Written Assignment- Tax Policies
In this world nothing can be said to be certain, except death and taxes. --Benjamin Franklin, 1789.
While the existence of taxes may be certain, the kinds of taxes that citizens of states will pay are not. Ever-changing economic conditions and citizen demands place continuous pressure on state leaders to develop effective tax systems, but not all states are up to the task. For this written assignment, you will compare the tax systems of two states and assess their overall effectiveness.
To complete this paper assignment, you must do the following:
1. Select two states. (Georgia is not a valid choice)
2. Identify the main components of the tax system for these two states.
a. What kinds of major taxes (property, sales, corporate income, personal income) exist in the state?
b. What kinds of miscellaneous taxes and/or user fees exist in the state?
3. Discuss perceptions of the tax system within each state. Locate and draw upon at least two suitable sources for each state to consider the following issues:
a. Is the tax system considered to be reasonable or burdensome?
b. Is the tax system considered equitable or unfair?
c. Have major changes to the tax system been proposed or considered recently?
d. Is the tax system considered effective for meeting the state's revenue needs?
e. What forces or factors seem to inhibit the development of more effective tax policies?
4. Drawing on concepts from Chapter 13, provide your own assessment of the tax systems in these states. Which of these states seems to have a ‘better' tax system, and why?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.