All categories

3 years ago

Tax rates in which the percentage of tax is the same regardless of the level of income is MOST LIKELY a

Business

1 answer:

saul85 [17]3 years ago

4 0

Answer:

Proportional tax system

Explanation:

A proportional tax system levies an equal tax rate on everyone regardless of their income level. It is also known as the flat-rate tax because it treats the wealthy, middle class, and low-income earners equally. The proportional tax system simplifies tax filing as the same tax rate will apply to everyone.

The proportions tax system contrasts with the progressive tax system, which bases the tax rate on the taxpayer's income.

You might be interested in

At the beginning of the year, Uptown Athletic had an inventory of $640000. During the year, the company purchased goods costing

Nataly_w [17]

Answer:

Cost of Goods Sold = $1,700,000

Gross Proft = $1,740,000

Explanation:

We solve this assingemtn using the inventory identity:

$$$Beginning Inventory + Purchase = Ending Inventory + COGS$

We post the given and solve for the missing part:

640,000 + 2,020,000 = 960,000 + COGS

COGS = 640,000 + 2,020,000 - 960,000 = 1,700,000

Next we use the COGS value to calculate the gross profit.

$Sales \: Revenues- \: COGS = \: Gross \: Profit$

3,440,000 - 1,700,000 = 1,740,000

8 0

4 years ago

What is allowable self-employment plan contributions.

matrenka [14]

<h3><em>Answer:</em></h3><h3><em>Answer:For a self-employed individual, contributions are limited to 25% of your net earnings from self-employment (not including contributions for yourself), up to $61,000 for 2022 ($58,000 for 2021; $57,000 for 2020). You can calculate your plan contributions using the tables and worksheets in Publication 560</em></h3>

4 0

3 years ago

Wilson, Bart, and Susan Fields decide to set up a corporation together called Fields, Inc. They follow the correct procedures fo

LUCKY_DIMON [66]

Answer:c. pierce the corporate veil due to the failure to hold required corporation meetings.

Explanation:Corporation is a form of business operation that declares the business as a separate, legal entity guided by a group of officers known as the board of directors. A corporate structure is perhaps the most advantageous way to start a business because the corporation exists as a separate entity.

8 0

3 years ago

Burt has gone to a commercial bank to negotiate a loan for the LLC in which he is a member. He tells the bank that he is authori

katrin [286]

c. Check the articles of organization.

7 0

3 years ago

Researchers at PPG Industries spent considerable time, effort, and money developing a bluish windshield that would let in filter

djverab [1.8K]

Answer:

Production Oriented

Explanation:

A business that practices a manufacturing strategy tends to ignore the needs of its consumers and only focus on making a quality product effectively, called Production oriented company.

In this case, PPG Industry only concentrates on making a high-quality windshield, and ignore the purchasing power of their customers, also their scientist ignore the color choice of the consumer.

8 0

4 years ago