Which of the Following Does Not Characterize Federal Transfer Taxes

question 46

Multiple Choice

Which of the following does not characterize federal transfer taxes?

• A)The tax is imposed on individuals but not on corporations.
• B)The tax is based on the value of property transferred by gift or at death.
• C)The tax is a transaction tax.
• D)All of the above characterize federal transfer taxes.

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Definitions:

Judicial Review

The power of courts to assess the constitutionality of laws or governmental actions and to override those found to be unconstitutional.

Constitution

A system of fundamental principles or established precedents according to which a state or other organization is governed.

Federalism

Federalism is a political system where power is divided between a central government and smaller political units, such as states.

Authority

The capability or privilege to direct actions, decide on matters, and command adherence.