7 - As the tax base increases, the rate of tax increases....

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
What type of tax is the U.S. federal income tax? Explain your answer. Answer: The federal income tax is a progressive tax.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: As the tax base increases, the rate of tax increases. Tax rates range from a low of 10% to a high of 35%....
View Full Document

This note was uploaded on 09/16/2011 for the course ACCOUNTING 145 taught by Professor Eric during the Spring '11 term at Palm Beach Community College.

Ask a homework question - tutors are online