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Chapter 1 83. Which, if any, of the following statements best describes the history of the Federal income tax? a. It did not exist during the Civil War. b. The Federal income tax on corporations was held by the U.S. Supreme Court to be allowable under the U.S. Constitution. c. The Federal income tax on individuals was held by the U.S. Supreme Court to be allowable under the U.S. Constitution. d. Both the Federal income tax on individuals and on corporations was held by the U.S. Supreme Court to be contrary to the U.S. Constitution. e. None of these. B 84. Which, if any, is not one of Adam Smith's canons of taxation? D 85. Which, if any, of the following taxes are proportional (rather than progressive)? 86. Which, if any, of the following transactions will increase a taxing jurisdiction's revenue from the ad valorem tax imposed on real estate?
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C 87. Which, if any, of the following transactions will decrease a taxing jurisdiction's ad valorem tax revenue imposed on real estate? a. A tax holiday is granted to an out-of-state business that is searching for a new factory site. b. An abandoned church is converted to a restaurant. c. A public school is razed and turned into a city park. d. A local university sells a dormitory that will be converted for use as an apartment building. e. None of these. A 88. Which, if any, of the following is a typical characteristic of an ad valorem tax on personalty? 89. Federal excise taxes that are no longer imposed include:
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  • Spring '14
  • Taxation in the United States

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