Which of the following statements is not correct? * The “Benefit-Protection Theory” is the source of the “Doctrine of Symbiotic Relationship” while the Theory of Taxation is based on the Lifeblood Doctrine. The power to tax is unlimited, comprehensive, plenary and supreme that it can reach over into any jurisdiction to seize upon person or property. The Constitution grants exemption from income tax on its revenues and from real property tax on assets used actually, directly and primarily for educational purposes. Tax law can be imposed for a special purpose and not merely aimed at revenue collection. A person cannot object or resist the payment of taxes solely because no personal benefit to him can be pointed as arising from the tax.
Which of the following statements is not correct? * The “Benefit-Protection Theory” is the source of the “Doctrine of Symbiotic Relationship” while the Theory of Taxation is based on the Lifeblood Doctrine. The power to tax is unlimited, comprehensive, plenary and supreme that it can reach over into any jurisdiction to seize upon person or property. The Constitution grants exemption from income tax on its revenues and from real property tax on assets used actually, directly and primarily for educational purposes. Tax law can be imposed for a special purpose and not merely aimed at revenue collection. A person cannot object or resist the payment of taxes solely because no personal benefit to him can be pointed as arising from the tax.
Chapter12: Tax Administration And Tax Planning
Section: Chapter Questions
Problem 12P
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Question
MC: Topic: Income
Which of the following statements is not correct? *
- The “Benefit-Protection Theory” is the source of the “Doctrine of Symbiotic Relationship” while the Theory of Taxation is based on the Lifeblood Doctrine.
- The power to tax is unlimited, comprehensive, plenary and supreme that it can reach over into any jurisdiction to seize upon person or property.
- The Constitution grants exemption from income tax on its revenues and from real property tax on assets used actually, directly and primarily for educational purposes.
- Tax law can be imposed for a special purpose and not merely aimed at revenue collection.
- A person cannot object or resist the payment of taxes solely because no personal benefit to him can be pointed as arising from the tax.
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