 each Prior vear overpayment no refund cläimed apply to 2018 10,000/year 2,500,000 1,200,000 60,000 500 1.500 10.000 Eal culate franchise and excise taxes and amount of payment or refund due (show calculations
Which of the following are included in the tax basis of a real estate property? (I...
Which of the following are included in the tax basis of a real estate property? (I = included; N= not included): Amounts paid to acquire the property. Amounts borrowed to construct property. The cost of labor paid to contractors to construct property. The value of other property given to the seller in exchange for the property. Bidding fees related to acquiring the property. Amounts paid to third party appraiser to determine the value of the property.
Which of the following is an example of an ad valorem tariff? O a. A 15%...
Which of the following is an example of an ad valorem tariff? O a. A 15% tariff on the value of a shipment of t-shirts b. A S10 tariff on each barrel of petroleum O c. A 20% discount on the value of peaches delivered in October, November, or December d. None of these are correct QUESTION 19 2 poi Which of the following is an example of a specific or flat tariff? O a. A 15% tariff on the...
The imposition of an ad valorem tax: a. shifts the demand curve up by the amount...
The imposition of an ad valorem tax: a. shifts the demand curve up by the amount of the tax. b. None of the options. c. rotates the demand curve in a counter-clockwise direction. d. rotates the demand curve in a clockwise direction. e. shifts the demand curve up by the amount of the tax.
Match the definitions: An object that formerly was personal property but has become real property: Interests...
Match the definitions: An object that formerly was personal property but has become real property: Interests in real property that include possession of the property: The most complete and traditional ownership interest in real estate: Legal provision that protects a residence from creditors, reduces property taxes, and limits the increase in assessed value: Relationship between two parcels of land, one dominant and the other servient: The right to use land for a specific, limited purpose unrelated to any adjacent...
Which of the following real estate taxes paid by the tax will not be deductible on the taxpayer's...
Which of the following real estate taxes paid by the tax will not be deductible on the taxpayer's return? vacation home in Florida Elderly Mother's home Hunting Cabin in Montana Primary residence
Question 1 (1 point) Saved Which of the following is not an objective of the federal...
Question 1 (1 point) Saved Which of the following is not an objective of the federal income tax law? Stimulate private investment Redistribution of wealth Encourage business activities Support local charities Question 3 (1 point) Roughly how large ( maximum) can your estate be in 2019 and not be subject to estate tax when you die. Assume single and O gifts during life-time. 11 million 5 million 15 million All estates will owe estate tax There is no estate tax...
The government imposes a 20% ad valorem tax on a monopoly with cost curve C(Q) =...
The government imposes a 20% ad valorem tax on a monopoly with cost curve C(Q) = 10 + 4 Q^2 facing demand curve 200-5Q. Round your answers to one significant digit after the decimal point if needed. What is Consumer surplus What is Producer surplus What are Government revenues What is the Deadweight loss
Which, if any, of the following transactions will decreazse a taxing jurisdiction's ad valorem tax revense imposed on real estate? O a A tax holiday is granted to an out-of state business that is searching for a new factory site O b An abandoned church is coaverted to a restaurant O c A public school is razed and tumed into a city park d. A local university sells a dormitory that will be converted for use as an apartment building...
When the government imposes an ad valorem tax on all goods at rate t, the price of goods increases from pto (1+Tp. If the consumer's budget line was P121 +P222 = m before the tax, the budget line becomes (1+1)P121 +(1+1)P222 = m. This same budget equation can be rewritten as P121 + P222 = , indicating that the application of an ad valorem tax is the equivalent of an income reduction. 1st attempt See Hint %. Write your answer...
Calculate TN Franchise and Excise tax: Given the following: Book value of property 3000.000 Real estate rental Net Worth Federal taxable income Deduction for Th tax taken for federal Industrial Machinery credit Jobs credit Quarterly estimated payments25.000 each Prior vear overpayment no refund cläimed apply to 2018 10,000/year 2,500,000 1,200,000 60,000 500 1.500 10.000 Eal culate franchise and excise taxes and amount of payment or refund due (show calculations
Which of the following are included in the tax basis of a real estate property? (I = included; N= not included): Amounts paid to acquire the property. Amounts borrowed to construct property. The cost of labor paid to contractors to construct property. The value of other property given to the seller in exchange for the property. Bidding fees related to acquiring the property. Amounts paid to third party appraiser to determine the value of the property.
Which of the following is an example of an ad valorem tariff? O a. A 15% tariff on the value of a shipment of t-shirts b. A S10 tariff on each barrel of petroleum O c. A 20% discount on the value of peaches delivered in October, November, or December d. None of these are correct QUESTION 19 2 poi Which of the following is an example of a specific or flat tariff? O a. A 15% tariff on the...
Question 1 (1 point) Saved Which of the following is not an objective of the federal income tax law? Stimulate private investment Redistribution of wealth Encourage business activities Support local charities Question 3 (1 point) Roughly how large ( maximum) can your estate be in 2019 and not be subject to estate tax when you die. Assume single and O gifts during life-time. 11 million 5 million 15 million All estates will owe estate tax There is no estate tax...
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