Cigarette tax

Assignment Help Taxation
Reference no: EM1391216

If the price of something goes up, it is always irrational to buy more of it.

A consumer would prefer to have his or her income doubled rather than prices of all goods halved.

If there price of a box of Cheerios increases from $3.25 to $3.50, but a consumer continues to buy 1 box per week, then he or she is no worse off due to the price increase.

Purchasers of new cars will be better off if a $500 tax on new car purchases is collected from car sellers rather than from the purchasers themselves.

Consumers will bear more of the burden of a $1/pack cigarette tax than a $1/gallon milk tax.

Suppose that the equilibrium price of HD televisions is $500. Imposing a price ceiling of $400 won't affect the overall efficiency of the HDTV market since the $100 decrease in price simply represents a transfer from suppliers to consumers.

Reference no: EM1391216

Questions Cloud

Delineate which market participants you believe benefited : the merits of the DOJ's antitrust case against Microsoft and the organization's defence. Delineate which market participants you believe benefited from the final court decision and whose interests were harmed.
With what speed did the bullet strike the block : A 10-kg bullet is fired horizontally into a 300-g wooden block initially at res on a horizontal surface and become embedded in it. The coefficient of friction between block and surface is (0.50).
Recognize two main theories in education field : Recognize two main theories in education field. Recognize the theorist(s) and sources of theories (key articles or books) in discipline.
Organism in developmental biology research : An eight cell frog embryo can be separated into its individual cells and those cells placed in incubators with all the necessities for development.
Cigarette tax : A consumer would prefer to have his or her income doubled rather than prices of all goods halved and decrease in price simply represents a transfer from suppliers to consumers.
Clarification of standard deviation : According to the data from the College Entrance Examination Board, scores on the SAT-I test have a mean of 1017, and Q1 is 880.
Compute the acceleration of the crate : It stops 90 cm from where you free it. The spring steady is 370 N/m. What is the coefficient of kinetic friction between the block and the table.
Explain why previous laws have failed : explain why previous laws have failed. If you believe which the reverse is true, please explain why CEOs and CFOs are paying so much attention to this law.
Average household salary in a geographic area : Your firm has determined that if the average household salary in a geographic area is greater than $53000, then their product will be successful.

Reviews

Write a Review

Taxation Questions & Answers

  Taxpayer will deduct an interest expense

The mother paid interest of $670 during tax year, $240 of which she calculated pertained to the taxpayer's use of credit line. The taxpayer will deduct an interest expense:

  Create the income tax journal entry

Assist Thorn in completing schedule by filling in blanks for items related to its income taxes for 2014 and Create the income tax journal entry for Fairfax Company for 31 st December, 2014.

  Determine ruby divisions economic value

Determine Ruby Division's economic value added and Determine the brick division's division margin

  Employees who operate the gambling facilities

the hotel workers demanded equal treatment and therefore were also allowed to eat in restaurant at no charge while they are at work. Which is correct?

  Prepare a 2012 tax return

Prepare a 2012 tax return using the following information. Forms 1040, Schedule A, Schedule B, Schedule C, Schedule SE (only need to complete page 1), Form 4562.

  Journal entry - credit to purchases account

A purchase discount was recorded as a credit to purchases account- the remainder was properly recorded. This error will cause

  Prepare a memorandum that outlines the tax consequences

Prepare a memorandum that outlines the tax consequences of each of the three alternative acquisitions

  Are securities registered in the corporation name

Explain the manner in which each of the above procedures might be tested and are securities registered in the corporation name?

  Purpose a 2010 s corporation tax return

Purpose a 2010 S corporation tax return (Form 1120S), including the subsequent additional schedules and forms: Schedule D, Form 4562, and Schedule K-1.

  Prepare suitable entries for both user and scape

Prepare suitable entries for both User and Scape from the inception of the lease through the second rental payment on 1st April, 2013. Depreciation is recorded at the end of each fiscal year.

  Whether he return on a cash or accrual basis

Advise John Jones what amounts would be included in his assessable income. Your answer should include a discussion of the following: Whether he return on a cash or accrual basis.

  Evaluate what are the tax consequences to terry

Suppose that the data are the same, except that the fair market value of property is 2,525,000. Thus, when terry deeds the property to creditor, she also receives 25,000 from the creditor. What are the tax consequences to terry?

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