Explain the four factors where the premium tax credit (PTC) applies.
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- Explain the four factors where the premium tax credit (PTC) applies.
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- The unified tax credit can be applied against the:1. Name three types of tax rate structure and give examples. 2. What type of tax is sales tax? 3. Define and compare these terms: Average tax rate and Marginal tax rateDistinguish between Direct and Indirect taxes giving the various exampleswhere necessary.
- Define the following concepts: (i) Tax base (ii) Tax bracket (iii) Marginal tax rate (iv) average tax rate (v) progressive tax rate (vi) regressive tax ratewhat are the two components of income tax expenseDefine each of the following terms: h. Progressive tax; taxable income; marginal and average tax rates