Sales Tax Essays (Examples)

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National Sales Tax
PAGES 4 WORDS 1641

sales tax reform in America. Specifically it will discuss the idea of an alternate tax system, the National Sales Tax and compare it to the current tax code. A new way of collecting taxes seems much more fair and equitable than the current income tax method, which seems antiquated and unfair. Some large corporations and America's wealthiest people pay very little or no taxes through tax loopholes, which makes the system, rely on the people who can afford it the least. One expert notes, "Certain business entities such as partnerships, small business corporations and limited liability companies are treated for tax purposes as conduits and pay no federal tax at the entity level" (Boyd, 2005). There has been talk about developing a more equitable system that would be fair to everyone, not just a few. Developing a national sales tax system could help decrease the budget deficit, make the….

Federal Sales Tax
PAGES 4 WORDS 1206

Federal Sales Tax
The purpose of the proposed Fair Tax Act of 2003 is "to promote freedom, fairness and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the states." (oortz, 2003). Unfortunately, there are a lot of beliefs about the proposed legislation that simply aren't true. Fears range from inflation, lower economic growth, unpredictable revenue shortfalls and unfairness to the poor. This paper explains that these concerns are not only false, but that the exact opposite is true in most instances.

One of the common misperceptions of the Fair Tax Act is that it will fuel inflation and dramatically impact the demand for goods with high price elasticities. However, it's likely that the sales tax will have minimal impact on prices. This is because there are already embedded taxes on all products and services….

Internet Sales Tax
PAGES 5 WORDS 1352

Internet Tax
The issue of an Internet sales tax has been at the topic of much debate over the past few years. The issue is a complicated one and the budget crises' facing many states has made it a crucial one. The purpose of this discussion is to examine Internet tax legislation. We will begin by exploring the current status of Texas legislation regarding internet Taxation. We will also investigate the Federal Law regarding Internet taxation. Our research will also discuss the National Governors Association's model legislation to streamline and simplify state taxation. Additionally, we will explore the jurisdiction requirements that allow states to impose sales taxes and the case law that affects states' ability to tax Internet sales.

Texas Legislation

In 1999 Texas legislation proposed that the state would join the streamlined sales tax project. In recent years the legislation has adopted the practices of the streamlined sales tax project.

Texas has currently….

Sugary sodas contain corn syrup, but the American Agricultural Department subsidizes American farmers for growing corn, and this is one of the reasons that high-fructose corn syrup is so ubiquitous in the food supply. e are taxing corn syrup and subsidizing it at the same time, in other words. "The bigger issue, which the industry neither can nor particularly cares to rebut, is that the product [corn syrup] exists at all. e pump absurd quantities of cash into subsidizing corn (we also have a huge tariff on Brazilian sugar cane, incidentally). Over the past 10 years alone, Congress has appropriated more than $50 billion to encourage farmers to grow the stuff. But people don't want to eat $50 billion in subsidized corn. And if the cobs just sat around developing mold, Congress would cut off the spigot. Enter high fructose corn syrup, which sucks up the subsidies and created….

This is designed to help support individuals who are dealing with financial challenges. The problem is that select amounts of recipients will use as a way to live off of the government. (Wolf, 2005)
How might a socialist and a capitalist government differ in its treatment of the problem of unemployment?

Socialists want to see massive amounts of government spending to create new jobs, training programs and provide unemployment benefits. A capitalist is opposed to these kinds of programs and believes that charities / private enterprises can address these issues.

In your opinion, should the government have the responsibility of providing health care for every citizen? Why or why not?

Yes, the government should provide health care. The reason why is because prices are increasing exponentially and the number of uninsured is rising. These factors are a sign that there is very little competition inside the sector. To address these imbalances a government….


To minimize the impact on business and property owners, the tax should be one that they can apply at the consumer level. An excise tax raises the cost of goods, whereas a sales tax does the same thing but forces the consumer to pay. A property sales tax would already be applied at the consumer level.

As a citizen, I will not necessary see benefit from these taxes -- it depends on what the taxes are used for. ith regards to paying other taxes, I am only concerned with my total tax burden. Shifting taxes from one type to another, if it for me is tax neutral, is irrelevant. I would prefer that my taxes are reduced overall, and if these taxes facilitate that, then I would prefer them.

orks Cited:

IRS. (2008). Business taxes. Internal Revenue Service. Retrieved February 11, 2010 from http://www.irs.gov/businesses/small/article/0,,id=98966,00.html.

tax system of one country with that of another is an exercise fraught with dificulties and ultimately doomed to failure . tax system will never be much more than a reflection of strongly national cultures and forces. discuss this statement in the light of your knowledge of comparative tax system in developing and/or developed countries i
Tax Systems

The following pages focus on analyzing the factors of influence on different countries' taxation systems. The paper begins with an introductory section that allows readers understand the point-of-view used in this paper. The following section refers to describing the taxes pand taxation systems used by most countries and their objectives, in order to understand the similarities and differences between these taxation systems. The paper continues with the analysis of several factors that influence countries' tax system design, like cultural factors, technological developments, and natural resources. In order to exemplify this, the taxation systems….

Tax Equity and Fairness
Taxes on property are also known as ad valorem tax imposed on the real value of the estate or other assets that an individual owns. The local government imposes these property taxes and charges are on a recurring basis (Mikesell, 2014). For example, a homeowner either pays their taxes on a yearly basis or gives a monthly fee as part of the mortgage payments. It is worth noting that these taxes are subject to fluctuation basing on the jurisdiction assessment of the property's worth by looking at factors like its market value, condition, location and the changes to the apportioned amount to the various tax recipients. For instance, when residents of a given community vote to have the millage rate increased for their school system, this affects the tax rate on homeowners. Therefore, the tax levied is increased on their properties, and the reverse applies; when the….

Tax Liability
A preview of capital structure issues

In regards to the overall business environment, capital structure has profound implications of the business, irrespective of its industry. For one, a firm's capital structure is then the composition or 'structure' of its liabilities. For example, a firm that sells $40 billion in equity and $160 billion in debt is said to be 20% equity-financed and 80% debt-financed. The firm's ratio of debt to total financing, 80% in this example is referred to as the firm's leverage. This leverage has implications on the entire firm. For example, leverage in many respects is a double edges sword. On one hand, leverage can amplify gains for firms. However, if used incorrectly, leverage can also amplify loses. As such, firms must be cognizant of its capital structure as complacency can hinder overall business performance. Debt and equity financing, can have a profound implications on the business overall.….

The different types of fundraisers are numerous. Some groups choose to hold auctions or raffles in which they make profits off the sale goods that have been donated. Others choose from many different types of activities such as a walk-a-thon or bowl -a-thon. During these events money is raised by donations from supporters based on how many times, or for how long a specific activity is accomplished (What are the Different Types of Fundraisers, 2009). Tele-a-thons are also very popular ways for some nonprofit organizations to raise money.
Fundraising is not always an easy thing to do but it is a very vital function for all nonprofit organizations. It is so vital because this is the way that these organizations obtain the funds that they need to go about doing what their organization was originally set up to do. These campaigns are usually their only source of income. So in….

Tax Deductions for Default
PAGES 3 WORDS 1187

Tax Deductions: Are Unpaid Loans Tax Deductible?
John loaned his friend Jack $1,000. Jack did not repay the debt and left town. John wants to know if he can claim any tax deduction, and, if so, what is the character of the deduction? However, to answer John's question, one must first find out more information about the nature of the loan. This is critical because there are two broad types of loans and debts: business loans and personal loans. Furthermore, under the correct circumstances, it is possible for people to take tax deductions for certain types of business loans and personal loans. Knowing whether John made Jack a loan from his personal money or from his business money is the crucial first step in determining which, if any, Internal evenue Service (IS) regulations or tax laws will permit John to deduct the unpaid debt.

If John is a business owner and made….

Tax Returns for C Corporation and Partnerships
Tasty Treats and Beverages is a registered company in the United States. The company was incorporated in 2004, and operates under the C Corporation for the tax purpose. A C-corporation refers as a business entity subject to the federal income tax. A company operating under the C Corporation can enjoy host of tax credit that can assist it to enjoy a tax reduction that the company has to pay to the federal government. This paper uses the excerpt from the Tasty Treats & Beverages, Inc. annual income statement to prepare the tax return for the company.(See Appendix 1).

Tasty Treats & Beverages, Inc.

Income Statement ($)

For year ended December 31, 2013

Revenue from sales

1,500,000

Total Expenses

(885,050)

Income before taxes

284,450

Federal income tax expense

96,713

Net income after taxes

187,737

As being revealed in the company statement of income data, the income before tax was $284,450 and federal income tax expenses was $96,713. The paper….

Medicare, in addition to covering the elderly, is made available to lower-income individuals, and other direct assistance programs also go to these individuals. Combined with other goods and services such as road maintenance and other infrastructure, national security, etc., which are all consumed essentially evenly (again, in one perspective), this would mean that those at the lowest end of the economic spectrum consume the most and should pay the most -- a regressive tax that places the largest burden on those with the least ability to pay (417). In another perspective, however, those with high levels of income, wealth, and consumption benefit a much greater degree from the general services the government provides. The owner of a company benefits from the roads each time an employee drives into work, and from airwaves every time an Internet sale is made, and so on. Calculated thus, the benefit principle would lead….


orks Cited

Thorndike, Joseph J. "The IRS Is Hiding Its History." The ashington Times.

December 19, 1997, p. A23. February 18, 2008. http://www.taxhistory.org/thp/readings.nsf/cf7c9c870b600b9585256df80075b9dd/9de7fcd59915a3be85256e430079327d?OpenDocument

Question

After 9/11, the Federal Reserve Bank, then led by Alan Greenspan, used monetary policy reduced the interest rate, or the rate that consumers must pay to borrow money. This did encourage individuals to spend more. However, it is still debatable if this was the most vital component in extricating America from the throws of economic recession. Government spending, or fiscal as opposed to monetary policy, is often seen as a more direct and superior way to rapidly change economic conditions. Fiscal policy was required to stimulate America's recovery from the Great Depression, according to conventional wisdom, although some still argue that it was the Hoover administration's monetary policy that was ineffective, not that monetary policy was ineffective altogether.

But most economists believe that, to get the economy 'moving' again, spending by….

How to Limit Your Taxes
PAGES 7 WORDS 2248

Income Tax Deduction
Taxes have existed in the United States for all of its existence but they took on many forms prior to the modern income tax. The income tax was not finalized and permanently ensconced in the United States law until the 1910's. The tax rates, at its normal levels, have been adjusted upwards and downwards depending on the economic cycles with the most recently developments being the "Bush Tax Cuts" of the 2000's and the recent tax spikes under the Obama Administration. While income taxes affect some more than others, nearly all people are affected based on the assets/income they possess and earn as well as the familial structure they maintain.

Common Tax Deductions

As noted in the introduction, familial status and assets/income are far and away the biggest determinants on how much tax is paid, if any. Indeed, some people actually get money from the government and technically have a….

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4 Pages
Term Paper

Economics

National Sales Tax

Words: 1641
Length: 4 Pages
Type: Term Paper

sales tax reform in America. Specifically it will discuss the idea of an alternate tax system, the National Sales Tax and compare it to the current tax code.…

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4 Pages
Term Paper

Economics

Federal Sales Tax

Words: 1206
Length: 4 Pages
Type: Term Paper

Federal Sales Tax The purpose of the proposed Fair Tax Act of 2003 is "to promote freedom, fairness and economic opportunity by repealing the income tax and other taxes, abolishing…

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5 Pages
Term Paper

Business

Internet Sales Tax

Words: 1352
Length: 5 Pages
Type: Term Paper

Internet Tax The issue of an Internet sales tax has been at the topic of much debate over the past few years. The issue is a complicated one and the…

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3 Pages
Research Proposal

Healthcare

Tax Federal 'Sin Taxes ' to

Words: 1079
Length: 3 Pages
Type: Research Proposal

Sugary sodas contain corn syrup, but the American Agricultural Department subsidizes American farmers for growing corn, and this is one of the reasons that high-fructose corn syrup is…

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7 Pages
Research Paper

Government

Taxes Direct Democracy and Federalism

Words: 1986
Length: 7 Pages
Type: Research Paper

This is designed to help support individuals who are dealing with financial challenges. The problem is that select amounts of recipients will use as a way to live…

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1 Pages
Thesis

Economics

Taxes That Could Be Levied

Words: 317
Length: 1 Pages
Type: Thesis

To minimize the impact on business and property owners, the tax should be one that they can apply at the consumer level. An excise tax raises the cost of…

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15 Pages
Research Paper

Economics

Tax System of One Country With That

Words: 4394
Length: 15 Pages
Type: Research Paper

tax system of one country with that of another is an exercise fraught with dificulties and ultimately doomed to failure . tax system will never be much more…

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2 Pages
Research Paper

Literature

The Unfairness of US Tax Regimes

Words: 659
Length: 2 Pages
Type: Research Paper

Tax Equity and Fairness Taxes on property are also known as ad valorem tax imposed on the real value of the estate or other assets that an individual owns. The…

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6 Pages
Essay

Business

Tax Liability a Preview of Capital Structure

Words: 2119
Length: 6 Pages
Type: Essay

Tax Liability A preview of capital structure issues In regards to the overall business environment, capital structure has profound implications of the business, irrespective of its industry. For one, a firm's…

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2 Pages
Thesis

Business - Management

Sales Plan for a Non-Profit

Words: 672
Length: 2 Pages
Type: Thesis

The different types of fundraisers are numerous. Some groups choose to hold auctions or raffles in which they make profits off the sale goods that have been donated.…

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3 Pages
Research Paper

Economics

Tax Deductions for Default

Words: 1187
Length: 3 Pages
Type: Research Paper

Tax Deductions: Are Unpaid Loans Tax Deductible? John loaned his friend Jack $1,000. Jack did not repay the debt and left town. John wants to know if he can claim…

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4 Pages
Essay

Literature

Tax Returns for Partnerships and C Corporation

Words: 595
Length: 4 Pages
Type: Essay

Tax Returns for C Corporation and Partnerships Tasty Treats and Beverages is a registered company in the United States. The company was incorporated in 2004, and operates under the C…

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1 Pages
Term Paper

Economics

Tax the Benefit Principle of

Words: 307
Length: 1 Pages
Type: Term Paper

Medicare, in addition to covering the elderly, is made available to lower-income individuals, and other direct assistance programs also go to these individuals. Combined with other goods and…

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7 Pages
Research Proposal

Economics

U S Tax Policy Although Smokers

Words: 2407
Length: 7 Pages
Type: Research Proposal

orks Cited Thorndike, Joseph J. "The IRS Is Hiding Its History." The ashington Times. December 19, 1997, p. A23. February 18, 2008. http://www.taxhistory.org/thp/readings.nsf/cf7c9c870b600b9585256df80075b9dd/9de7fcd59915a3be85256e430079327d?OpenDocument Question After 9/11, the Federal Reserve Bank, then led by…

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7 Pages
Research Paper

Economics

How to Limit Your Taxes

Words: 2248
Length: 7 Pages
Type: Research Paper

Income Tax Deduction Taxes have existed in the United States for all of its existence but they took on many forms prior to the modern income tax. The income tax…

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