Taxation 1 C237 WGU

Western Governors University

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Taxation 1 C237 WGU, Exam Review Questions and answers, rated A+

Taxation 1 C237 WGU, Exam Review Questions and answers, rated A+
Exam (elaborations) • 2 pages • 2023
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5 Characteristics of 'good' tax structure - -1. Convenience - Easily accessed 2. Certainty - Ensure government stable revenue, taxpayers have some degree of knowledge of their tax liability 3. Economy - Minimal compliance/admin costs 4. Equity - Fairness of tax to the taxpayers 5. Simplicity - Tax system easily understood/comply with 5 characteristics towards federal income tax - -Equity, Certainty, Convenience, Economy DOES NOT meet Simplicity 5 characteristics towards State sales tax...