Which of the following is a significant revenue source for state and local governments, but not the federal government in the United States? a-payroll taxes b-income taxes c-corporate taxes d-property taxes

Q: One of the three basic principles of a sound tax system is “fiscal adequacy”. Define this term,…

A: A nation's economy and national exchequer can benefit greatly from a sound tax system. The country's…

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: Which of the following is a source of Federal Revenue?     A. Personal Income Tax   B. Payroll Tax…

A: Federal Government makes expenditure and for meeting the needs of expenditures, federal government…

Q: 14. What is the agency responsible for collecting taxes at the O the Federal Tax Office the…

A: The agency responsible for collecting taxes at the federal level is the Internal Revenue Service.

Q: In a response to public outcry over the Internal Revenue Service's (IRS) extent and abuse of power,…

A: Tax is defined as a compulsory financial burden imposed on citizens by the government in specified…

Q: Giving reasons classify the following into direct and indirect tax (1) Wealth tax (2) Value…

A: # Taxes can be broadly classified into two segments which are direct tax and indirect tax. as the…

Q: 4. What Factors Determine Who Bears the Burden of Taxation?

A: Tax incidence is an approach in which the burden of tax is divided between sellers and buyers.

Q: Calculate the effects on markets and stakeholders of indirect taxes

A: The economics as a study is based upon the basis of the scarcity of resources in the economy. The…

Q: 17. To which of the following government programs would a single, cross-country truck driver with no…

A: We will answer the first question since the exact one was not specified. Please submit a new…

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: State and explain the principles of taxation that would be used in designing and implementing any…

A: A taxation regime plays an important role in the economic development and economic growth of a…

Q: Which of the following is a significant revenue source for state and local governments, but not the…

A: Taxes are the amount charged by the government for the services provided and are the means of…

Q: Which of the following is not a form of government revenue? a) b) Excise duties Relief grunts given…

A: The correct answer is: Option (b) Relief grants given to the poorRelief grants given to the poor are…

Q: 13) The primary source of revenue of the Federal Government are percent pay a) corporate taxes,…

A: The issue is best described as follows:Problem Statement: The issue is related to the federal…

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: $4,00060, 00024,000.0060,000$6,000Complete the following table by deriving the marginal tax rates in…

A: Information on the income tax systems in two hypothetical countries:Country ACountry BTaxable income…

Q: The sources of revenue for state and local governments are                              ["the same…

A: Revenue is the income generated by the activities carried out by the business organization or by the…

Q: Differentiate between Direct and indirect taxes: Type this question in the form of topic paragraph.

A: Answer: The distinction between direct and indirect taxes is formed based on whether the tax burden…

Q: Is it possible to be used partly for public purpose and partly private purpose without violating the…

A: When a taxing body, typically a government, levies or imposes a financial responsibility on its…

Q: The Federal Government brings in revenue through taxation in all of the following forms EXCEPT:   A.…

A: The federal government does not primarily depend on sales and property taxes to generate sales.…

Q: 38.Explain why economists today tend to favor a comprehensive personal consumption tax.

A: Tax can be defined as the revenue for the government collected from the income or profit that an…

Q: An example of direct taxes are property taxes. True False

A: Property taxes are a type of direct tax. Direct taxes are taxes that are levied on individuals or…

Q: What is the equity principle behind benefit-based excise taxes?

A: A tax is a mandatory payment made by individuals and companies to the government based on some…

Q: What are the consequences of an increase in direct taxation?

A: Tax is the charge which is levied by the government. It is a source of government revenue which the…

Q: Identify the link of necessity and luxury goods to tax revenue

A: Tax Revenue refers to the income earned by the government through taxation. Tax revenue produces a…

Q: Mary is single and has a taxable income of $75,000. How much does she owe for federal income taxes…

A: In order to fund public services and programmes, a government or other authorised authority may…

Q: Describe the two basic philosophies of taxation fairness. How are these philosophies evident in the…

A: Tax fairness is a principle that states that a government's tax system should be equal to all…

Q: Where does the federal government obtain almost all of their revenue?     foreign governments…

A: Government revenue is the income available to fund the activities of a government. Government can…

Q: Case II: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to…

A: This is a hand drawn diagram. So, there can be little discrepancies. The new equilibrium quantity of…

Q: Define Taxation What is Income tax What is a value-added tax What is Sales tax What is an excise…

A: Taxation is the practice of levying fees on people or entities in order to raise money for the…

Q: Critically evaluate the impending rise of sales tax planned by the Japanese government and its…

A: The authorized (GDP) gross domestic product sculpture though was more diminutive than the 7.1% drop…

Q: Which tax is the largest source of tax revenue in the United States? personal income taxes…

A: The largest source of the tax revenue of the United States government has individual tax been since…

Q: 3)  Are excise taxes, like those on tobacco, gasoline, and alcohol, Progressive, Proportional, or…

A: Regressive tax imposes more burdens on poor households than the rich ones because it is same…

Q: Case II: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to…

A: The following figure is given:

Q: identify the various classification of income tax and explain briefly each.

A: An tax may be a tax imposed on people or elements (taxpayers) in regard of the income or benefits…

Q: Explain the types of tax liability in the Turkish Tax System by giving examples

A: The Turkish tax system is a vital component of the economy, and it is divided into three major…

Q: Describe the various types of taxes that the body is entrusted to collect.   Please give…

A: Indirect taxation involves imposing taxes that can be passed on to another entity or individual.…

Q: compared to federal spending state and local spending is A) almost twice as large B) about the…

A: Federal spending is considered the government spending on all the sectors and areas of the society…

Q: The federal government currently uses many forms of taxation, both direct and indirect, to raise…

A: Direct taxes are taxes that are imposed on natural persons and they are based on the taxpayer’s…

Q: What type of tax raises the most revenue for the federal government?  What is the largest source of…

A: What type of tax raises the most revenue for the federal government?  What is the largest source of…

Q: Identify the term being referred to: A benefit given by the government that allows entities to have…

A: Subsidies are frequently utilised to support activities that provide positive externalities that…

Q: For the government to run efficiently, it must collect tax revenue from the people. What is the…

A: The objective of the question is to identify the largest source of revenue for the federal…

Q: What is the impact of income-tax regulations?

A: Income tax regularization stands for developing an organized manner for easy access and control over…

Q: Discuss the measures that the UK government are taking to mitigate tax avoidance and tax evasion?

A: One sign of tax evasion is the amount of unreported income, which is the difference between the sum…

Q: Within the context of taxation policy, many economists have preferred the use of consumption tax to…

A: The income tax is the tax that is levied on the income of the people directly. It is collected,…

Q: What is the benefit of having state and local taxes on income instead of collecting all such taxes…

A: Taxes are compulsory financial charges or levies imposed by governments on individuals, businesses,…