A (big letter) 8 - True False 136 Money collected from excise taxes goes toward a specific purpose True False 137 The primary objective of a sin tax is

A (big letter) 8 - True False 136 Money collected from...

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136. Money collected from excise taxes goes toward a specific purpose. 137. The primary objective of a sin tax is to generate additional revenue for the government. 138. The primary objective of a tax credit is to encourage businesses to behave in certain ways. One example is offering a tax credit to automobile manufacturers for the purchase of robotics used in the manufacture of automobiles. 139. The European Union currently levies certain Internet taxes. True False 140. Carlos has had a very successful year. His small-business corporation earned over $500,000. His company will have to pay part of its income to the federal government for income taxes. 141. Brian and Sondra own a very successful Cajun restaurant. They recently built their own building and own all of the decorations in the restaurant, along with the equipment needed to run the business. They will pay real property taxes on the building and land and personal property taxes on the decorations and equipment.

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