Review the revenue information for North Carolina. Review the revenue of two neighboring states. Be prepared to discuss. References are to be less than 5 years old
"Major Tax Structures" Copy and Paste this Format when responding (do not post attachments):
1) From the "Quarterly Summary of State & Local Tax Revenue," illustrate with examples the burden of state, local, and state-local taxation in your state.
2) Compare the burden of your state with two neighboring states.
"General Taxes" Please respond to the following:
· Review the following scenario and then analyze the impact of tax holidays on the budget.
(a) Scenario: Several states have declared sales tax holidays for which the state does not collect sales tax on selected items for those day or days. In most instances, the holiday has applied to purchases of clothing and the period has been a week to 10 days in August. However, in recent years, some states have proposed or enacted holidays for hurricane survival supplies, gasoline, Energy Star appliances, and guns and ammunition.
(b) Impact Analysis: Analyze the impact of tax holidays of up to 10 days in your state. Create a table with two (columns. The first column should list Yield, Equity, Administration and Compliance, and Economic Impact. The second column should explain the impact of tax holidays in each area.