Examlex
Based on the following information, what is the net amount that this equipment should be reported at on FlexiHose's balance sheet at December 31, 2012?
Payroll Tax
Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay to their staff.
Regressive
A term typically used to describe tax systems that take a smaller percentage of income as income increases, disproportionately affecting lower-income earners.
Low Income Levels
describe the economic condition where individuals or households earn less than the median income of a specific geographic area, often leading to limited access to basic needs and services.
Corporate Profits Tax
A tax imposed on the net income of corporations.
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