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3 pages/β825 words
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Style:
APA
Subject:
Accounting, Finance, SPSS
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English (U.S.)
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Topic:
Analyzing Tax Worksheet
Essay Instructions:
Former Supreme Court Chief Justice John Marshall once stated, “The power to tax is the power to destroy.” The power to tax, the principle of taxation, and the effect taxes have on citizens has existed since the inception of America itself. However, much of it is misunderstood.
Use the sample property tax bill, pay stub, utility bill, and sales tax receipt provided below to complete the Analyzing Tax Worksheet Assignment.
Please let me know if any of these will not open. You will need them all to complete the assignment.
Essay Sample Content Preview:
GOV-260: Analyzing Taxes Worksheet
Student's Name
Institutional Affiliation
Course Number
Professor's Name
Date
GOV-260: Analyzing Taxes Worksheet
Part One: Taxes
Examine the specific taxes listed below. Identify what each tax is intended to fund and who determines the tax rate. The first row has been filled out as an example.
Tax
Funds
Governmental Body Responsible for Rate of Taxation
Example:
AZ Gasoline Tax
Highways
State of Arizona
Arizona State Sales Tax
The general fund includes public and government services
State of Arizona
Phoenix City Sales Tax
The particular revenue and private administrations
Phoenix City and state
Maricopa County Sales Tax
General operations of the county that include roads and jails
Maricopa county and state
School District Property Tax
It funds all public or government schools
School district federal, state, and local Arizona
School District Property Tax (Bonds/Overrides):
It funds colleges and local school districts.
The school district, federal, state, and local Arizona
County Property Tax
It funds the general county funds, special districts, the government, and education
The county and state of Arizona
Arizona State Income Tax
Urban revenue fund and general fund that includes debt interests, food, and agriculture, labor and unemployment
Arizona state
Part Two: Sales Tax
Examine the newest sales tax receipt for a purchase in Phoenix, Maricopa County, located in the assignment. Based on the information provided on the receipt, please answer the following questions.
1 Total sales tax paid:
From the receipt on 'My Place Market,' the total sales tax paid is 0.77
2 Amount of sales tax assessed by the State of Arizona:
0.77 is equivalent to 8.6%
State of Arizona tax percentage is 5.6%
5.6×0.778.6=0.50
3 Amount of sales tax assessed by the City of Phoenix:
The city of Phoenix has 2.3%
2.3×0.778.6=0.21
4 Amount of sales tax assessed by Maricopa County:
Maricopa County has 0.7%
0.7×0.778.6=0.06
Part Three: Payroll Statement Review
Review the attached payroll statement. Based on the statement, how mu...
Student's Name
Institutional Affiliation
Course Number
Professor's Name
Date
GOV-260: Analyzing Taxes Worksheet
Part One: Taxes
Examine the specific taxes listed below. Identify what each tax is intended to fund and who determines the tax rate. The first row has been filled out as an example.
Tax
Funds
Governmental Body Responsible for Rate of Taxation
Example:
AZ Gasoline Tax
Highways
State of Arizona
Arizona State Sales Tax
The general fund includes public and government services
State of Arizona
Phoenix City Sales Tax
The particular revenue and private administrations
Phoenix City and state
Maricopa County Sales Tax
General operations of the county that include roads and jails
Maricopa county and state
School District Property Tax
It funds all public or government schools
School district federal, state, and local Arizona
School District Property Tax (Bonds/Overrides):
It funds colleges and local school districts.
The school district, federal, state, and local Arizona
County Property Tax
It funds the general county funds, special districts, the government, and education
The county and state of Arizona
Arizona State Income Tax
Urban revenue fund and general fund that includes debt interests, food, and agriculture, labor and unemployment
Arizona state
Part Two: Sales Tax
Examine the newest sales tax receipt for a purchase in Phoenix, Maricopa County, located in the assignment. Based on the information provided on the receipt, please answer the following questions.
1 Total sales tax paid:
From the receipt on 'My Place Market,' the total sales tax paid is 0.77
2 Amount of sales tax assessed by the State of Arizona:
0.77 is equivalent to 8.6%
State of Arizona tax percentage is 5.6%
5.6×0.778.6=0.50
3 Amount of sales tax assessed by the City of Phoenix:
The city of Phoenix has 2.3%
2.3×0.778.6=0.21
4 Amount of sales tax assessed by Maricopa County:
Maricopa County has 0.7%
0.7×0.778.6=0.06
Part Three: Payroll Statement Review
Review the attached payroll statement. Based on the statement, how mu...
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