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WGU C237 Taxation 1 Pre-Assessment | 70 Questions with 100% Correct Answers | Verified | Latest Update

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What year was the U.S income tax on individuals permanently established? - 1913 What is the highest level of legislative authority of tax law in the United States? - Internal Revenue Code What are two primary sources of tax law in the United States? - Court Decisions and Revenue Rulings What is a certainty when evaluating a tax system? - Taxes can be estimated if annual income is the same What is an example of equity when evaluating a tax system? - Each taxpayer pays a different amount based on their income level What increases the tax base of an individual? - Interest Income What is the nature of a progressive tax rate structure - The rate of tax increases as the tax base increases

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