If the statement is false, make a correction to make the statement true. Each question is...

If the statement is false, make a correction to make the statement true. Each question is worth 5 points (for a total of 60 points). Partial answer (that is, the statement is false, but your correction is wrong) will get ½ credit.

1. Comparative tax ranking studies provide accurate assessments of a state’s tax policy goals.

True/False ____________________

Correction to make true ___________________________________________________________________________________

2. When looking at tax personal income of individuals, most states define their tax base by using Federal taxable income as the state tax base.

True/False ____________________

Correction to make true ___________________________________________________________________________________

3. An example of a regressive “tax” is the implicit tax rate that is realized by a State in the sale of lottery tickets.

True/False ___________________

Correction to make true

___________________________________________________________________________________

Solutions

Expert Solution

1). The answer is: "FALSE"

The Comparative Tax Systems course provides students with a comparative overview of the tax systems of various countries, with a view to developing a conceptual and practical understanding of the reasons why tax systems differ (and why they are sometimes so similar). The objectives of the course are to help students understand the characteristics that tax systems have in common, the areas in which tax systems differ, and the factors (legal, institutional, political, economic, social, and cultural) that cause the similarities and differences.

2). The answer is: "FALSE"

When looking at tax personal income of individuals, most states define their tax base by using Federal Adjusted Gross Income(AGI) as their state tax base

3). The answer is: "FALSE"

Regressive taxes place more burden on low-income earners. Since they are flat taxes, they take a higher percentage of income on the poor than on high-income earners. Taxes on most consumer goods, sales, gas, and Social Security payroll are examples of regressive taxes.

Rahul Sunny answered 1 year ago

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