Garrett may exclude his income tax as a single individual is $250,000.
Income tax is an immediate tax that a government levies on the profits of its citizens. The profits Tax Act, 1961, mandates that the principal authorities accumulate this tax. The government can exchange the income slabs and tax costs every 12 months in its Union budget. Profits do not most effectively mean cash earned in the form of income.
For the economic 12 months 2022-23, an individual is required to pay profits-tax if his/her overall earnings exceed Rs. 2,50,000. In the case of resident people of the age of 60 years and above but under 80 years, the fundamental exemption restriction is Rs. 3,00,000 and for resident people of eighty years and above, the restriction is Rs.
The federal income tax prices remain unchanged for the 2021 and 2022 tax years: 10%, 12%, 22%, 24%, 32%, 35% and 37%. The income brackets, even though, are adjusted barely for inflation. Examine for greater approximately the federal profits tax brackets for Tax 12 months 2021 (due April 15, 2022) and Tax yr 2022 (due April 15, 2023).
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Answer and Explanation:
In an action based on strict liability, a plaintiff must show that
(1) a product was defective,
(2) the defendant was in the business of distributing the product,
(3) the product was unreasonably dangerous due to the defect,
(4) the plaintiff suffered harm,
(5) the defect was the proximate cause of the harm, and
(6) the goods were not substantially changed from the time they were sold.
A plaintiff does not have to show that there was a failure to exercise due care, and this distinguishes an action based on strict liability from an action based on negligence, which requires proof of a lack of due care. If Bob establishes his case, the court in this problem is most likely to rule in his favor, because the manufacturer is strictly liable in this case. Strict liability allows a plaintiff to recover damages for injuries resulting from product defects without proof of fault.
Answer: The price of the basket of goods falls in the U.S. and rises in Taiwan.
Explanation: Exchange rate is the price of a given currency when bought with another another,it is also known as the value of a currency when compared with others such as the United States Dollar. Various factors have been understood to be the cause of the rise and fall of Currency. This will include the value of a country's export and its balance of trade etc
When the price of the basket of goods falls in the United States and rises in Taiwan it will certainly cause the U.S. real exchange rate with TAIWAN to fall.
Answer:
conduct interviews and surveys or organize a focus group
Explanation:
Formal research involves gathering data in a controlled, structured, and objective manner, so much so that a plan is followed very strictly and all information is documented. Therefore in order for Brittany to conduct a formal research, she should conduct interviews and surveys or organize a focus group. This would allow her to control the situation and document and analyze all the information gathered.
Answer:
The number of firms selling laptop computers decreases
Explanation:
Price ceiling is the legal maximum price for a good or service. It is a government imposed price control mechanism put in place to limit how high the price for a product, services or commodities can be.
Government out this in place so as to protect the consumers by ensuring commodities prices don not become expensively high or conditions that might warrant commodities to be expensive.
In the instance above, since the government have placed a price ceiling on sales of laptop computers, the factor/event that would make the market change from price ceiling that is not binding to one that is binding is if the number of firms selling laptop decreases, this would result that the price ceiling not initially having effect on the market price to do have effects on the market prices as the required price set for the sales of laptop will be at price below equilibrium and bind on the remaining number of sellers of laptops in the market. It will mean that the remaining firms selling laptop will not be able to satisfy the market and demand for laptop because the price has been artificially set low by the government.
