Does your state have an individual income tax

Assignment Help Microeconomics
Reference no: EM132208277

Question: 1. Does your state have an individual income tax? If so, how closely does it conf federal tax? Can one deduct the federal tax in computing the state income tax? List some specific ways that the federal and state tax bases differ. What problems. if any. do these differences create in computing your taxes? What additional issues have been created in as a result of Federal Tax reforri ir 2017.

2. What is the rate structure of your state income tax? Are the rates progressive, and if so, how does that progressivity compare to the federal income tax rate structure?

3. The two most important state taxes are income and general sales taxes, although states also rnake substantial use of excise taxes, direct business taxes (usually a corporate income tax), and others. List and discuss briefly four factors that might irfluerce a state in choosirg between ar income and general sales tax. What is the relative reliance in your state on these two taxes? If the relative reliance in your state is different than average, speculate about why that might be so.

Reference no: EM132208277

Questions Cloud

How political factors have influenced immigration policy : From the readings, explain how political factors have influenced Immigration Policy in the United States. Support your answer with examples.
Calculate the annual cost of the truck : Eight years ago, Ohio Valley Trucking purchased a large-capacity dump truck for $115,000 to provide short-haul earthmoving services.
What is the real exchange rate : What is the real exchange rate and why is it better than the nominal exchange rate at measuring international competitiveness?
Why do you think that the trial court refused to give : In this case, the appellate court reversed the defendant's conviction and remanded the case for a new trial. On what basis was that decision reached?
Does your state have an individual income tax : Does your state have an individual income tax? If so, how closely does it conf federal tax? Can one deduct the federal tax in computing the state income tax?
What is kate income elasticity of the demand for cookies : What is Kate's income elasticity of the demand for cookies? What is Kate's own price elasticity of the demand for cookies? d) And what is Kate's tea price.
Determine the probationary period be deemed a success : What are the roles of the corrections organization, the probation officer, and the offender in the outcome of the probationary period?
Explore the latest strategies and advancements : develop a presentation report that explores the latest strategies, advancements, and innovations in the area of criminal evidence.
Explain the situations in which the supreme court of the us : Law enforcement officers and crime scene technicians must use caution and protect themselves at all times from contracting AIDS or hepatitis.

Reviews

Write a Review

Microeconomics Questions & Answers

  Show the action would be equivalent to huge sterilized sale

Show that this action would be equivalent to a huge sterilized sale of dollars in the foreign exchange market. What might be the effects?

  What effect regulatory step

Suppose the regulators decide to lower the cash reserve ratio for the commercial banks. What effect this regulatory step will have on the money supply, inflation, GDP and employment?

  Calculate the elasticity of demand for alcohol consumption

Explain why it is or is not possible to calculate the elasticity of demand for alcohol consumption for the state situation?

  What is the role provided by break-even point

What is the role provided by break-even point, and how would you calculate this point? Please calculate break-even point in patient days under the provided.

  How to deal with heteroscedasticity and autocorrelation

We will have considered three different diagnostic tests: tests for normality, homoscedasticity and no-autocorrelation of the residuals. We shall have learnt how to deal with heteroscedasticity and autocorrelation.

  What is the socially optimal level of drugs bought and sold

Suppose Merck is developing new drugs that have positive externalities; the positive externality is a pharmaceutical technology we all benefit from. Let the supply curve for Merck’s production be P =Q/4, where Q is the number of units of drugs they’v..

  What does the given imply for the size of total surplus

New York City has a long-standing policy of controlling rents in certain parts of the city-in essence. What does this imply for the size of total surplus?

  Lifespan approach to development

Erikson and Freud are two of the few theorists who have developed a lifespan approach to development. Freud's approach to development was psychosexual while Erikson's was psychosocial. Even though Freud's theory is better known, Erikson's theory r..

  How much should be set aside for maintenance

The cost of maintaining a new care is estimated at $295 the first year and to increase by $50 each year thereafter. How much should be set aside for maintenance

  Identify and explain the main economic and ethical issues

Identify and explain the main economic and ethical issues related to the introduction of (illegal) P2P file-sharing technologies on the recorded music industry.

  Explain the effects of the new hazards

Explain the effects of the new hazards associated with terrorism and the role education can play in reducing the public's fear of these hazards.

  Graph the total product of labor curve

Graph the Marginal Product of Labor Curve, Graph the Total Product of Labor Curve and Graph the MRPL and MEL curves and note the quantity of labor at which MRPL = MEL

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