An example of direct taxes are property taxes. True False

1. What are the Five most common Types of Taxes? Give Examples.

Why are sales taxes considered regressive?

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?

5 The largest source of government revenues is ________.   Select one: a. personal income taxes b. Social Security taxes c. corporate income taxes

The government implements a negative income tax plan with a guaranteed minimum income of $5,000 and a phase-out rate for payments of 50%. Complete the following table by calculating the negative tax and total after-tax income for each family income given. (Note: Suppose that any income above $10,600 would pay a positive tax.) Family Income (Dollars) Negative Tax Total After-Tax Income (Dollars) (Dollars) 0 2,600 4,600 6,600 8,600 10,600

The largest source of revenue for the federal government is ? A.corporate income taxes. B. the sales tax C. excise taxes D. individual income taxes E. the value added tax

Which is smaller in value, a $7,500 tax deduction or a $7,500 tax credit? Explain why. Please No more than three sentence. keep it simple.

Excise tax is not applied to: Excise tax is not applied to: None of the answer choices are correct. Wine Distilled spirits Beer Doughnuts

Suppose you bought a digital camera for a total purchase price of $279.99. If state taxes were 5.4%, what was the amount of the sales tax? (Round your answer to the nearest cent.)