Well I’m young so I make money through part time jobs such as chick fila or some other restaurant that pays
Answer: When viewed and analyzed together, economic indicators and market indexes can provide a clear picture of economic growth.
Explanation:
Edg.
Answer:
B) Only statement II is correct.
- II. Has $20,000 of taxable income from Corporation Z.
Explanation:
One of the disadvantages of a C Corporation is that their owners (stockholders) are double taxed. That means that the corporation is taxed and then the stockholders are taxed depending on the dividends that they receive. In this case, Walter has $10,000 of taxable income from Corporation X (= $50,000 x 20%).
On the other hand, sole proprietorships, partnerships, limited liability companies and S Corporations are not taxed, they are pass through entities whose owners are taxed directly. In this case, Walter owns 20% of Corporation Z, therefore he must pay taxes on 20% of taxable income = $100,000 x 20% = $20,000.
Who pays the tax does NOT depend on who write the check to the government.
Who pays the check ultimately depend on the elasticity of supply and demand. This is because, suppliers have several ways of passing the taxes levied on them by the government to the consumers in form of increase in price of their products. But this also depend on the elasticity of the products, because if the prices are too high, some customers may decide to buy somewhere else or to go for a substitute.<span />
