answersLogoWhite

0

Benefits principle and Ability to pay principle.

User Avatar

Wiki User

12y ago

What else can I help you with?

Continue Learning about Accounting

What are the four characteristics of a good tax?

The four characteristics of a good tax are simplicity, efficiency, certainty, and equity (fairness).


Principles of a good tax system?

The principles of good tax system is that it is efficient, understandable and equitable. The benefit principle is also another principle of a good tax system.


What are the computer applications used in income tax department?

Tax software are the main computer applications that are used by tax departments. A regional computer system can get all the information on income tax that are reported/


Why is the tax expense reported on the income statement comprised of current and deferred tax?

This is in accordance with Generally Accepted Accounting Principles, SFAS No. 109, "Accounting for Income Taxes". The theory is that even if you don't owe tax today on a given temporary difference, you will one day owe (or get the tax benefit) of said temporary difference. Remember: current tax expense= your tax bill this year deferred tax expense/ benefit=your future tax expense or benefit on the book/tax temporary items


How do different states assess the amount of state income taxes they collect?

Some tax income at a flat percentage rate, a proportional tax. Some charge a percentage of a person's federal income tax. Others have a progressive tax like the federal income tax. A few states only tax interests and dividends from investments, not wages and salary. Seven states choose to impose no income tax. These states are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.

Related Questions

What are the four characteristics of a good tax?

The four characteristics of a good tax are simplicity, efficiency, certainty, and equity (fairness).


Principles of a good tax system?

The principles of good tax system is that it is efficient, understandable and equitable. The benefit principle is also another principle of a good tax system.


Can the tax assessor come on my property?

Yes, the tax assessor has the legal right to come onto your property to assess its value for tax purposes.


Can a tax assessor legally enter my property in Texas?

In Texas, a tax assessor can legally enter your property to assess its value for tax purposes, as long as they provide proper notice and do not trespass.


What is form no 17?

Form No. 17 is a specific tax form used in India for reporting income from capital gains. It is primarily utilized by taxpayers to declare the sale of capital assets, such as property or investments, and to calculate the associated capital gains tax. This form helps the tax authorities assess the income accurately and ensure compliance with tax regulations.


What is Las Vegas resort tax?

Every hotel in the state assess a tax collected on behalf of the state. The rate is 12% for strip hotels


Can a tax assessor legally enter my property?

Yes, a tax assessor can legally enter your property to assess its value for tax purposes, as long as they provide proper notice and follow any relevant laws or regulations.


Can the tax assessor legally enter my property?

Yes, the tax assessor can legally enter your property to assess its value for tax purposes, as long as they provide proper notice and follow any relevant laws or regulations.


How did the whiskey rebellion reflect a continuing edorsemt of revolutionary principles?

it was caused by the whiskey tax


What 6 letter word means tax?

For the noun tax, meaning a charge levied by the government, a six-letter synonym could be custom. For the verb tax, meaning to levy a charge on property, a synonym could be assess.


How do you implement the batho Pele principles?

imformation to shered. value for money to pay tax cotacy


What are the Principles and theories of taxation?

Some principles of taxation include equity, efficiency, simplicity, and neutrality. Theories of taxation include the benefit principle, ability-to-pay principle, and the theory of tax incidence, which examines how the burden of the tax is distributed among different groups.