Which of the Following Is True Regarding Taxes in Texas

question 10

Multiple Choice

Which of the following is true regarding taxes in Texas?

• A) There is no sales tax on luxury items.
• B) Personal income is not taxed.
• C) Ad valorem taxes are only collected on even years.
• D) Property tax revenues are only used for bond payments.
• E) Business income is not taxed.

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Definitions:

Watchdog Responsibility

The obligation of overseeing and holding accountable entities or individuals, particularly in financial or public interest contexts.

Common Stock

A type of security that represents ownership in a corporation, granting shareholders voting rights and a share in the company's profits via dividends.

Real Asset

Physical or tangible assets that have value, such as real estate, commodities, and natural resources.

Finance

The study and management of money, investments, and other financial instruments. It involves the processes of creating, managing, and investing capital.