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2 years ago

Highlight the difference between progressive and regressive tax.

Business

1 answer:

Misha Larkins [42]2 years ago

4 0

Answer:

see below

Explanation:

A progressive tax system imposes taxes depending on income earned. The higher the income, the higher the tax rate. It means individuals and entities with a higher income with pay more taxes. A progressive tax system promotes equity by imposing higher taxes on the wealthy and lower taxes on the poor. The US income tax system is an example of a progressive tax.

A regressive tax system does not discriminate on income. It taxes all eligible taxpayers equally regardless of their income level. A regressive tax applies the same tax rate for everyone. Sale tax imposed on goods sold is an example of regressive tax. The regressive tax system takes a higher proposition of income from the low-income earners.

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Classify this form of business:

Viktor [21]

Answer:

Limited Liability Partnership / Limited Liability Company.

Explanation:

Limited Liability Partnership: A limited liability relationship is a company in which certain or all members have defined obligations, based on the law. Consequently, it can show collaboration and organizational features. Each partner in an LLP is not accountable or liable for any wrongdoing or incompetence of another party.

Limited Liability Company: A limited liability company is a management structure whose proprietors are not personally responsible for the obligations or responsibilities of the business. Limited liability corporations are hybrid organizations that combine a company's features with that of a partnership or sole business entity.

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2 years ago

Curtis purchased stock with an initial share price of $140, and sold it when the share price was $119. While he owned the stock,

kondaur [170]

Answer:

i think it is 31 i hope this helps brainlist pls

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2 years ago

Zale wants to determine how his stock portfolio is doing compared to the overall market. What should he do? A. compare his stock

kvv77 [185]

Compare to index like SP500

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3 years ago

Read 2 more answers

Correll Company, which operates a mail-order clothing business, is physically located in State L. This year, the firm shipped $1

Wewaii [24]

Answer:

Correll Company

a. Yes State R residents who purchased Firm L (out-of-state) merchandise owe use tax on their purchases.

b. State R would collect $1,080,000 additional revenue ($18 million * 6%) if Correll was required to collect the use tax at the point of sale and then remit the tax collected to State R.

Explanation:

a) Data and Calculations:

Cost of merchandise to customers in State R = $18 million

State R's sales and use tax on the purchase and consumption of retail goods within the state = 6%

Amount that Correll could collect for State R = $1,080,000 ($18 million * 6%)

b) Note that Correll (Firm L) collecting the State R use tax does not affect State R residents' legal liability to pay the use tax. Unfortunately, not many people actually remit their self-assessed use tax.

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3 years ago

An electronics store has a current inventory of 50 stereo systems. The lowest priced stereo system in the store sells for $800,

hammer [34]

Answer:

B) 32

Explanation:

let H = number of expensive high price stereo systems

let L = number of less expensive low price stereo systems

H + L = 50

3,000H + 800L = 110,000

H = 50 - L (now replace)

3,000 (50 - L) + 800L = 110,000

150,000 - 3,000L + 800L = 110,000

150,000 - 110,000 = 3,000L - 800L

40,000 = 2,200L

L = 40,000 / 2,200 = 18.18 ≈ 18 lower priced stereo systems

H = 50 - 18 = 32 higher priced stereo systems

(3,000 x 32) + (800 x 18) = 96,000 + 14,400 = 110,400

Even though the answer is not exact, if you had 33 high cost stereo systems, your inventory's cost = $112,600 which is $1,600 off

3 0

3 years ago