Of the Various Taxation Options Available to OECD Countries, Those

question 36

Multiple Choice

Of the various taxation options available to OECD countries, those that had the most negative impact on gross domestic product were

• A) property taxes.
• B) consumption taxes.
• C) corporate taxes.
• D) personal income taxes.

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Definitions:

FUTA

FUTA (Federal Unemployment Tax Act) is a United States federal law that imposes a payroll tax on any business with employees, the funds are used to pay unemployment benefits.

SUTA

State Unemployment Tax Act, referring to state-level taxes that employers must pay towards state unemployment insurance programs.

Overtime Rate

The rate of pay for work performed beyond the normal working hours, typically higher than the regular pay rate.

Total Wages

The sum of all compensation, including salaries and wages, paid to employees over a specified period.