1.
An individual has taxable income of $60,000. The first $20,000 is taxed at 20%, the next $20,000 is
taxed at 20%, and all income above $40,000 is taxed at 20%.
Which tax structure is being applied to the individual's taxable income?
Your
Answer
Base
Regressive
Progressive
Proportional
Correct
2.
Which federal income tax structure imposes an increasing marginal tax rate as the tax base increases?
Your
Answer
Regressive tax
Incremental tax
Progressive tax
Proportional tax
Correct
3.
Which tax rate informs taxpayers the amount of tax they will pay when earning the next dollar?
, Your
Answer
Marginal
Average
Effective
Statutory
Correct
4.
What describes a gift tax?
Tax on the retail sale of particular products
Tax on the fair market value of property transfers
Tax on the retail price of goods and services
Tax on income earned by an individual
Correct
5.
Which provision is an encouragement to improve social conditions?
Accident and health insurance
, Research and development
Tax depreciation
Rapid expensing of pollution control facilities
Correct
6.
Taxpayer A and Taxpayer B are both single and live in the same state. Taxpayer A has income of
$60,000, and Taxpayer B has income of $40,000. They each pay $3,000 in sales tax during the year. This
represents 5% of Taxpayer A’s income and 7.5% of Taxpayer B’s income. The state considers equality
through its tax structure.
Which type of tax structure is represented?
Your
Answer
Regressive
Progressive
Flat
Proportional
Correct
7.
Which type of goal is achieved when tax law provides incentives for installing solar energy systems?
Your
Answer
Economic
, Your
Answer
Social
Revenue
Equity
Correct
8.
Which entity is usually treated as a partnership?
Your
Answe
S corporation
LLC
C corporation
Sole proprietorship
Correct
9.
An Eleventh Circuit client who files in the U.S. Court of Federal Claims wants to know whether to
include the terms of multiple options to renew a sale-leaseback to calculate a deduction.
What is the authoritative reference?
A Second Circuit case which used disjunctive analysis
An individual has taxable income of $60,000. The first $20,000 is taxed at 20%, the next $20,000 is
taxed at 20%, and all income above $40,000 is taxed at 20%.
Which tax structure is being applied to the individual's taxable income?
Your
Answer
Base
Regressive
Progressive
Proportional
Correct
2.
Which federal income tax structure imposes an increasing marginal tax rate as the tax base increases?
Your
Answer
Regressive tax
Incremental tax
Progressive tax
Proportional tax
Correct
3.
Which tax rate informs taxpayers the amount of tax they will pay when earning the next dollar?
, Your
Answer
Marginal
Average
Effective
Statutory
Correct
4.
What describes a gift tax?
Tax on the retail sale of particular products
Tax on the fair market value of property transfers
Tax on the retail price of goods and services
Tax on income earned by an individual
Correct
5.
Which provision is an encouragement to improve social conditions?
Accident and health insurance
, Research and development
Tax depreciation
Rapid expensing of pollution control facilities
Correct
6.
Taxpayer A and Taxpayer B are both single and live in the same state. Taxpayer A has income of
$60,000, and Taxpayer B has income of $40,000. They each pay $3,000 in sales tax during the year. This
represents 5% of Taxpayer A’s income and 7.5% of Taxpayer B’s income. The state considers equality
through its tax structure.
Which type of tax structure is represented?
Your
Answer
Regressive
Progressive
Flat
Proportional
Correct
7.
Which type of goal is achieved when tax law provides incentives for installing solar energy systems?
Your
Answer
Economic
, Your
Answer
Social
Revenue
Equity
Correct
8.
Which entity is usually treated as a partnership?
Your
Answe
S corporation
LLC
C corporation
Sole proprietorship
Correct
9.
An Eleventh Circuit client who files in the U.S. Court of Federal Claims wants to know whether to
include the terms of multiple options to renew a sale-leaseback to calculate a deduction.
What is the authoritative reference?
A Second Circuit case which used disjunctive analysis
