Which, If Any, of the Following Taxes Are Proportional (Rather

question 25

Multiple Choice

Which, if any, of the following taxes are proportional (rather than progressive) ?

• A)Federal corporate income tax.
• B)Federal employment taxes (i.e., FICA, FUTA).
• C)Federal estate tax.
• D)Federal gift tax.
• E)All of the above.

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Definitions:

Asset Improvements

Enhancements or modifications to an asset that increase its value or extend its useful life, often capitalized and depreciated over time.

Extraordinary Repairs

Expensive and infrequent repairs that significantly extend the life of an asset beyond its original estimate.

Copyright

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Patent

A form of intellectual property protection that grants the patent holder exclusive rights to make, use, sell, and distribute an invention for a certain period.