What is the difference between a general sales tax and an excise tax?

Q: What is the incremental tax rate?

A: Tax: Tax is the compulsory legal payment that is imposed by the government. Alternatively, it is the…

Q: What is Double Taxation?

A: Taxation refes to a system of levying taxes on individuals or firms in the economy. Taxes are a…

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: What are the U.S. Corporate Income Tax Rates?

A: Corporate Tax (CT) is the tax that is imposed on a business organization on the profits earned.

Q: Why is gasoline heavily taxed? Explain

A: A government plays a crucial role to overcome the problem of scarcity in the economy. It regulates…

Q: Discuss the effects of indirect taxes on producers. min 200 word

A: Indirect taxes are the taxes that are not directly paid by consumers. These taxes are added in 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: What are the Average Tax Rates?

A: Average Tax rate is the sum of total taxes paid divided by total taxable income. Under the…

Q: Explain tax abatements and how are they different from tax expenditures?

A: It affects the application of a credit to the whole taxes owed. Though circumstances may change,…

Q: In the diagram to the right, illustrating a per-unit tax equal to P, minus P3, tax and the excess…

A: From the graph, we can say  Q1 and P1 is the equilibrium quantity and price when there is no tax.…

Q: How can the government improve tax collections without imposing much tax to the consumer?

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

Q: A tax will be split equally between buyers and sellers when:

A: Taxes are defined as mandatory contributions which are levied on individuals or corporations by the…

Q: 2. Excise tax is a part of

A: To find : Excise test will be part of?

Q: A religious group engaged in the sale of bibles and other religious articles was required to pay…

A: The imposition of tax is mostly valid except in some counties or states where the law states…

Q: Case #1: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to…

A: If $1 per liter excise tax on soft drinks imposed then consumers and sellers, buy or sell less of…

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: What are Corporate Taxes?

A: Taxes are the compulsory payments made by the individuals or firms to the central government. They…

Q: Explain how an increase in tax can reduce tax revenue of a government

A: Tax is the major source of revenue for the government. The major government spending is funded from…

Q: What are the classifications of taxes? Describe each briefly.

A: Taxes can be classified under three types. Direct and Indirect tax Ad-valorem and specific tax…

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: What are the fundamental principles of taxation?

A: Taxation means levying or imposition of particular amount of tax on individuals by the government in…

Q: Use the information in the table to answer the following question Income Amount of % of Income Tax…

A: There are three types of tax: 1. Progressive  2. Regressive  3. Proportionate

Q: Define the three principles of sound tax system (Fiscal Adequacy, Equality or Theoretical Justice,…

A: The tax system is defined as a legally regulated system of public relations based on principles that…

Q: What are non-tax sources of public revenue?

A: The term "public finance" refers to the study of government revenue and expenditures. It examines…

Q: how do i get most out of my taxes as a college student?

A: Taxes is the deductions made from the income earned by the person in lieu of attaining government…

Q: The State of Mississippi imposes a 7% sales tax on most goods and services transacted within the…

A: When an individual or a corporation pays the least amount of taxes necessary by law, they are said…

Q: What are the characteristics of Taxation

A: Taxes are levied in almost every country in the world. It is levied to raise revenue for the…

Q: Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $307,000 this…

A: Estimated tax is the quarterly payment of taxes due based on the filer's earned income.

Q: Where do most city and local taxes come from

A: The local taxes are the most crucial part of local government. Such taxes are then used for distinct…

Q: Write 3 difference between direct and indirect tax.

A: # Taxes are classified as direct and indirect tax on basis of who shares the burden of the tax and…

Q: What is the definition of Property tax

A: Taxes are defined as a tax levied by the government on individuals in the economy in exchange for no…

Q: Define Situs of Taxation.

A: Situs of taxation virtually means place of taxation the overall rule is that the taxing power cannot…

Q: Define income tax.

A: A tax is a compulsory payment to the government. It is a source of revenue receipts for the public…

Q: The efficiency loss of imposing an excise tax is due to: a. Paying a higher price per unit. b.…

A: The efficiency loss occurs due to the over production or underproduction. On the other hand, an…

Q: Estate duty is a direct tax  True/False

A: # As the name suggests, direct taxes are the one which are to be paid directly to the authority who…

Q: do taxes generate the revenue?

A: Revenue: It refers to the extra benefits that a business can earn. These extra benefits will help…

Q: Explain how corporate profits are taxed twice

A: Taxes refer to the fees that is charged by the government on various entities of the economy. The…

Q: What is the subject of Corporate Tax? Who has to pay corporate tax? Please provide detailed…

A: Corporate tax is a form of tax that applies to all businesses. It is a tax levied on a company's…

Q: What are the types of income chargeable to tax in Australia?

A: A tax is a required payment or monetary fee imposed by a state on a person or an entity in order to…

Q: Why is the burden of a tax to taxpayers greater thanthe revenue received by the government?

A: Tax Burden is a proportion of the taxation rate forced by government. It incorporates direct…

Q: Taxation (Malaysia) (minimum 150 words each ) 1. Advantages and disadvantages of direct and…

A: 1. Advantages of Indirect Taxes  They are one of the solitary method in which the poor people can…

Q: Provide an Illustration to illustrate one of the Final Income Taxes.

A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…

Q: then tax revenue for the

A: Due to tax imposed , govt moved the market from market equilibrium to social optimum  That is at…

Q: Paying a tax on gasoline when filling up your car is an example of a (A Income tax B Property tax…

A: The markets are considered to be the place where the interaction between the buyers, and sellers…