Identify three states considered to be in the same economic region as your own. a. For each
Question:
Identify three states considered to be in the same economic region as your own.
a. For each of the three states and your own state, answer the following ques- tions, creating a table with your answers. Answers to most can be found at the website www.taxadmin.org. i. What is the overall tax burden per capita, and where does it rank among all states? ii. What is the overall tax burden as a percentage of personal income, and where does it rank among all states? iii. From what source(s) does it raise most of its revenues (e.g., sales/use tax, highway tolls)? iv. What is the highest marginal tax rate on corporate income? v. What is its apportionment formula, including factors and weights?
b. What advice or insight might you provide to your state legislature regarding your state's tax system, based on your findings for part (a)?
Step by Step Answer:
Essentials Of Taxation Individuals And Business Entities 2019
ISBN: 9780357233290
1st Edition
Authors: William A Raabe, James C Young