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100
relatively high tax designed to raise revenue and discourage consumption of a socially undesirable product
What is Sin Tax
100
The final burden of the tax
What is Incidence of a tax
100
True or False? Taxes can affect productivity and the economic growth
What is True
100
general state or city tax
What is Sales Tax
100
federal tax levied on the wages, salaries, and other income of individuals
What is Individual income tax
200
Federal Insurance Contributions Act- tax levied on employers to support social security and medicare
What is FICA
200
tax on wages and salaries deducted from paychecks
What is pay roll taxes
200
tax rate that applies to the next dollar of taxable income
What is Marginal Tax
200
federal health care program for senior citizens
What is Medicare
200
True or False? Taxes can't be used to encourage or discourage certain types of activities.
What is False
300
fee paid for the use of a good or service
What is User Free
300
tax on imported products
What is Customs Duty
300
Equity Simplicity Efficiency
What is Criteria for effective Taxes
300
Benefit Principle Ability to Pay Principle
What is Principles of Taxation
300
tax on corporate profits
What is Corporate income tax
400
revenue tax levied on the manufacturer or sale of selected items
What is Exercise Tax
400
Proportional Progressive Regressive
What is Types of Taxes
400
tax paid by the donor on transfer of money or wealth
What is gift tax
400
person who examines and assesses property values for tax purposes
What is tax assessor
400
funds that one level of government receives from another level of government
What is Intergovernmental revenue
500
annual report by a taxpayer filed with the local state or federal government detailing income earned and taxes owed
What is Tax Return
500
tax on things like real estate, buildings, furniture, stock, bonds and bank accounts
What is Property Tax
500
tax on the transfer of property when a person dies
What is estate tax
500
market structure in which average costs of production are lowest when a single firm exists
What is Natural Monopoly
500
local governments receive the largest part of their revenues from this
What is Intergovernmental revenue