Analyze impact of tax holiday of up to ten day in your state

Assignment Help Taxation
Reference no: EM131117395

Discussion

General Taxes" Please respond to the following:

Review the following scenario and then analyze the impact of tax holidays on the budget.

(a) Scenario: Several states have declared sales tax holidays for which the state does not collect sales tax on selected items for those day or days. In most instances, the holiday has applied to purchases of clothing and the period has been a week to 10 days in August. The primary reason is to provide a "back-to-school" discount as families get ready for the upcoming year. However, in recent years, some states have proposed or enacted holidays for hurricane survival supplies, gasoline, Energy Star appliances, and guns and ammunition.

(b) Impact Analysis: Analyze the impact of tax holidays of up to 10 days in your state. Create a table with two (columns. The first column should list Yield, Equity, Administration and Compliance, and Economic Impact. The second column should explain the impact of tax holidays in each area.

Reference no: EM131117395

Questions Cloud

Compare the burden of your state with two neighboring states : Compare the burden of your state with two neighboring states. Illustrate with examples the burden of state, local, and state-local taxation in your state (My state is Georgia).
What are the concerning symptoms joan is experiencing : What are the main and most concerning symptoms Joan is experiencing? Why are these symptoms important in the process of diagnosing and treating her symptoms?
Flexibility and work life balance who benefits : The receptionist in your office has come to you and asked if he could change his existing work hours-now 9 am to 5 pm-to 11 am to 7 pm. His daughter has taken up rowing and he needs to drive her to rowing training four mornings a week. The office is ..
How is quantity determined in inventory control : How is quantity determined in inventory control? Cover EOQ (including quantity discounts and EPQ), FOI, and the Single Period Model. In addition, give simple examples with input information, tabulation, graphs, and calculations of each of the followi..
Analyze impact of tax holiday of up to ten day in your state : Impact Analysis: Analyze the impact of tax holidays of up to 10 days in your state. Create a table with two (columns. The first column should list Yield, Equity, Administration and Compliance, and Economic Impact.
Develop a consolidated financial projection of revenue : Develop a consolidated financial projection of revenue, pretax income, and cash flow for the overall business, over that same number of years, both with and without the proposed investment.
Philosophy of proper business ethics : What is your philosophy of proper business ethics? Develop at least five different points or arguments that support your thinking. Use outside research, textbook analysis and our course as a resource.
Many disorders can be very difficult : Many disorders can be very difficult to cope with, but when is it appropriate to name a disorder "awful" and who should give it that label? This question should provoke self-exploration into what prompts you to fear.
Considerations for researching legal and regulatory : As you continue to build your final facility, the legal team has provided you with considerations for researching legal and regulatory requirements that may affect the facility planning process.

Reviews

Write a Review

Taxation Questions & Answers

  If a taxpayer is dissatisfied with a notice of assessment

If a taxpayer is dissatisfied with a notice of assessment, discuss and detail how a taxpayer may issue an objection and may appeal to the AAT, the Federal Court, the Full Court of the Federal Court, the High Court of Australia and the Judicial Commit..

  What is the annual after-tax cost of debt

What is the annual after-tax cost of debt to the company on this issue and how much must the assets be reduced to bring the TATO to the industry average - what is the project's IRR?

  Identification of correct legal issues

Explain and apply their knowledge of the relevant Australian Tax Laws using the three step process. Briefly the process

  Compute blacksmiths earnings per share for 2012

Compute Blacksmith's earnings per share for 2012. Start with income from continuing operations. All income and loss amounts are net of income tax.

  Prepare the wardens joint individual tax return

You are to Prepare the Wardens' 2012 Form 1040 Joint Individual Tax Return, including Schedules A, B,, C, D, E, and F and Forms 2106, and any other form which you think is appropriate.

  Prepare the journal entries required

Having regard to the requirements of Accounting Standard AASB116 Property Plant and Equipment and AASB136 Impairment of Assets prepare the journal entries required (including tax effects) if the assets were revalued to fair value at 30 June 2009.

  Evidence of analytical thinking in logical reasoning

Consider the CGT consequences of the above transactions by determining whether the assets are CGT assets, collectables or personal use assets. Identify the relevant laws and apply them with appropriate details required to support your recommendat..

  What is current item which is relevant to taxation law

You must be available to make your presentation in either week 11 or 12. It is also essential to receive a mark in this assignment you attend all presentations given - Failure to do so or in any disrupt presentations being given will result in a Z..

  Would tax system create more or less tax revenue

Would tax system create more or less tax revenue, other things equal? Is this tax system more or less efficient than the current tax system? Explain.

  How do businesses adjust to controlling costs and production

How do businesses adjust to controlling costs and production in such uncertain times?

  Legal research writing and analysis

Legal Research, Writing & Analysis-12/e (Outline), by Peter Jan Honigsberg and Edith Ho,

  What was vopats march retail sales subject to sales tax

on April 10th Vopat remitted $135,800 tax to the state tax division for March retail sales. What was Vopat's March retail sales subject to sales tax?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd