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- For tax year 2018 a married couple filing jointly has a taxable income of $120,000. How much do they owe in taxes? (do not include the $ in your answer)There are a variety of taxes that a person pays when buying an airline ticket. One tax is called the LUST fuel tax. LUST stands for leaking underground storage tank. The LUST tax is to establish a trust fund to provide money for oversight and corrective action against owners of leaking underground storage tanks and provides money for cleanup of LUST sites where the owner or operator is unknown. Is it efficient for customer’s of airlines to beforced to pay the tax?What is excise tax? value added tax? price floors and price ceilings?
- The per-unit tax on a good is the Select one: a. difference between the list price and the actual price paid by the buyer. b. licensing fees and other business taxes paid by sellers, averaged over the total quantity of goods sold. c. difference between wholesale and retail prices. d.difference between the total price paid by the buyer and the price received by the seller.The current social security tax by law is set at 6.2% with a wage based limitation of $113,700. True FalseFind the marked price and sales tax. Total price Sales tax rate Marked price Sales tax $396.77 6.8% Question content area bottom Part 1 Total price Sales tax rate Marked price Sales tax $396.77 6.8% $enter your response here $enter your response here (Round to the nearest cent.)
- When an excise tax is levied on sellers and they are responsible for paying the tax to the government, this will have no effect on buyers since they don’t have to directly pay the tax. Select one: True FalseWhat would not result from replacing the income tax with consumption tax Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.A mobile phone company has plans to start a new line of smartphones. It will require large advertising expenses, leading to operating losses of $36 million next year. Without the new smartphone line, the company could expect a pre-tax income of $73 million from operations next year. Their marginal tax rate is 28%. Compute the dollar amount of taxes the company will have to pay next year after launching the new smartphone line.
- Tax is a type of revenue receipts True/FalseAkshay is single and lives in Thunder Bay. Akshay earned $60,000 in 2013. The following table shows the federal tax rate for individuals in 2013. NOTE: Marginal Tax Rate options are (15, 22, 26, 29) Taxes Owed options are (8983, 10151, 11383, 12579, 13174) Average Tax Rate options are (15, 17, 19, 21, 22)Lump-Sum Tax The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of hamburgers. • A tax of $1 per burger, paid by producers of hamburgers. please help