This preview has intentionally blurred sections. Sign up to view the full version.View Full 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
- Spring '11
- Progressive Tax, Taxation in the United States