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
IUP - INDIANA UNIVERSITY OF PENNSYLVANIA 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! (3)
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

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