A tax structured so that people with the different incomes pay the same percentage of their income in taxes is called a (an)   a. excise tax.     b. flat tax.     c. progressive tax.     d. regressive tax.

Q: Various Income Taxes: Should all types of income be taxed at the same rate? First, relate the…

A: Taxable Income: It is a part of a person's gross income that should be taxed. It is also referred to…

Q: It is a tax on a person's income, payments, profits arising from property, the practice of the…

A: The government imposes different types of taxes on people. Some taxes are in the form of direct…

Q: Which of the follwing types of tax may not be shifted a. Percentage Tax b. Excise Tax c. Income Tax

A: The answer is Option c. Income Tax Income tax cannot be shifted.

Q: I. A withholding tax system is one in which the payment of income tax is paid upon the receipt of…

A: Withholding tax: The payer of income withhold certain percentage from the income of the payee and…

Q: ince the computation of corporate income tax is based on a certain percentage, as the case may be,…

A: Solution Since the computation of corporate income tax is based on a certain percentage, as the case…

Q: Explain the differences between a tax credit and a tax deduction. Which is better? List three…

A: Tax credit and tax deductions are often considered same but they are not interchangeable even though…

Q: sales tax system most commonly uses whi Multiple Choice The proportional tax rate structure The…

A: the tax is imposed on the sale of any product is called Sale Tax. this product can be Anything…

Q: Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer.…

A: Up to $14,200 10% $14,201 to $54,200 $1,420 + 12% of the amount over $14,200 $54,201 to $86,350…

Q: ansaction below, determine the tax type whether it is subject to Basic Income Tax (BIT),  Final…

A: Withholding tax is the tax which is deducted by the person incurring expense. When salary is paid by…

Q: The marginal tax rate is equal to Question 11 options:the change in the tax payment divided by the…

A: Marginal tax is the tax which you pay on an additional amount of incomes. This marginal tax is very…

Q: It is a tax on the value of an article increased at each stage of its production or distribution.…

A: Excise tax is a type of indirect tax employed in case of specific goods (eg. fuel, tobacco,…

Q: This is a prerogative of escaping or diminishing a tax liability through availment of ways allowable…

A: To reduce tax liability, two methods are there. One is tax evasion and other is tax avoidance. Tax…

Q: Which of the following statements is most correct? a.Tax preference items for the alternative…

A: Tax preference items are the types of income that are tax-free and helps in reducing tax.…

Q: When the law itself provides for non-payment of taxes, such tax escap known as: a. Tax evasion b.…

A: Introduction:- Taxation plays vital role in every organization. Every company desire to reduce tax…

Q: A deductible temporary difference leads to the payment of:   Select one: A. less tax in the…

A: The question is related to Taxes on Income.There are two types of deferred tax- (i) Deferred tax…

Q: a) Determine the marginal tax rate applicable to each situation. b) Determine the average tax rate…

A: Given in the question: Taxable Income Next Year  $20,00,000.00 Additional Taxable…

Q: Of the If taxable income is The tax is this A tax rate schedule is But not Plus given in the table.…

A: US Taxation - The USA has separate federal, local and state governments with taxes imposed at each…

Q: Real property tax is an example of: Group of answer choices Property tax Excise tax Privilege tax…

A: Real property tax is the tax on real property like land and buildings, improvements, machinery, etc.…

Q: The total tax on an income of $256,600 is:    Select one: a. $96,194 b. $113,900 c. $112,944 d.…

A: First 50,000 will taxed at 15%, Next 25,000 will taxed at 25%, Next 25,000 will be taxed at 34% and…

Q: Why is income the basis for tax? Explain concisely in 3-5 sentences.

A: Basis means anything that the govt uses to compute the tax.

Q: Which of the following is tax credit or tax deduction or none:   A reduction of the income subject…

A:

Q: Explain the difference between direct and indirect tax

A: Introduction: Tax refers to an individual's simple duty to contribute their resources. It is imposed…

Q: Explain further the steps in determining the income tax. Use the space provided for your answer.…

A: Tax is a charge which is levied on the taxable income of a taxpayer. A taxpayer has to pay the tax…

Q: earnings below a certain threshold are taxed. What is your opinion on the fairness of this tax?

A: social security tax is such type of tax in which a percentage of the gross wages that most of the…

Q: Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Name…

A: (a) Filing Status - Head of the Household (b) Taxable Income - $ 195,300 (c) Since Taxable Year is…

Q: Propose a tax measure in order for the government to eaarn addtional revenue with emphasis ont he…

A: Since you have asked two questions but we provide solution to one question only kindly resubmit…

Q: hen different types of income are subjected to common tax rate, the tax system is described as…

A: Answer: Tax system is the concept or foundation basis which any tax rates are introduced.

Q: Which one of the following represents the tax payable? a. Tax payable is the balance of the total…

A: Tax is the amount that is to be paid on the income by individuals, firms and entities to the…

Q: 1. Name three types of tax rate structure and give examples.

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Which of the following statements is correct? O a. A tax offset can result in a refund if it relates…

A: The tax means the amount that a taxpayer provides to the government. The government uses this amount…

Q: ral unemployment tax l Security tax care tax ral income tax

A: Payroll tax expense is the employers contribution  or share for payroll taxes for his employees. The…

Q: Tax deductions differ from tax credits because:   A. deductions affect relative prices, credits do…

A: Tax Deduction:-Tax Deduction means when there is subtraction in the taxable income of a person under…

Q: Select all of the applicable taxes for the transaction. (you may answer more than 1 choice) O…

A: Donor’s tax is imposed upon any individual, regular or juridical, occupant or non-inhabitant, who…

Q: A tax that requires a higher-income person to pay a higher percentage of his or her income in taxes…

A: Explanation Proportional tax rate is a system in which same tax rate is implied to all the tax…

Q: Explain and what is the calculation of the following. Medicare Levy Surcharge Total Tax Liability…

A: Medicare Levy Surcharge (MLS) : The Medicare Levy Surcharge (MLS) is an additional tax on your…

Q: If a government wants to obtain the maximum tax revenue it should   A. use static tax analysis.   B.…

A: Answer: C) The government should strive to assess and increase tax rate to maximize the revenue. The…

Q: Vhich of the following allow a tax filer to legally reduce the amount of tax owed? Select all that…

A: Question 4: Legal Exemptions/deductions/Credits available to the tax payer are: a) The Standard…

Q: ‘Income tax shall be paid on taxable income times tax rate.  It makes sense to pay income tax for…

A: The tax is charged on the taxable income as per the principles of the regulation authorities and any…

Q: A. Define and give examples of direct taxation and indirect taxation.  B. Define and give examples…

A: Tax accounting is used for the computation of tax that must be paid by the company. It serves the…

Q: Basic community tax is an example of while income tax is a kind of O Privilege tax; capitation tax…

A: Basic community tax is an example of Privilege tax while income tax is a kind of Capitation tax.

Q: 1Which of the following can be delegated outside the legislative branch? *   Determining the purpose…

A: solution Note : AS per the Q&A guideline we are required to answer the first question only .…

Q: Which of the following is true?   i. The general percentage tax is an explicit tax on consumption.…

A: VAT is a form of sales tax. It is a form of indirect tax on transfer of goods or services or both.…

Q: 1.Determine the business tax applicable for the following independent assumptions. Put a check mark…

A:

Q: Briefly explain the precise difference between a refundable vs. a nonrefundable tax credit. Provide…

A: A refundable tax credit is a tax credit that is refundable. First, a refundable tax credit is used…

Q: The following needs to explain further the steps in determining the income tax. Jse the space…

A: SOLUTION-    TAX IS A COMPULSORY FINANCIAL CHARGE OR SOME OTHER TYPE OF LEVY IMPOSED ON A TAX PAYER…