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Which phrase best describes the basis of seals taxes

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Danny Vazquez

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4y ago

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What phrase best describes the basis of sales taxes?

The phrase that best describes the basis of sales taxes is "consumption-based taxation." Sales taxes are levied on the purchase of goods and services, meaning they are applied at the point of sale and are ultimately paid by the consumer. This system aims to generate revenue for governments based on consumer spending rather than income or property ownership.


How does a budget differ when you have an irregular income vs a predictable income?

If a person has predictable income this means that they can create a budget that stems out for weeks or months without having to change it much. A person with irregular income streams will need to create a budget with shorter time frames as they will need to make adjustments more often. It is best to budget irregular income on a weekly or bi-weekly basis.


What is best definition of taxable income?

the portion of your income that is eligible for taxation


Best definition of taxable income?

The portion of a persons income that is eligible for taxation


What best describes how corporations are taxed on dividend income?

Corporations are typically taxed on dividend income at the corporate tax rate when they earn profits. However, when these profits are distributed as dividends to shareholders, they are taxed again at the individual level, leading to a phenomenon known as "double taxation." This means that the same income is taxed first at the corporate level and then again when received by shareholders. Some jurisdictions may offer tax credits or reduced rates on dividend income to mitigate this issue.