Differentiate the following using the given format:

1. Tax v. Debt

2. Tax v. Toll

3. Tax v. License Fee

4. Tax v. Penalty

Please answer in detailed.

Answer rating: 100% (QA)

1 Tax vs Debt Tax Tax is a mandatory contribution imposed by the government on individuals or entities to fund public services and government activities Taxes are usually based on income property good... View the full answer