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10 Cards in this Set
- Front
- Back
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Tax
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A payment to support the cost of government
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Taxpayer
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any person or organization required by law to pay a tax to a governmental authority
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Jurisdiction
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the right of a government to levy tax on a specific person or organization
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Tax base
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an item, occurance, transaction or activity with respect to which a tax is levied
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Tax equation
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Tax (T) = Rate (r) × Base (B)
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Property Tax
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Land
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Estate Tax
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Accumulated wealth
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Sales Tax
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Purchases
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Income Tax
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Wages, interest and dividends
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Value Added Tax (VAT)
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Production
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