AND INVESTMENT PLANNING 2024 27TH
EDITION SALLY JONES SHELLEY RHOADES-
CATANACH SOLUTION MANUAL
PRACTICE SCRIPT UPDATED 2026 TESTED
SOLUTIONS
⫸ Transaction Taxes. Answer: Levied on economic transactions
Set on percentages or physical quantities
Support state and local services
⫸ state income taxes. Answer: Come from earned and unearned income
Levied on individuals and corporations
Support state expenses, education programs, and welfare
⫸ property taxes. Answer: Taxes on property, especially real estate, but
also can be on boats, automobiles (often paid along with license fees),
recreational vehicles, and business inventories.
⫸ Conflicting goals of taxation. Answer: -Fairness
-Productivity
-Economic prosperity
-Promoting well educated citizens and strong families