Analyze the impact of tax holidays on the budget

Assignment Help Taxation
Reference no: EM13793180

Review the revenue information for North Carolina. Review the revenue of two neighboring states. Be prepared to discuss. References are to be less than 5 years old

"Major Tax Structures" Copy and Paste this Format when responding (do not post attachments):

1) From the "Quarterly Summary of State & Local Tax Revenue," illustrate with examples the burden of state, local, and state-local taxation in your state.

2) Compare the burden of your state with two neighboring states.

"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. 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: EM13793180

Questions Cloud

Problems based on cardio-vascular disease : What are the environmental effects on your health from your home and other places you spend a great deal of time?
How to find an argumentative article for your critique paper : How to Find an Argumentative Article for Your Critique Paper? To find an argumentative article for your Summary Paper, you can use any of the following methods.
Knowledge of these new testament principles-truths : Prepare a two-page paper summarizing how Christ and His followers influenced organizations and people of their day, and how knowledge of these New Testament principles/truths can impact your organization and those with whom you work.
Most effective on local and global levels : Write a few paragraphs explaining your scenario, as well as its effectiveness and possible obstacles.
Analyze the impact of tax holidays on the budget : 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..
Data, information, knowledge, wisdom continuum : Identify which of these databases you would use to find the information or data you need.
Biggest factors contributing to anti-americanism : What are some of the biggest factors contributing to Anti-Americanism in East Asia? You should narrow your focus to a single country (China, Japan, Korea), and provide specific examples from the readings, lectures, and documentaries we have review..
Analyze the key differences between leaders and managers : Analyze the key differences between leaders and managers.
Texas constitution on the powers of the governor : Explain the reason for the limitations imposed by the Texas Constitution on the powers of the governor. Why is there greater potential for conflict in the plural now than when Texas was a one-party Democratic state?

Reviews

Write a Review

Taxation Questions & Answers

  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..

  Character of the loss predictable on the sale

How would your answer to Part a change if Karen had initially purchased the stock from another shareholder rather than organizing corporation?

  Submitted in accordance with assessment policy

The assignment is to be submitted in accordance with assessment policy stated in the Subject Outline and Student Handbook It is the responsibility of the student submitting the work to ensure that the work is in fact his/her own work. Ensure that whe..

  Prepare her income tax return in 2009

You will also need to consider the liabilities that arise because of the specific laws that cover tax agents. This would include liability to Pamela and any possible problems with your tax agents licence.

  Tax forms for the tax return problems

You will prepare tax returns You must use tax forms for the tax return problems, failure to do so, will result in massive point deduction

  What is tax freedom day

When was Tax Freedom Day in 2002 and 2003? What is Tax Freedom Day?

  What tax consequences arise

Explain what is meant by ‘income by ordinary concepts'. Advise what tax consequences arise in respect of the payments to Mahler, Schubert and Tull.

  Calculation of expected returns and the tax implications

Calculation of expected returns and the tax implications that are relevant to your advice utilising the formulas provided in the formula sheet

  What code section defines net earnings from self-employment

What code section defines net earnings from self-employment. Where is the treatment of partners with respect to self-employment tax explained in one of the tax services

  Please help find issues for income tax accountingin the

please help find issues for income tax accountingin the existing year david and debbie wayland both successful

  Problem 1 will company has a 20 percent marginal tax rate

problem 1 will company has a 20 percent marginal tax rate and uses a 12 discount rate to evaluate npv. the firm started

  Uses straight-line depreciation for tax and book purposes

Prepare KJJ Corp's Form 1120 and related schedules - Schedules A, C, E, J, K, L, M-1, and M-2. (Do not complete FormPrepare KJJ Corp's Form 1120 and related schedules - Schedules A, C, E, J, K, L, M-1, and M-2.

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