0.619047619047619 is how many you could get. So about .62
State General Sales Tax is regressive.
<h3>What is a regressive tax?</h3>
A tax that is administered equally and is regressive takes a bigger percentage of revenue from low-income earners than it does from high-income earners. It is opposed to a progressive tax, which levies higher rates against high-income taxpayers.
Because it is imposed consistently in all circumstances, regardless of the taxpayer, a regressive tax has a greater negative impact on low-income individuals than on high-income individuals. Taxing everyone the same may be fair in some circumstances, but it is viewed as unfair in others. Because of this, the majority of income tax systems use a progressive schedule that taxes high earnings at a higher percentage rate than low earners, while other types of taxes are imposed consistently. Although the United States has a progressive tax system for income tax, which means that people with higher incomes pay a higher percentage of taxes each year compared to people with lower incomes, we do pay other levies that are regarded as regressive taxes. State sales taxes, user fees, and to a certain extent, property taxes are a few of them.
Thus, it is the General sales tax that is also considered a Regressive Tax.
For more information on regressive tax, refer to the given link:
brainly.com/question/9373731
#SPJ4
Answer:
Because the shares price of that company will be reduced that gives shareholders to own more thus owning a greater percentage of the company
Explanation:
Let's say <em>Washer</em><em> </em><em>Ltd</em><em> </em>is high-risk and they have taken a stand to reduce their ordinary share price in order to attract investors, from <em>R</em><em>6,90</em> to <em>R3</em><em>,</em><em> </em><em>90</em><em> </em>per share
Instead of the shareholder paying the full price for less shares, he can buy more share for half the amount of money
Answer:
A.$262,500
B. Dr Construction in Process $285,000
Cr Deferred Tax $85,500
Cr Retained Earnings $199,500
Explanation:
A. Calculation to determine the amount of net income that would be reported in 2020
Using this formula
2020 Net income=Income before tax*Tax rate
Let plug in the formula
2020 Net income=$875,000*30%
2020 Net income=$262,500
Therefore the amount of net income that would be reported in 2020 is $262,500
B. Preparation of the entry(ies) that are necessary to adjust the accounting records for the change in accounting principle
Dr Construction in Process $285,000
Cr Deferred Tax $85,500
(30%*$285,000)
Cr Retained Earnings $199,500
($285,000-$85,500)
(To adjust the accounting records)
Ok so what is the question, I think you forgot a little bit of info
