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2 years ago

What is progressive tax and what is it based on?

Business

2 answers:

Nata [24]2 years ago

8 0

Explanation:

When the percentage of tax on the taxable income increases with the increase in the income of a person, it is called as the Progressive Tax. Its name suggests that as the income progresses, the tax also progresses. More the income, more the tax and vice versa. There are three main types of taxes, one is Proportional Tax, other is Progressive and the last one is Regressive tax. Out of these three, this progressive tax is the one which increases with the increase in the taxable income of the taxpayer.

kozerog [31]2 years ago

3 0

A progressive tax takes a larger percentage of income from high income groups than from low income groups and is based on the concept of ability to pay.

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A municipal issuer official has lost her re-election campaign and has just left elected office. She is soliciting political cont

Sindrei [870]

Answer: Because the issuer official no longer holds elected office, the contribution limits of Rule G-37 do not apply.

Explanation:

Rule G-37 is a way to ensure that Municipal Issuers are not unduly influenced by those who donated to their campaigns to get into a position to become Municipal Issuers.

It prohibites for 2 years, Municipal Finance Professionals (MFP) amongst others from engaging in municipal securities business with a Municipal issuer.

An exception however, is that if the MFP is entitled to a vote for the Official in question, they can donate no more than $250 per election.

Seeing as the Municipal Issuer Officer has lost her position, the MFP need not worry about this $250 limit as it no longer applies to her. The MFP is free to donate $500 to the "clean-up" campaign.

5 0

3 years ago

What is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually?

klasskru [66]

Answer:

Explanation:

The yearly amount of interest earned on a $100 deposit at 4 percent rate is:

$Ai=$100*0.04\\Ai=\$4$

Since simple interest investments yield a constant interest each year, the amount earned after two years is:

$I=2*\$4\\I=\$8$

The total amount earned is $8.

7 0

3 years ago

First Financial Auto Loan Department wishes to know the payment required at the first of each month on a $10,500, 48-month, 11%

julia-pushkina [17]

Answer:

First Financial would divide the $10,500 loan by the present value of annuity due of 1.

The correct answer is C

Explanation:

Present value of annuity formula is used for determining the amount of loan payment. Since the payments will be made at the beginning of each month, we will apply the formula for present value of annuity due. In order to determine the amount of monthly payment, we will divide the principal by the present value of annuity due of 1.

7 0

2 years ago

The sarbanes-oxley act of 2002 established requirements for ____. noncompliance can result in penalties of

IrinaK [193]

<span>The Sarbanes-Oxley Act of 2002 established new requirements for corporate governance to prevent fraudulent behavior in business. An accounting oversight board and financial reporting requirements including instituting a code of conduct for senior financial officers are the main focuses of this act.</span>

5 0

2 years ago

Drius Security stock has a yearly dividend of $12.11. If you own 132 shares of Drius Security, how much do you get paid in quart

Alex

Answer:

d. $399.63

Explanation:

Data provided in the given question

Dividend = $12.11

Shares = 132

The calculation of quarterly dividends is shown below:-

Quarterly dividends = Dividend × Shares ÷ Number of quarters in a year

= $12.11 × 132 ÷ 4

= $399.63

Therefore, to compute the quarterly dividends we simply divide shares with number of quarter in a year and multiply with dividend.

4 0

2 years ago