Ch1-Solutions - Chapter 01 An Introduction to Tax Homework...

  • Virginia Tech
  • ACIS 3314
  • Notes
  • PresidentHackerCaribou7010
  • 6
  • 96% (28) 27 out of 28 people found this document helpful

This preview shows page 1 - 3 out of 6 pages.

Chapter 01 - An Introduction to Tax 4. Speeding ticket – tax or not?
5. Building permit
9. Sin tax purpose
1-1
Chapter 01 - An Introduction to Tax Social security and Medicare – tax based on employee wages Net earnings for self-employment - (also responsible for federal income tax) Excise tax – tax based on quanity purchased – alcohol Sin tax – taxes on goods that are deemed undesirable Tax base for Sales tax – retail sales of goods or services Use tax – retail price of goods owned, possessed or consumed with a state that were purchased OUT OF STATE.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture