Value Added Tax and Instructor Explanation

Hoffman, W., Maloney, D., Raabe, W., & Young, J. (2013). Federal Taxation Comprehensive Volume. (36 ed.). Ohio: South-W

Facing tough budget decisions in advance, various cities, and county have two options: raise taxes or reduce services. Furthermore, there has not been a tax increase in a long period, county officials have alleged. They recognized this day would come. The administrator distressed and diagnosed the circumstances where they provide the primary inspection and repairs.

This was also claimed as a benefit of the Texas Lottery and look what happened to that? It is all well and good to say something will work but until it is in place, would one not know for sure. Unfortunately, the cost of implementing such a personal tax would blow the benefits right out of the water. It would be not be cost effective to propose such a tax, since the start up costs would be prohibitive. Both counties and cities receive huge revenues in their collection of sales tax. To consider cutting that back would be

Explain the argument over whether or not this should be considered a tax instead of

Explain how built-in (or automatic) stabilizers work. What are the differences between proportional, progressive, and regressive tax systems as they relate to an economy’s built-in stability?

According to Singers(August 24,2017), ITEP’S (July, 2017), (July, 2017),(August 2011), and(December 2011), higher sales and gas tax in Connecticut have consequences and a solution proposed to reduce tax burden on low income family. Based on the readings and my understanding of this topic, I conclude that increasing sales and gas taxes in Connecticut to fix a budget crisis will be financially harmful to low income families and needs to be address with the new policy. Singer(August 24,2017), pointed out that, Connecticut legislators are deciding to increase the sales tax from its current level to 6.85 percent to fix a budget deficit, estimated to reach $3.5 billion in two years and improve state aid to towns. Based on Tax Foundation studies,

Subject: Tax treatment of reacquired property in 2013 and tax treatment of resale of that property in 2014.

3) On what basis could County argue that it is conforming with the criterion at 1715(3)? On what basis could the state agency argue that County's application in nonconforming with the criterion? In your opinion, which side has the more persuasive argument? Why?

My clients, Charlene and Alton Dutro, have lived in their home for two and one-half years. However, the Dutros choose to remodel and enlarge their house. Consequently, their architect cautioned that increasingly strict building and permit restrictions had been in effect since a decade ago when the house was built. As a result, the Dutros decided to demolish their house and rebuild on the property. They did not reside in the house but instead sold it and realized a gain of over $500,000. For calculation on their Federal income tax return, the Dutros reduced the realized gain that exceeded the $500,000 by the $500,000 exclusion of § 121. The IRS issued an income tax deficiency notice because they noted that the Dutros did not satisfy the two-out-of-five years requirement under § 121 (a). Consequently, the present issue is to determine who is correct in this situation. Therefore, I must ascertain if the Dutros satisfied this requirement under § 121 (a).

Part III: Discuss the tax consequences of contributing cash, property, and/or services to the new entity.

5. From where did the State form the $20,000 for 10 acres of land? Under which law is this?

…on the ballot this November are two one-half percent (or 0.5 cent per dollar) sales surtax questions. One 0.5 cent sales surtax is proposed to fund countywide transportation projects and the other 0.5 cent sales surtax is proposed to fund infrastructure projects. Together, they represent a one percent sales surtax, which is the equivalent of one penny per dollar spent. These two ballot

c) Tax Rate: Use of a tax rate derived from the summation of state and statutory taxes instead of the firm's marginal tax rate

Sales and tax rates are stable in some states, but tend to be unpredictable in others. Counties, cities, school districts, and townships are continually expanded, becoming established and given effect in the United States. In some locations, sales and use tax rates are even more susceptible to change because of political influence, this can cause rates to even change as recurrently as a monthly

Though it may not be open to a State legislature to make provision for the recovery of an amount which is not a tax under Entry 54 of List II in a law made for that purpose, it would still be open to the legislature to provide for paying over all the amounts collected by way of tax by persons, even though they really are not exigible as tax, as part of the incidental and