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What business tax is due on income from the business

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Reference no: EM132759869

Problem 1: Charlie is an operator of parking lots. What business tax is due on his income from the business?

a) Broker's Tax

b) Common carrier's tax

c) Caterer's Tax

d) Value Added Tax

Problem 2: Which statement is wrong?

a) The percentage taxes are basically on sale of services;

b) The percentage are paid quarterly;

c) The percentage taxes are not allowed by law to be shifted to the customers or clients

d) An isolated transaction not in the course of business will not result in a liability for a percentage tax.

 

Reference no: EM132759869

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