Which tax is paid on individual income from sales of assets? a-sales tax b-excise tax c-estate tax d-capital gains tax

Q: Use the information in the table below to answer the questions that follow. Tax rates for…

A: Tax refers to the compulsory charges levied by the government on its citizen and the citizen. The…

Q: 1.) Who bears the burden of property taxes ? Explain the incidence of property tax 2.) Who bears the…

A: PROPERTY TAX As a real estate ad valorem tax, property tax can be considered a regressive form of…

Q: Income tax is a a. Local tax b. Special tax c. Tax on persons d. Regressive tax e.…

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

Q: States with a corporate income tax are at risk O a) of being found in violation of federal law O b)…

A: Corporate Income tax A corporate tax is basically a type of tax that is imposed on a company's…

Q: 9.which flows represent taxes? a. C and D b. E and F c. A and B d. D and E

A: In a market, there is a cyclical flow between firms, households, and government for an exchange of…

Q: 2018 Federal Income Tax Brackets (pre-TCJA) Taxable Income Tax Rate $0-$9,525 $9,526-$38, 700…

A: The disposable income is calculated by subtracting income tax from the total income. $77,000 falls…

Q: Why does a corporation's state income tax cost depend on its marginal income tax rate for federal…

A: Income tax: It is an assessment paid by people or elements relying upon the degree of income or…

Q: 2020 Tax Data Tax Bracket Marginal Tax Rate $0-9,875 10% $9,876-40, 125 12% $40,126-85,525 22%…

A: The tax amount on the income of $200000:   Tax amount =sum of ( income in the tax bracket * tax…

Q: Suppose that Alberta imposes a sales tax of 10 percent on all goods and services. An Albertan named…

A: Given the price of blower = $200 Sales tax = 10% Price after sales tax = $220

Q: Indirect taxes: Definition Explain why governments impose indirect taxes. Distinguish between…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: How much federal income tax will you owe? Instructions: Enter your answer rounded to 2 decimal…

A: Answer e) Federal Tax owed= 1st slab tax rate X $19400 + 2nd slab rate X excess of taxable income…

Q: You decide to work part-time at a local clothing store.  The job pays $8.50 per hour and you work 16…

A: The income would be the total income which is used for producing the various goods and services. The…

Q: What is excise tax? value added tax? price floors and price ceilings?

A: A government intervenes and regulates a market using various policies to influence market…

Q: - The government budget has`a revenue gets financed by: (A) Borrowing (B) Disinvestment (C) Tax…

A: According to the given question Actually in simple words we can say that revenue deficit occurs…

Q: Table 12-10 On Taxable Income... The Tax Rate is ... Up to $8,375 10% From $8,375 to $34,000 15 From…

A: Taxable income: It is the total income onto which a tax slab applies based on which an individual or…

Q: . How ao most states inance tneir capitai buaget? sales or excise taxes O income and property taxes…

A: . "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Government spending $515 Tax revenues Year 1 $400 Year 2 Year 3 459 442 529 482 Refer to the above…

A: National Public debt is the burden on government if the expenditure exceed the revenue , so they…

Q: Define direct and indirect taxes

A: Since you have asked multiple questions, we will answer only first question. If you want some…

Q: 7.Which flows represent taxes? a. C and D b. E and F c. A and B d. D and E

A: Introduction In the modern economy, money is used in the process of exchange. In the monetary…

Q: The largest source of federal government revenue is which of the following? Other royalties and…

A:

Q: ssume an MPS of 0.2, an increase in autonomous (lump-sum) tax of $40 would lower income by a. $40 b.…

A: Fiscal Policy has a multiplier effect which implies that change in government spending or taxes will…

Q: A firm can borrow at an interest rate of 5%. Its marginal tax rate if 40%. What is its cost of debt?

A: Interest rate = 5% Marginal tax rate = 40%  We need to calculate the cost of debt

Q: What would be your federal income tax if your taxable income was $108,000.00? $_____________   What…

A: Given data:

Q: Question 6 Here is a hypothetical income tax schedule expressed in nominal terms for the year 2015:…

A: An income tax is a tax levied on persons or companies based on their earnings or profits. In most…

Q: Explain the benefit principle and ability to pay approach with regard to tax equity. Which approach…

A: Benefit principal theory of taxation - In this theory citizens of a country are asked to pay tax…

Q: 23. Which of the following is an indirect tax? A tax on company profits consumer goods and services…

A: Tax refers to the payment made by a consumer or producer to the government of a nation. It is used…

Q: 9. If your_______rises as you make _________income, your taxes are progressive.total taxes,…

A:

Q: Discuss the principles of a sound tax system

A: A sound tax system can be described as a good system of taxation that meets the needs of all canons…

Q: The largest source of revenue for the federal government is ? A.corporate income taxes. B. the…

A: The largest source of revenue for the federal government is Individual income taxes.

Q: how are consumption taxes different from income and property taxes?

A: Taxes are compulsory payments to governments without expectation of direct return or benefit to the…

Q: 16) If households pay $1,000 in interest payments and receive $1,200 in interest, wages equal…

A: Gross domestic income refers that it is total income received by all sector of an economy , so here…

Q: P B 24. Which of the following is a regressive tax? A Property tax. B. Federal Income tax. C. State…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is the relationship between taxes and government transfers? (Hint: Why are transfers considered…

A: A transfer payment (sometimes known as a government transfer or just a transfer) is a method of…

Q: 1. A very famous restaurant bought a meat processor 10 years ago for $50K. Its current book value…

A: Price of meat processor = $50k Current value = $10k Offer value = $60k Income tax on business income…

Q: Consider the following tax structure: Income Bracket Marginal Tax Rate - $6,000 $6,000 $25,000 $0 -…

A: Answer; a. Tax = $ 29,800   b. Average Tax Rate = 33.11%   c. Highest marginal Tax Rate =…

Q: 5. Explain the difference between an excise, corporate, payroll, & income tax rates.

A: We will answer only the first question.

Q: What is the difference between a general sales tax and an excise tax?

A: A tax is a mandatory fee collected by the governments from individuals, firms and businesses to…