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Title: Tax Law and Accounting

Essay Details

Subject: Business
Author: Efrain G
Date: May 12, 2016
Level: University
Grade: A
Length: 4 / 1158
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

It ruled that the portion of the income tax that applied to income on property was a direct tax that, under the United States Constitution, could not be levied without apportioning the tax by population. In 1913, the states ratified the Sixteenth Amendment to the United States Constitution, which made possible modern income taxes (Taxation)...

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Objectives of the income tax statutes are to raise resources for the government, to reduce the inequalities of income in the economy, to promote the balanced development, and to give thrust to the strategic sectors of the economy for economic development (Pope, Anderson, and Kramer). If the economy is in recession, then the tax credit and tax cuts will increase the disposable income and thus increase the overall production of the economy...

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