An Example of a Regressive Tax in Canada Is

question 63

Multiple Choice

An example of a regressive tax in Canada is

• A) any one of the provincial sales taxes.
• B) the typical property taxes in Canadian cities and towns.
• C) the corporate income tax.
• D) the federal income tax.
• E) the provincial income taxes.

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Definitions:

Subchapter S Status

A tax status elected by qualifying small businesses where income, losses, deductions, and credits flow through to the shareholders, preventing double taxation.

Shareholders

Shareholders are individuals or entities that own one or more shares of stock in a corporation, giving them ownership interests in the company.

Resident Aliens

Individuals who are not citizens of the United States but meet certain residency or physical presence tests and are subject to U.S. taxes on global income.

Electing

The act of choosing a specific tax treatment or option as permitted under tax laws.