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True. Governments have the authority to levy and collect taxes as a means to generate revenue for public services and infrastructure. This process is essential for funding various functions, including education, healthcare, and public safety. Taxation is regulated by laws and policies established at different levels of government.
What else can I help you with?
True or false FICA taxes and federal income taxes are levied on employees earnings without limit?
False and True, in that order. FICA has limits, Fed inc doesn't.
Are net taxes indirect business taxes minus transfer payments true or false?
False. Net taxes are typically defined as total taxes collected by the government minus transfer payments made to individuals, not as indirect business taxes. Indirect business taxes are a specific category of taxes, such as sales and excise taxes, but they do not encompass the entirety of net taxes.
Can special taxes be placed on an estate true or false?
True. Special taxes, such as estate taxes or inheritance taxes, can be imposed on an estate based on its value and the jurisdiction's laws. These taxes are typically assessed when a person passes away and their assets are transferred to beneficiaries. The specific rates and regulations vary by country and sometimes by state or province.
True or false your take-home pay is known as your gross pay?
That is false. Gross pay is the amount that an employer pays, before deductions for taxes. What you actually take home is called the net pay.
When companies pay the government collected sales tax sales taxes payable is credited and cash is debited true or false?
True. When companies pay the government the collected sales tax, they credit the "Sales Taxes Payable" account, which reduces the liability, and they debit the "Cash" account to reflect the outflow of cash. This transaction effectively transfers the sales tax liability to the government.
Under the Articles of Confederation Congress had no power to collect taxes True or False?
True. Under the Articles of Confederation the government had no power to collect taxes.
Although the colonial army lacked equipment and money at the beginning of the war Congress could levy taxes which would alleviate the problem true?
false.
Congress can levy a tariff on goods sent out of or imported out of state?
not true
Is it true that the power to levy federal income taxes rests with the us congress?
true
True or false members of the first and second estates paid many taxes?
False
True or false FICA taxes and federal income taxes are levied on employees earnings without limit?
False and True, in that order. FICA has limits, Fed inc doesn't.
True or false-is it true the articles of confederation gave the national government the power to set taxes and enforce the law?
false
The economic recovery tax act of 1981 increased taxes on business true or false?
False
Both corporate and individual income taxes are set at a progressive rate is that true or false?
True.
Do all bills having to do with taxes originate in the House of Representatives true or false?
True: all bills having to do with taxes must originate in the House.
True or false By 1740 all Colonial assemblies controlled taxes and spending and were able to initiate laws?
true or false ....By 1740, all Colonial assemblies controlled taxes and spending and were able to initiate laws.
One way to participate in your political system is to pay taxes. true or face?
false, everyone has to pay taxes
