100%(1)1 out of 1 people found this document helpful
This preview shows page 1 - 2 out of 2 pages.
Homework Problems:Problem 14. (LO 4)Herman may not have been overcharged since his quote may not have included the state and local excise taxes.Herman may have been charged excise taxes on hotel and car rental which is the hotel oocupancy tax and the car rental surcharge.Problem 19. (LO 4)Jake is under the misconception that his wife Jessica would avoid Federal gift and estate taxes if he left his wealth to Jessica when he dies.According to the text in our book, the right to transfer or to receive property upon death of the owner may be subject to estate and/or inheritanceConsequently, such taxes fall into the category of excise taxes. If the tax imposed on the right to pass property at death, is classified as an estaIf it taxes the right to receive property from a decedent, it is termed an inheritance tax. As is typical of other types of excise taxes, the value of