7. The rationale for the increased reliance by the States for revenue generated by gambling is...

7. The rationale for the increased reliance by the States for revenue generated by gambling is that these sources of funds (lottery, casinos, racing) have an effective tax rate that is lower than most other taxes, making this fiscal choice “painless”. True/False _________________Correction to make true ___________________________________________________________________

8. The compensating use tax is used as to implement the origination principle of the sales tax.

True/False _______________ Correction to make true ____________________________________________________________________________________

9. Personal income taxes have become less important as a source of revenue for State governments over the last 30 years.

True/False _______________ Correction to make true ____________________________________________________________________________________

Expert Solution

7. false.

reason The rationale for the increased reliance by the States for revenue generated by gambling is that these sources of funds (lottery, casinos, racing) have an effective tax rate that is higher than most other taxes, making this fiscal choice “painless”. gambling tax rates are higher than other tax rate that the government levy and it is higher in comparison to other tax revenue to government.

8. true

reason The compensating use tax is used as to implement the origination principle of the sales tax.Use tax is a sales tax on purchases made outside one's state of residence for taxable items that will be used, stored or consumed in one's state of residence and on which no tax was collected in the state of purchase.

9. false

reason Personal income taxes are always as a source of revenue for State governments over the last 30 years. even before the other type of tax to be regulated during this time personal income tax has help the stategovernment to accomplish different tasks.

Rahul Sunny answered 2 years ago

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