Using the Following Choices, Show the Justification for Each Provision

question 80

Multiple Choice

Using the following choices, show the justification for each provision of the tax law listed.
a. Economic considerations
b. Social considerations
c. Equity considerations
d. Both a. and b.
-Import taxes (customs duties)

• A)Deferral of gains from involuntary conversions
• B)Carryforward of net operating losses
• C)"No change" is a possible result
• D)State income tax applied to a visiting nonresident
• E)IRS special agent
• F)Undoing the "piggyback" result
• G)Ideal budget goal as to new tax legislation
• H)Every state that has a general sales tax has one
• I)Imposed by all states and the Federal government
• J)Imposed by some states but not the Federal government
• K)Imposed only by the Federal government
• L)No correct match provided

---

Definitions:

Fletcher v. Peck

A landmark Supreme Court case in 1810 that ruled state laws could not impair a contract, reinforcing the sanctity of contracts and showcasing early judicial review.

U.S. Constitution

The supreme law of the United States that outlines the national frame of government and the fundamental laws and principles by which the country is governed.

State Law

Laws that are enacted and enforced by individual states within a country, as opposed to federal laws which apply to all states.

Saint Domingue

The French colony on the island of Hispaniola from 1697 until 1804, which became the wealthiest in the Caribbean due to its slave-based sugar and coffee industries before leading to the Haitian Revolution.