Acct421-521-U1-TaxTypes-Chart-BLANK-09012011 - IUP -...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: IUP - INDIANA UNIVERSITY OF PENNSYLVANIA Eberly College of Business & Information Technology Accounting Department ACCT 421/521 - Federal Taxation #1 ECOB 211 on M&W and ECOB Lab#109 on Fri UNIT #1 (PH-2012-Comprehensive-Pope/Anderson/Kramer-Chapters 1&2) Unit #1 Tax Types Chart 30 points Fall 2011 Page 1 STUDENT LAST NAME, FIRST NAME = TYPE OF TAX TAX BASE TAX RATE(s) For Year 2010 Tax Structure: Impact on T/P APPEARS to be Tax Structure: REALITY of Impact on T/P (1) SAMPLE Individual Federal Income Tax -- or -- FIT Federal individual taxable income or Fed T.I. 10-15-25- 28-33-35% Progressive Progressive except as to tax- exempt income & then it is regressive (2) SAMPLE Individual PA Income Tax -- or -- PA-SIT Approximately Gross Income or PA T.I. 3.07% for all Proportional (which is another term for flat tax) Could make the case that it is regressive THINK about this!...
View Full Document

This note was uploaded on 09/20/2011 for the course ECONOMICS 101 taught by Professor Youalreadyknow during the Spring '11 term at Punjab Engineering College.

Page1 / 2

Acct421-521-U1-TaxTypes-Chart-BLANK-09012011 - IUP -...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online