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A Lack of Compliance in the Payment of Use Taxes

question 191

Essay

A lack of compliance in the payment of use taxes can be resolved by several means. In this regard, comment on the following:
a.Registration of automobiles.
b.Reporting of Internet purchases on state income tax returns.


Definitions:

Nominal Rate

The interest rate before adjustments for inflation, indicating the gross rate of return on an investment.

Holding-Period Return

The total return received from holding an asset or portfolio over a specified period, accounting for all income and capital gains.

Dividend

A portion of a company's earnings distributed to its shareholders, usually in the form of cash payments or additional shares.

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