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3 years ago

Which are types of income tax that people pay? Check all that apply.

Business

2 answers:

astraxan [27]3 years ago

8 0

Answer;

-Federal

-Local

-State tax

Explanation;

-A federal income tax is a tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities.

-All businesses must pay state income taxes. Some businesses, such as corporations, are taxed as separate entities for income purposes, while the income of other businesses is not taxed separately from the incomes of their principal owners.

-A local tax is usually collected in the form of property taxes, and is used to fund a wide range of civic services from garbage collection to sewer maintenance. The local taxes include:

Property tax
Operating tax, which is used by some cities in lieu of a business license
Sales tax, if your business is engaged in retail sales
Income tax, which is rare but may be imposed on businesses operating in larger cities

Slav-nsk [51]3 years ago

8 0

Federal

Local

State

are the correct answers

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Answer:

Given that,

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Therefore, the journal entry is as follows:

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3 years ago

A computer manufacturer sells laptops to retail stores for $450 each. If the manufacturer pays $200 for all of the components in

a_sh-v [17]

Answer:

The answer is $75

Explanation:

The formula to reach out value addition is

Value Addition=Sales Value-Cost of manufacture or input added

In our Case

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3 years ago

A new building that costs $1,400,000 has a useful life of 10 years and a scrap value of $100,000. Using straight-line depreciati

xz_007 [3.2K]

Answer:

V = $1,400,000 - $130,000t

Explanation:

Data provided in the question:

Cost of the new building = $1,400,000

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Scrap value = $100,000

Now,

using the straight line method

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= [$1,400,000 - $100,000 ] ÷ 10

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3 years ago

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Answer:

A, B and D

Explanation:

Expanding the money supply is an exercise of expansionary monetary policy.

This decision will first allow our tech startup to acquire cheaper loans and expand our operations, this expansion in operations will result in new employment opportunities and hence as a result, unemployment will be reduced assuming this is a general trend in the economy.

This decision also directly reflects an increased investment and hence the GDP on the whole and the investment part of GDP would both increase,

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This change in macro economy will increase aggregate demand due to expansionary effects. Increase in imports is not conclusive as it may or may not happen depending upon the demand state.

Hope this helps.

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3 years ago

A taxpayer understated the tax liability by $10,000. The total tax liability was $50,000. No disclosure of the return position w

posledela

Answer:

2,000

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