Tax Essays

  • Tax In Mauritius Essay

    987 Words  | 4 Pages

    In countries such as Italy, taxpayers regularly challenge tax legislation on constitutional grounds. Taxpayers in the US continue to challenge the US progressive rate structure at trial and appeals court levels without success. In Mauritius, we do not have ample case law related to the taxpayers’ right but in case of a dispute regarding taxation, the court should be able to censure any excessively high tax burden on citizens. Some rare case exist for instance when the NRPT was introduced. In 2010

  • Estate Tax History

    1134 Words  | 5 Pages

    History of the Estate Tax Estate tax was imposed way back in ancient times about 3000 years ago. In Egypt in the early era, it had been required to have a 10 percent tax on the transfer of assets at the time of death. Even in the first century AD, Augustus Caesar imposed taxes on inheritance and transfer of properties to all but close kin. In medieval period, since all estates and properties are owned by the king, an heir who wished to transfer properties must pay transfer taxes in order to grant

  • Soda Tax Case Study

    529 Words  | 3 Pages

    penny-per-ounce tax for sweetened beverages, which would have become effective on July 1; however, a judge blocked the tax last week. The soda tax would increase the price of sweet drinks, to 30%-50% higher, and it would have raised over 60 million dollars, which would have been used for the expense of other services. Cook County needed more money, but they were not going to increase property tax. Instead of raising the property tax to pay for spending, they decided to raise the sales tax. The people

  • Luxury Tax Inequality In Society

    2060 Words  | 9 Pages

    Luxury tax is not a solution to inequality within society. Introduction A real challenge for many economists is to find a way to decrease the financial inequality within society. Several economic and political possibilities exist to decrease the big differences between the rich and the non-rich. On the one hand, providing state subsidy might be a good tool for this challenge. In this way relatively poor people in society are helped to increase their welfare and to limit inequality. On the other

  • Tax Favored: Case Study

    1026 Words  | 5 Pages

    Danquis DeArmond Management 325 Saint Leo University 5/16/2016  First, we have Tax-Favored. Being Tax-Favored is favorable in tax terms for firms or companies to raise money through debt instead of going through the stock market. A company raises money through the stock market, and when that happens it is submitted to get taxed two times. This means the company’s earnings are taxed as part of the corporate income tax, after this is done normally the profits that are leftover get paid out to shareholders

  • Tax Synthesis Essay

    542 Words  | 3 Pages

    Governments need to tax its citizens in order to protect and serve them. Many politicians vehemently debate which taxation methods the government should or should not utilize. Most members of the United States of America pay taxes every year. No wonder taxes play a major role in politics. According to popular belief, we procure an income tax because it provides the best way to tax citizens. Pete Sepp, communications director for the Virginian-based Taxpayers Union, says that “we feel that income

  • Gift Tax Essay

    406 Words  | 2 Pages

    gifts that are not subject to the gift tax. This include charitable contributions, gift to a spouse, gifts to a political organization, and tuition or medical payments made on behalf of someone else. In the addition to the above, there is an annual gift tax exclusion that currently stands at $13K/recipient. In other words, you are allowed to give away up to $13K worth of gifts per recipient to as many recipients as you wish in a given year without any tax ramifications. Note that this limit is effectively

  • Income Tax Dbq

    521 Words  | 3 Pages

    In the late 1800s, the U.S Treasury Department used sales tax and tariffs to fund its federal budget. A tax or tariffs are funds that are paid to the government that are added when something is bought that is considered valuable. Because of the Civil war, there was a financial burden on the country. In 1861, Congress reacted by implementing taxes on individuals. The first income tax started off by taxing individuals 3% making more than $800, while people who made more than that gave up a larger

  • Junk Food Tax Case Study

    749 Words  | 3 Pages

    apply an indirect tax of a 2% on the price of junk food, an inelastic product. Junk food is a demerit good with negative externalities and therefore the government wants to decrease the quantity demanded. In this case the tax applied is an Ad Valorem tax as it is a percentage of the price. Introduction to the theory: An indirect tax changes the structure of a market provoking an increase in prices and a decrease in the quantity demanded and supplied. However the effect of the tax varies depending

  • Essay On Regressive Tax

    968 Words  | 4 Pages

    shall begin the paper with defining what progressive and regressive tax systems are. A progressive tax is one which places a larger percent on the high-income segment of earners than what it does from the low-income segment of earners. This form of tax depends upon how quickly a change arises in the tax rates in comparison to an increase in income. Regressive tax system on the other hand, which is not as popular as the former, is a tax that takes an increased percentage of income form the low-income

  • The European Tax Model

    1584 Words  | 7 Pages

    apply the European Tax model In the United States, the amount of tax income one owes is based on annual income level. United State citizens do not know where large fractions of their tax money goes like the citizens do in Europe. Tax rate in Europe is more beneficial because the United States does not use taxpayer money to primarily fund health, education and welfare (etc.) for every citizen like the European tax model sets out to do. The United States should adopt the European tax model because it

  • Tax Form 990 Case Study

    943 Words  | 4 Pages

    About the Non Profit Tax Forms 990 Very similar to the other businesses, even the non profit organizations need to go through the hectic procedure of filing their tax returns. In spite of the fact that a non profit organization might be tax-exempt, it still needs to file and even pay the taxes. It is to be kept in mind that tax compliance is required at country, local, federal and state levels. Thus, non profit organizations cannot afford to ignore this problem. Some significant tax considerations and

  • 2001 Bush Tax Cuts Summary

    1162 Words  | 5 Pages

    seemingly favored the 2001 Bush Tax Cuts, a policy that disproportionately favored the wealthy elite and reduced funding for social programs while increasing the national debt, even though the tax cuts were in direct conflict with the economic self-interest and policy preferences of most voters, such as: government programs and deficit reduction. Bartel’s primary argument centers on pervasive misinformation and/or ignorance of the electorate surrounding the 2001 Bush Tax Cuts. Hacker and Pierson cite

  • Essay On Flat Tax

    1766 Words  | 8 Pages

    implement a flat tax? According to Steve Forbes “For many years, people have said, ‘Make the rich pay more,’ and many politicians have said, ‘The rich people need to pay their fair share,’” (Forbes) but what do we think is really fair? In this essay, I will show some of the benefits of implementing a single flat income tax. I will also some of the effects the flat tax will have on the lower class, middle class, and the upper class. I will then show the effects of implementing a flat tax on the United

  • Tax Fairness Literature Review

    810 Words  | 4 Pages

    Tax Fairness: Tax fairness as perceived by prior literatures could either be vertical or horizontal fairness. According to Erich, Niemirowski & Wearing (2006) vertical tax fairness is when taxpayers’ are being treated or taxed with different rate based on their different business activities. On the other hand, horizontal tax fairness is the instance where taxpayers’ are being treated equally in terms of their taxes (Michael, 1978). Horizontal tax fairness indicates that taxpayers’ that are into same

  • Gas Tax Dilemmas

    2096 Words  | 9 Pages

    GAS TAXES: The US's Dilemma The reasons behind imposing a tax Taxes are is money collected by a government from businesses or individuals directly or indirectly against services provided to the community. They are important sources of revenue for the government, therefore everybody is obliged by law to pay taxes. If we want to stay in certain country, it is necessary for us to pay tax. All services provided by governments in both levels (local and central) such as health care, building roads

  • Uk's Tax System Analysis

    1075 Words  | 5 Pages

    libertarian paternalism on the example of the UK's tax system. Another aim is to find out if the «nudge» approach is effective in the context of tax system. This thesis aims to find out if the implementation of Nudge theory courses any results and how it changes tax system from the side of government and the side of citizen. This thesis hypothesizes that implementation of libertarian paternalism approach in the UK's tax system leads to increase in tax compliance. The reports of the UK Government and

  • Pros And Cons Of The Tax Reform Act Of 1986

    601 Words  | 3 Pages

    A. Policy The Tax Reform Act of 1986 (Winfrey 2016) sponsored by two Democrats, Representative Richard Gephardt of Missouri and Senator Bill Bradley of New Jersey. The goal was to make the tax code easier and widen the tax base. President Reagan signed the Tax Act on October 22, 1986. The macroeconomic problem being address is, The Tax Reform Act of 1986 did not significantly reduce the number of tax expenditures. (McBride 2013) The Tax Reform Act of 1986 lowered the top tax rate from 50 percent

  • Mexican Tax Case Study

    2242 Words  | 9 Pages

    Mexican Tax Consequences 1. As a result of the sale of the building and land, St. John Mexico will accrue Mexican income tax liability of $1. 3M (using the U.S. net book value of the building and land)/$1.7M (Using the Mexican net book value). 2. As a result of the lease, the company will be assessed an annual VAT amount of $ 93K on the annual lease payment. Additionally, St. John Mexico’s minimal taxable income will be increased by 44K due to the increase in the operating expense as a result

  • State Income Tax Benefits

    1232 Words  | 5 Pages

    State Income Tax Could be Beneficial to Texas Of the fifty-two states in the United States of America, forty-three states elect to utilize a state income tax, which is a tax on the income of individuals. Each state has a widely different range of tax levels that differ from state to state. This means that there are nine other states who either choose to opt out completely or obtain virtually no state income tax, Texas being one of the nine. Although I do not consider this the best decision in the