taxationACC200

taxationACC200 - Chapter Objectives Introduction to...

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Chapter Objectives – Introduction to Taxation Identify the various taxes affecting business enterprises and individuals including transaction taxes (sales and excise taxes, employment taxes, death taxes, gift taxes, etc.) property and wealth taxes, and income taxes Distinguish between the basic tax formula for individuals and corporations Calculate the taxable income and income tax for an individual taxpayer Calculate the taxable income and income tax for a corporate taxpayer
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Chapter Objectives – Introduction to Taxation Distinguish between and calculate marginal and average tax rates Use marginal tax rates to compare the after-tax return of tax-free municipal bonds and fully taxable bonds
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Purpose of Taxation 2008-2009 Annual Tuition and Fees NC State Duke Wake Forest State Resident $ 5,274.00 $37,388. 00 $36,660.00 State Non-resident $17,572.00 $37,388. 00 $36,660.00
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Progressive Tax rate increases as tax base increases Proportional Tax rate does not change with changing tax base
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This note was uploaded on 04/21/2009 for the course ACC 200 taught by Professor Buckless during the Spring '08 term at N.C. State.

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taxationACC200 - Chapter Objectives Introduction to...

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