A good tax structure has five characteristics. a. Briefly discuss the five characteristics. b. Using the five
Question:
A “good” tax structure has five characteristics.
a. Briefly discuss the five characteristics.
b. Using the five characteristics, evaluate the following tax structures:
1. Federal income tax
2. State sales tax
3. Local ad valorem property tax
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
a The five characteristics of a good tax are equity certainty convenience economy and simplicity Equity refers to the fairness of the tax to the taxpa...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Question Posted:
Students also viewed these Business questions
-
Discuss five characteristics of good research.
-
A good tax structure has five characteristics. a. Briefly discuss the five characteristics. b. Using the five characteristics, evaluate the following tax structures: Federal income tax State sales...
-
Define market and briefly discuss the characteristics of a good market.
-
In Problems 1158, perform the indicated operation, and write each expression in the standard form a + bi. i 7 (1 + i 2 )
-
Derive the expressions for the mean and variance of a geometric random variable with parameter p. (Formulas for infinite series are required.)
-
The parameters of the transistor in Figure P4-17 are \(\beta=100\) and \(V_{\mathrm{Y}}=0.7 \mathrm{~V}\). Find \(i_{\mathrm{C}}\) and \(v_{\mathrm{CE}}\) for \(v_{\mathrm{S}}=0.8 \mathrm{~V}\)....
-
During your examination of the financial statements of the Gary Manufacturing Company for the year ended December 31, 19X0, you find that at January 1, 19X0, the company has installed the following...
-
Assume that the following quantity discount schedule is appropriate. If annual demand is 120 units, ordering costs are $20 per order, and the annual holding cost rate is 25%, what order quantity...
-
Bao had $72,168 of income from wages and $201 of taxable interest. Bao also made contributions of $2,300 to a tax-deferred retirement account. Bao has 2 dependents and files as head of household....
-
Trini Company set the following standard costs per unit for its single product. Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80%...
-
The three different levels of government (federal, state, and local) must impose taxes to carry out their functions. For each of the types of taxes below, discuss which level of government primarily...
-
Two commonly-recognized measures of the fairness of an income tax structure are horizontal equity and vertical equity. a. Discuss what is meant by horizontal equity and vertical equity as it pertains...
-
Which buffer system is the best choice to create a buffer with pH = 7.20? For the best system, calculate the ratio of the masses of the buffer components required to make the buffer. HCH302/KCH3O2...
-
Consider 1 year of a utility company's financial results. The company pays income tax of \(\$ 6,000,000\), where the tax rate is 40 percent. Debt is \(\$ 75,000,000\) and the interest rate on debt is...
-
Uncertainty can impact many elements of an engineering economic analysis. Given the list of factors below, rank them from most to least uncertain, and briefly justify why you ranked them in that...
-
Virginia Natural Gas Company (VNGC) must provide a regulation and metering unit to a new subdivision near Norfolk. They already own right-of-way and must now install the equipment at a cost of \(\$...
-
Walking up a set of stairs and running up the stairs require approximately the same metabolic energy. Explain why youd expect this to be the case.
-
If you want to jump as high as possible, its best to move downward quickly to a deep crouch, stretching tendons and muscles, before pushing off and leaving the ground rather than simply pushing off...
-
Why is understanding cultures and subcultures so important in marketing?
-
The trade-off theory relies on the threat of financial distress. But why should a public corporation ever have to land in financial distress? According to the theory, the firm should operate at the...
-
What conditions must be met by a married couple before they can file a joint return?
-
Explain what is meant by the phrase maintain a household.
-
Under what circumstances, if any, can a married person file as a head of household?
-
Blue Ships Ltd (BSL) owned a vessel (Blue Whale) which is chartered to Black Eagle Co (BEC). They agreed to the Standard Boat Charter clauses which contents required BEC to ensure insurance covered...
-
Able raises llamas on his ranch. Many of the llama are very valuable because of their excellent coats. His most prized llama wanders off the ranch. Able is concerned because llamas face many natural...
-
You own a hotel in a fairly quiet neighborhood west of the City of Boston. Except for an occasional disturbance, petty theft in the hotel room, disorderly conduct in the bar or restaurant, there have...
Study smarter with the SolutionInn App