Leo's townhouse has a market value of $310,000. The property in Leo's area is assessed at 40% of the market value. The tax rate is $145.10 per $1,000 of assessed valuation. The tax for Leo is      A. $7,999.40. B. $16,992.40. C. $7,999.30. D. $17,992.40.

Q: In the city of Winnipeg, the total property tax is calculated on two separate property taxes: a. the…

A: Given data is as follows: Market value = $200,000Tax policy = 45%City mill rate = 14.6School board…

Q: Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. John Gercke is an employee…

A: SUTA Tax is a state unemployment tax which is imposed by employer on the employee.

Q: You own an a townhome with an assessed value of $184,100. The tax rate is $2.20 per $100 of assessed…

A: Property taxes are paid on the assessed value of property.Property tax = Assessed value*Tax/Par…

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A: There are various way by which an individual can earn income but as per income tax the incomes…

Q: ABC Corp. is a VAT-registered lessor of properties. Details of the properties are disclosed below:…

A: Value-added tax (VAT) functions as an indirect tax operating at different stages of production and…

Q: Last year, Marylynn opened Baron’s Appliance Sales and Service. Her tax accountant provided the…

A: a) Taxable income is derived by subtracting expenses and depreciation from gross income. Taxable…

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Q: 1a. Choi owns a four-unit apartment building with a fair market value of $248,000. Property in the…

A: Calculate the assessed value of the property: Assessed value = 40% of market value Assessed value =…

Q: Rental House: Purchase price $79,000, ( Remaining Loan Balance: $66,102) Depreciation Costs…

A: The term like-kind exchange means a tax-deferred transaction that allows for the disposal of an…

Q: Using the following table, calculate the taxes for an individual with taxable income of $25,800.…

A: Tax is the amount of money paid by a tax payer to the appropriate tax authorities on the basis of…

Q: Determine the tax rate. Round to the nearest cent or nearest hundredth. Assessed property value:…

A: The tax rate can be determined in the following manner:  (Expenses to be funded by property…

Q: If you live in a state that needs to collect $18 million in property taxes and has a tax rate of…

A: Taxable value here will be  Taxable value =Tax amountTax rate

Q: A typical home in Waukesha County had an assessed value of $218,700. The tax rate is $2.21 per…

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Q: Pyri Flours, a sole proprietorship, owes $9,741 in taxes on taxable income of $61,509. If the firm…

A: Average rate of tax =

Q: (04-6) Given the following information, calculate the total annual tax liability of the homeowner:…

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Q: How much must Deon pay in income tax for last year?

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Q: 2. The market value of Ashley and Beth's home is $337,000. The assessed value is $287,000. The…

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Q: You have some property which has an assessed value of $240,900. If the tax rate is 56.40 mills,…

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Q: You own a townhome with and assessed value of 182,300. The tax rate is $2.20 per $100 of assessed…

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Q: Q2a.Define the term ad valorem tax. What are the three criticisms of the property taxes of local…

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A: Given: Property tax rate = 0.063 Property tax = $8,323

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A: Answer: Value of portion used in lease= $18923.8 Tax rate = 14.3% Down payment = $1527

Q: The home of Bill Burton is assessed at $80,000. The tax rate is 18.50 mills. What is the tax on…

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Q: SAYPI

A: Here the corporate tax is individual income tax slabs and not flat rate on the…

Q: 11. Chuck Wells purchased a condominium with a market value of $125,000 in The Villages. The…

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Q: A residence has a market value of $250,000. The municipality's tax policy is set at 80%. Real estate…

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Q: Brittany purchased an industrial lot in Sudbury for $1,100,000 and it was assessed at 65% of its…

A:

Q: A new home was sold for $400,000 in Hillsborough County. The buyer took out a mortgage for $300,000…

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Q: Given the following information, calculate the total annual tax liability of the homeowner: market…

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Q: Ms. Dika Kayaten has a 2 hectare agricultural land located in a province with a fair market value of…

A: We know that Ad valorem tax is also known as Property tax. In philippines if there is a unutilised…

Q: P800,000. Compute the capital gains tax:

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Q: Firm E must choose between two alternative transactions. Transaction 1 requires a $9,150 cash outlay…

A: After tax cost refers to the amount that will be deductable from revenue after appliying tax rate to…

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.