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: FUTA tax is paid by:

A: FUTA TAX: It is payroll tax paid by employers of the organisation.

Q: Which of the following is not tax deductible? Gift tax Local income tax Real estate tax…

A: The objective of the question is to identify which among the given options is not tax deductible.…

Q: Property taxes are considered: a. imposed tax revenues. b. derived tax revenues. c. voluntary…

A: Lets understand all the options. Imposed tax revenue is a revenue generated by the government based…

Q: Basic community tax is an example of _______ while income tax is a kind of _______. A. Poll tax;…

A: Option (b) is correct. National tax ; local tax  As per my knowledge income tax as it being paid  to…

Q: Which of the following is not a goal of the tax law? a.Economic goals such as reduction in…

A: Solution: Following are the goal of tax law: 1. Economic goals such as reduction in unemployment. 2.…

Q: The unified tax credit can be applied against the:

A: The objective of the question is to understand against what the unified tax credit can be applied.

Q: Taxable income is a tax accounting term and is also referred to as income before taxes true or…

A: Tax Accounting is a distinct branch of accounting dedicated to managing tax-related aspects for…

Q: Explain the Revenue Related to Deferred Tax Liabilities.

A: Deferred tax liability is explicitly made when an expense commitment gathered in one budgetary year…

Q: Tax rates other than the current tax rate may be used to calculate the deferred income tax amount on…

A: Taxation is the process by which governments collect money from individuals and businesses to fund…

Q: When DTA reverses, income tax payable is reduced, while when DTL reverses, income tax payable is…

A: Temporary differences are differences between book income and taxable income of the business. These…

Q: What is a tax? And explain why it is required for an economy. c)2. List any three 3. Distinguish the…

A: 2. List  any three sources of tax legislations.Answer: Three Sources of Tax Legislations…

Q: The federal income tax is

A: A progressive tax is the tax rate which increases as the income rises. Integrative tax is the tax…

Q: The tax rate that is applied against a prepayment penalty is the Group of answer choices  1)…

A: On the basis of a slab scheme, the Indian income tax levies tax on individual taxpayers. The slab…

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: At the federal level, the single most important tax, accounting for slightly less than half of…

A: The correct answer is:a. personal income tax.Explanation:At the federal level, the personal income…

Q: In almost all cases, making contributions to an RRSP will provide the deferral of income tax. In…

A: Introduction: RRSP (Registered Retirement Savings Plan): A (RRSP) is a retirement funds plan where…

Q: deferred tax asset and deferred tax liability

A: Deferred tax is the tax arises due to the differences between accounting income and taxable income.…

Q: Which tax does not have a wage base​ limit?   A. FICA−Medicare   B. Federal unemployment tax   C.…

A: