Two years ago, State

Y

enacted a new income tax credit for college prep materials. The credit is available to individuals and is equal to

40%

of the cost of the items. The credit may not exceed

$50

in any year. State Y's director of finance has discovered this year that the amount of credit claimed is far higher than expected. Which principle of good tax policy might not have been considered in designing this tax that caused the original cost estimate to be too low?\ Equity.\ Simplicity.\ Economy in collection.\ 21\ Minimum tax gap.

Two years ago, State Y enacted a new income tax credit for college prep materials. The credit is available to individuals and is equal to 40% of the cost of the items. The credit may not exceed $50 in any year. State Y's director of finance has discovered this year that the amount of credit claimed is far higher than expected. Which principle of good tax policy might not have been considered in designing this tax that caused the original cost estimate to be too low? Equity. Simplicity. Economy in collection. Minimum tax gap