What tax would need to be assessed on Venita to make the tax horizontally equitable?

Q: How is the theory and the basis for taxation is different?

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: Distinguish between Direct and Indirect taxes giving the various examples where necessary.

A: Taxes are the compulsory obligations to be paid by the individuals to government. It can be levied…

Q: Why is fringe benefit tax important?

A: Fringe benefits are those compensation and benefits provided to the employees which are other than…

Q: sic Re

A: Basic Real Property Tax Property tax is the amount that is paid by the land owner to the municipal…

Q: Asia owns stock that is listed on the New York Stock Exchange, and this year the stock increased in…

A: Economic income refers to the income earned by any individual or corporation that may be realized or…

Q: What is the difference between favorable and unfavorable book -tax differences?

A: Whenever reconciliation book earnings to taxable income, favorable book-tax differences were indeed…

Q: What effect does intraperiod tax allocation have onreported net income?

A:

Q: What is the difference between recognition and realization of a deferred tax asset?

A: A deferred tax asset is a balance-sheet item that decreases a company's taxable income in the…

Q: What is the logic behind allowing tax loss carrybacks/carryforwards?

A: Logic behind allowing tax loss carrybacks and carryforwards: A tax loss carryback permits a company…

Q: Regressive tax takes a higher proportion of a poorer person’s income than of a richer person’s…

A: Tax is the obligation on the people which is charged as a mandatory fee by the government or…

Q: what is the disadvantage of not providing deferred tax?

A: Deferred tax is an accounting method used to recognize the effect of taxes on the financial…

Q: Two reason why expenses may not be deductiable for income tax/ corporatiion tax purposes.

A: Deductible expenses: These include all the expenses that are allowed to be deducted from the gross…

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: Income tax is least likely to impact on the resultant entitlement

A: Entitlement:Distribution or automatic exercise of a contractually or legally granted absolute…

Q: What are the principles of a sound tax system? Briefly explain each

A: Introduction:- The tax system is described as a legally controlled system of public relations based…

Q: What is the appropriate level of taxation?

A: Market efficiency and inefficiency depends on various factors like consumer demand, supply, rate of…

Q: What is ‘fringe benefit tax’(FBT)? Explain atleast five main salient features of the FBT?

A: Fringe Benefit Tax: It refers to a tax which an employer needs to pay on the value of fringe or…

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: Distinguish between marginal and average tax rates

A: The tax rate at the margin: Through the use of the marginal tax rate, the federal taxation system…

Q: What are the situs rules on income tax situs on sales of goods?

A: Income tax:A tax charged on the income earned by the individual or corporates by the central…

Q: What is the valuation allowance for deffered tax asset

A: Deferred tax asset(DTA) arises due to payment of higher tax in current year due to the variance…

Q: What is the sales tax? Is it an expense or a liability?

A: Sales tax is the tax on sales which is levied by the government. However, sales tax is an indirect…

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: For income tax purposes, how is affiliated group defined?

A: Tax:   It refers to a compulsory charge imposed by the government on all the taxpayers of the…

Q: May an exaction be both a tax and regulatory fee

A: First of all we need to understand that Tax and Regulatory fees both are independent and can not…

Q: What valuation allowance is used with respect to a deferred tax asset?

A: Deferred tax asset: A deferred tax asset refers to an asset that is recognized due to a temporary…

Q: Describe the Replacement Analysis with Tax Considerations?

A: Introduction: Capital budgeting is one of the important techniques used to determine the value that…

Q: What are the three different kinds of income tax systems? (Explain each)

A: Income tax is a direct tax which is levied on the income. Taxes are the fees which are charged by…

Q: How can we use Replacement Analysis with Tax Considerations?

A: Using of replacement analysis with tax consideration help the investor in order to select the best…

Q: Can the effective rate of tax be negative? Why? or Why

A: it is sometimes possible that effective tax may be negative.This is but rare cases but sometimes it…

Q: 1. ntiate between a property tax and transfer tax.

A: please like the answer your response matters  MEANING OF TAX:-It refers to the amount paid to the…

Q: Explain why permanent differences have no deferred tax consequences.

A: A permanent difference is a business transaction that is reported differently for financial and tax…

Q: What is ‘fringe benefit tax’ (FBT)? Explain at least five main salient features of the FBT?

A: WHAT IS 'FRINGE BENEFIT TAX' (FBT) ? FRINGE BENEFIT TAX IS IS THE TAX LEVIED ON ANY CONSIDERATION…