INSTRUCTOR RESOURCES TO TESTBANK for South-Western Federal Taxation 2022 Corporations, Partnerships, Estates and Trusts , William A. Raabe 45th Edition - TESTBANK

, TESTBANK for South-Western Federal Taxation
2022 Corporations, Partnerships, Estates and Trusts
45th Edition William A. Raabe
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,Name: Class: Date:

Ch 1 Introduction To Taxation
True / False

1. The Medicare component of the FICA tax (1.45% on wages) is progressive since the tax due increases as wages
increase.
a. True
b. False
ANSWER: False

2. The Federal estate and gift taxes are examples of progressive rate taxes.
a. True
b. False
ANSWER: True

3. The Federal excise tax on gasoline has a proportional effect on all taxpayers (that is, neither progressive or regressive).
a. True
b. False
ANSWER: False

4. Currently, the Federal corporate income tax is less progressive than the individual income tax.
a. True
b. False
ANSWER: True

5. Mona inherits her mother’s personal residence, which she converts to a furnished rental house. These changes should
affect the amount of ad valorem property taxes levied on the properties.
a. True
b. False
ANSWER: True

6. A fixture will be subject to the ad valorem tax on personalty rather than the ad valorem tax on realty.
a. True
b. False
ANSWER: False

7. Even if property tax rates are not changed, the amount of ad valorem taxes imposed on realty may not remain the same.
a. True
b. False
ANSWER: True

8. The ad valorem tax on personal use personalty is more often avoided by taxpayers than the ad valorem tax on business
use personalty.
a. True
b. False
ANSWER: True


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, Name: Class: Date:

Ch 1 Introduction To Taxation
9. An excise tax is often used to try to influence behavior.
a. True
b. False
ANSWER: True

10. There is a Federal excise tax on hotel occupancy.
a. True
b. False
ANSWER: False

11. The Federal gas-guzzler tax applies only to automobiles manufactured overseas and imported into the United States.
a. True
b. False
ANSWER: False

12. The amount of the state excise taxes on gasoline varies from state to state.
a. True
b. False
ANSWER: True

13. Not all of the states that impose a general sales tax also have a use tax.
a. True
b. False
ANSWER: False

14. Sales made over the internet are not exempt from the application of a general sales (or use) tax.
a. True
b. False
ANSWER: True

15. Two persons who live in the same state but in different counties may not be subject to the same general sales tax rate.
a. True
b. False
ANSWER: True

16. States impose either a state income tax or a general sales tax, but not both types of taxes.
a. True
b. False
ANSWER: False

17. A safe and easy way for a taxpayer to avoid local and state sales taxes is to make the purchase in a state that levies no
such taxes.
a. True
b. False
ANSWER: False
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