Which tax does not have a wage base​ limit?   A. FICA−Medicare   B. Federal unemployment tax   C. FICA−OASDI   D. State unemployment tax

Q: One of the bases that the legislator must take into consideration when developing tax legislation in…

A: Developing a tax legislation in any countryhas very wide scope and definition, therefore

Q: What effect do permanent differences have on deferred income taxes?

A:

Q: determine if it's a tax deductible, tax credit, or neither.

A: TAX DEDUCTION:- It is a provision that reduce the taxable income. An expenses you can Subtracted…

Q: Which of the follwing types of tax may not be shifted a. Percentage Tax b. Excise Tax c. Income Tax

A: The answer is Option c. Income Tax Income tax cannot be shifted.

Q: Given the following information, would it be better for Illinois $52,400 Federal taxable income…

A: Itemized deductions are expenditures on eligible products, services or adjusted gross income to…

Q: Which of the following is not deductible from gross income? *   Community tax Excise tax…

A: Tax payer can deduct state and local income taxes, real property taxes, and personal property taxes…

Q: List examples of temporary differences that create: deferred tax assets. Deferred tax liability.

A: A deferred tax asset is a balance sheet item that results from an excess or early tax payment. A…

Q: Which of the following refunds is not subject to income tax a, Local tax expense b.Special…

A: Answer: Th refund which is not subject to income tax are those amount for which earlier deduction…

Q: 29. These pertain to items of income that are excluded in the computation of regular income tax * a.…

A: Solution Note dear student as per the Q&A guideline we are required to answer the first question…

Q: Which of the following state tax scenarios violates the commerce clause? Multiple Choice…

A: Tax:   It is a compulsory contribution to the state revenue that levied by the government on the…

Q: Which of the following statements is (are) correct? (x)  Part of the administrative burden of a tax…

A: A mortgage is a contract between borrower and a lender that provides the lender the right to take…

Q: Real property tax is an example of a national tax. * A. True B. False

A: In United States, US taxes are generally levied by local government authority. This property tax is…

Q: Which of the following is not a goal of the tax law? a.Economic goals such as reduction in…

A: Solution: Following are the goal of tax law: 1. Economic goals such as reduction in unemployment. 2.…

Q: 2. Creditable deductible input tax includes the following, except, a. Presumptive, transitional, and…

A: Value-added tax [VAT] is a tax that is charged on each and every stage of the goods and services…

Q: A tax structured so that people with the different incomes pay the same percentage of their income…

A: A tax structured so that people with the different incomes pay the same percentage of their income…

Q: Which of the following taxes is not deductible as an itemized deduction? a.Sales tax in a state with…

A: Non Deductible Taxes under itemized deduction: 1. federal income tax 2. Federal, state or local…

Q: Explain the difference between direct and indirect tax

A: Introduction: Tax refers to an individual's simple duty to contribute their resources. It is imposed…

Q: 23-Under which one of the following tax structure, tax charged everyone at the same rate regardless…

A: Tax means the mandatory payment made by assesse to the government without expecting anything…

Q: Which of the following tax remedies is both beneficial to the government and taxpayer? a. Tax lien…

A: In the era of growing global economy and complexities of tax laws, tax payers quite often tends to…

Q: Blank income is subject to federal taxes?

A: What is Federal Taxes?    Federal revenue enhancement is that the tax levied by the inner Revenue…

Q: FIT (Federal Income Tax) is tax paid from your income to the national level of government. Your…

A: Tax is a payment made to the government by a taxpayer for the government or social resources used by…

Q: What are the constitutional limitations on the State's power to tax

A: Constitution of the United States: The Constitution of the United States is the preeminent law of…

Q: In almost all cases, making contributions to an RRSP will provide the deferral of income tax. In…

A: Introduction: RRSP (Registered Retirement Savings Plan): A (RRSP) is a retirement funds plan where…

Q: Propose a tax measure in order for the government to eaarn addtional revenue with emphasis ont he…

A: Since you have asked two questions but we provide solution to one question only kindly resubmit…

Q: Discuss how a deferred tax provision can arise under IAS 12, Income Taxes, and the available methods…

A: the above requirement are discussed below

Q: How do you call a deductible temporary difference? a. Current tax asset. b. Deferred tax asset.…

A: As per IAS 12  The amount of the income taxes which will be Recoverable in future period in respect…

Q: H8. A- Describe what a progressive tax system and what a flat tax system are. B- Discuss the pros…

A: Taxation refers to the imposition of compulsory financial obligations by the government on…

Q: How are national taxes similar to and/or different from local taxes?

A: National taxes refer to national internal revenue taxes imposed and collected by the national…

Q: ral unemployment tax l Security tax care tax ral income tax

A: Payroll tax expense is the employers contribution  or share for payroll taxes for his employees. The…

Q: Tax deductions differ from tax credits because:   A. deductions affect relative prices, credits do…

A: Tax Deduction:-Tax Deduction means when there is subtraction in the taxable income of a person under…

Q: A temporary difference that would not result in a deferred tax asset but not a permanent difference?…

A: Solution: A temporary difference that would not result in a deferred tax asset but not a permanent…

Q: Which of the following are reductions  from the federal tax owed dollar -for - dollar.    Select…

A: Federal Tax is Tax on Income to be paid by Individuals, Corporation on their income of a particular…

Q: An income tax is an example of which of the following? Derived tax revenue. Imposed nonexchange…

A: Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct…

Q: How do you calculate State Tax? How do you calculate FICA Tax

A: State tax:   State income tax is a direct tax. State tax is levied by a state in the state the…

Q: If a government wants to obtain the maximum tax revenue it should   A. use static tax analysis.   B.…

A: Answer: C) The government should strive to assess and increase tax rate to maximize the revenue. The…

Q: Concerning the Federal tax on generation-skipping transfers: A. The charitable deduction is allowed…

A: Introduction:- The generation-skipping transfer tax is a federal tax It occurred when there is a…

Q: An income tax is an example of which of the following?a. Derived tax revenue.b. Imposed nonexchange…

A: Answer:   Option a.

Q: Provide the mandatory information to be included in a tax invoice under the Sales Tax Act 2018.

A: A tax invoice is the invoice of the sale of the goods which has been issued by the seller of the…

Q: Which is not a source of federal revenue? Employment taxes Estate and gift taxes Taxes on…

A: Taxes are the compulsory payment made by the assessee to the government. For example , income tax ,…

Q: Assume that the United States Congress passes a tax law that provides for a "rebate" to taxpayers.…

A: In the United States, Article I, Section 8 of the Constitution gives Congress the power to "lay and…

Q: Which of the following is true?   i. The general percentage tax is an explicit tax on consumption.…

A: VAT is a form of sales tax. It is a form of indirect tax on transfer of goods or services or both.…

Q: 3. The following are deductions from input taxes, except a. Input tax claimed as tax credit b. Input…

A: Input tax credit is the important component in the goods and service tax because these are claimed…

Q: 1.Determine the business tax applicable for the following independent assumptions. Put a check mark…

A:

Q: Briefly explain the precise difference between a refundable vs. a nonrefundable tax credit. Provide…

A: A refundable tax credit is a tax credit that is refundable. First, a refundable tax credit is used…

Q: How does the Income received from tax free government bonds effect the calculation of deferred…

A: Tax free government  bonds means those  bonds which  pays interest  which is tax free, that is not…