Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
Tax |
A payment to support the cost of government. |
|
Taxpayer |
Is any person or organization required by law to pay a tax to a governmental authority. |
|
Incidence |
Of a tax refers to the ultimate economic burden represented by the tax. |
|
Jurisdiction
|
the right of a government to levy tax on a specific person or organization. |
|
flat rate
|
a single percentage that applies to the entire tax base.
|
|
tax base
|
is an item, occurrence, transaction, or activity with respect to which a tax is levied.
|
|
graduated rate
|
structure consisting of multiple percentages that apply to specified portions or brackets of the tax base.
|
|
revenue
|
refers to the total tax collected by the government and available for public use.
|
|
|
|