taxation

EBOOK Discussion Question 1-12 (LO. 2) A provision of the Code allows a taxpayer a deduction for Federal income tax purposes for some state and local income taxes paid (with an overall limit of $10,000) a. Does this provision eliminate the effect of multiple taxation of the same income? This Seduction provides partial reliet h. Assume that at payer, an individual, has itemized deductions that are less than the standard deduction. Will the taxpayer benefit from the deduction for state and local taxes paid? here the deduction or state and local tas paid allowed in addition to the standard deduction c. If the taxpayer temas deductions and is in the 10tax bracket, each dollar of deduction for state or local taxes reduces his or her federal income to by by of the taxpayer is in the 324 tax bracket, the saving is