Identify three states considered to be in the same economic region as your own. For each of
Question:
Identify three states considered to be in the same economic region as your own. For each of the three states, answer the following questions.
Answers to most can be found at www.taxadmin.org.
• What is the overall tax burden per capita, and where does it rank among all states?
• What is the overall tax burden as a percentage of personal income, and where does it rank among all states?
• From what source(s) does it raise most of its revenues (e.g., sales/use tax, highway tolls)?
• What is the highest marginal tax rate on corporate income?
• What is its apportionment formula, including factors and weights?
What advice or insight might you provide to your state legislature regarding your state’s tax system, based on your responses to the above?
Step by Step Answer:
South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts
ISBN: 1389
41st Edition
Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney