Principles of Taxation

Business

Quiz 1 :

Taxes and Taxing Jurisdictions

Quiz 1 :

Taxes and Taxing Jurisdictions

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Sellers of retail goods are responsible for collecting sales tax from their customers and remitting the tax to the state government.
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True False
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True

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A tax on net income is an example of a transaction-based tax.
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True False
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False

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A tax with a graduated rate structure must have at least two brackets of tax base.
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True False
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True

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Under U.S.tax law,corporations are entities separate and distinct from their shareholders.
True False
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A sales tax is an example of an activity-based tax.
True False
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In some cases,the payer of a tax can shift the economic incidence of the tax to a third party.
True False
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Purchasers of consumer goods through the mail are responsible for paying use tax on goods for which sales tax was not collected by the seller.
True False
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The U.S.government has jurisdiction to tax individuals who are not U.S.citizens but who earn income from a source within the United States.
True False
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Ad valorem property taxes are the major source of revenue for local governments.
True False
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Taxes on personal property are more difficult to administer and enforce than taxes on real property.
True False
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A state government may levy either a sales tax or a use tax on consumers but not both.
True False
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The U.S.government has jurisdiction to tax individuals who are not U.S.citizens but who are permanent U.S.residents.
True False
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The U.S.government does not have jurisdiction to tax individuals who are U.S.citizens but who are permanent residents of another country.
True False
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A tax is intended to deter or punish unacceptable behavior.
True False
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The majority of state governments raise revenue from both personal and corporate income taxes.
True False
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A sales tax is an example of a transaction-based tax.
True False
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Payment of a tax entitles the payer to a specific good or service from the government.
True False
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The person who pays a tax directly to the government always bears the economic incidence of the tax.
True False
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A user fee entitles the payer to a specific good or service from the government.
True False
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A tax is a payment to support the cost of government.
True False
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