There is an inequity surrounding the online collection of sales taxes. Discuss tax burdens (who pays...

There is an inequity surrounding the online collection of sales taxes.

Discuss tax burdens (who pays the tax) informed by elasticity of demand and elasticity of supply along with efficiency (loss of production due to expected size of dead weight loss under different combinations of elasticity of demand and elasticity of supply scenarios.

Expert Solution

Rahul Sunny answered 2 years ago

Who pays the sales taxes on a transction ?How often is a business owner required to...

Who pays the sales taxes on a transction ?How often is a business owner required to submit the sales taxes that were collected to the governing authorities?Explain What determines the frequency of submission of taxes.

Discuss US fiscal policy. Including taxes, presidential candidate tax policies, real estate taxes, sales tax and...

Discuss US fiscal policy. Including taxes, presidential candidate tax policies, real estate taxes, sales tax and value-added tax. Discuss how taxes play a role in US politics. How do these shape elections and Presidential campaigns?

Discuss the status of congressional action and lobbying in relation to establishing an online sales tax....

Discuss the status of congressional action and lobbying in relation to establishing an online sales tax. NOTE: Posts should be more than a “book report”, and display proof of critical thinking.

Three taxes: Sales Tax, Property Tax, and Income Tax. Name three types of taxes and analyze...

Three taxes: Sales Tax, Property Tax, and Income Tax. Name three types of taxes and analyze the deadweight loss of each. Which of these taxes do you believe create the highest deadweight loss? Why? Why is deadweight loss disagreed on by experts? Explain.

A city uses a Property Tax Collection Custodial Fund to account for the collection of property taxes for itself, a county, and a school district.

Part VII: Custodial FundsA city uses a Property Tax Collection Custodial Fund to account for the collection of property taxes for itself, a county, and a school district. Prepare journal entries to record the following transactions and events for city’s Custodial Fund during calendar year 2020.During 2020, property taxes were levied for the city ($6,000,000), the county ($3,000,000) and school district ($9,000,000). Assume taxes collected by the Custodial Fund for the city will be paid to the city’s General Fund.Property...

Who Pays Higher Gasoline Taxes? Gasoline taxes are paid by sellers from the revenues they earn...

Who Pays Higher Gasoline Taxes? Gasoline taxes are paid by sellers from the revenues they earn from their total sales. Thus to receive the same effective price for selling a given quantity of gasoline, a gasoline producer must charge an actual price that is higher by exactly the amount of the tax. Sellers supply a given quantity of gasoline, but at a price that is higher by the amount of the tax that they have to pay to the government....

Explain why the allocation of the tax burden does not depend on who pays a tax...

Explain why the allocation of the tax burden does not depend on who pays a tax to the government? Do the economic effects of a tariff depend on who pays it? Why or why not? What are some ways that companies can reduce the currency risk they face? What is the advantage of equity financing over debt financing?

How are online businesses affected by the new state sales tax

Discuss when a taxable sale occur for sales and use tax purposes. Who is liable for...

Discuss when a taxable sale occur for sales and use tax purposes. Who is liable for the tax? What common exemptions exist for sales and use tax? How exemption certificates work? In general, what compliance procedures exist in most states?

What is the purpose of the alternative minimum tax and who pays it? How was the...

What is the purpose of the alternative minimum tax and who pays it? How was the individual alternative minimum tax impacted by the December 2017 tax reform law? Review available tax credits discussed in chapter 12 of the text. Compare the tax credits that you actually take with the tax credits you would like to take. Explain why you made the particular selections. For the tax credit(s) that you would like to take, explain why you are not able to...

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