Question

Lorenzo is considering starting a trucking company either in texas or oklahoma. he will relocate his family, which includes his wife, children, and parents, to reside in the same state as his business. what types of taxes may influence his decision of where to locate his businees?

Answer 1

Answer:

corporate tax, individual income tax, taxes on real estate, excise tax, sales tax, estate taxes

Explanation:

Taxes is a kind of fee or money that is paid to the government by the individuals in a country for the services, benefits, business entities that they receives. It is a compulsory payment for the citizens to its government to the particular country.

In the context, Lorentz wishes to move with his family to a new location, either to Texas or to Oklahoma and set up a trucking business there. But before moving he should consider the differences in the taxes to be paid to the government in both the places that can affect his decision.

The taxes may include :

--corporate tax

-- individual income tax

-- taxes on real estate

-- excise tax for fuel (gasoline)

-- sales tax

-- estate taxes