Homework questions are really best answered by referring to your class materials. What is the definition of progressive VS regressive...and how is the gift tax applied?
A Poll tax is a direct tax. A poll tax, head tax, or capitation is a tax of a uniform, fixed amount per individual (as opposed to a percentage of income).
In the constitution, Tax on voters is called Poll tax
The most popular form of tax at the county level is sales tax.
The Federal income tax is a progressive tax because the more a person makes in revenue, the more tax they will have to pay. The tax level or percentage is higher for those with a higher income, too.
The tax percentage for the gift tax is generally 45 percent.
90000 dollars is the gift tax of a gift of 200000 dollars.
gift = no sales tax
no....
Gift tax, when applicable, is paid by the one giving the gift,
Estate has to do with when someone dies. Gift tax has to do with when someone makes a gift of larger than a certain value.
Yes, if the gift exceeds the gift-giver's annual exemption of $15,000 per recipient, the gift giver must pay the gift tax.
There is no tax on a car given as a gift in MA.
You avoid gift tax on your property by not gifting it to anyone else. The recipient of a gift has absolutely no tax obligation.
A gift tax is very rare and most Americans don't need to pay tax on ordinary gifts. The person who gives the gift, not the person who receives it, must pay the tax.
There is a federal gift tax if someone gives you more than the $15,000 annual gift tax exemption, and they would need to file an IRS Form 709 and pay the tax.
no tax if that is the only gift of that calendar year