What do you mean by lump-sum tax ?
Answers
Answered by
0
Explanation:
Lump-Sum Tax
A tax in which the taxpayer is assessed the same amount regardless of circumstance. An example of a lump-sum tax is a $55 fee on all employees who work in a township. ... Lump-sum taxes are regressive, meaning persons with lower income pay more as a percentage of their income.
Answered by
0
Lump-Sum Tax
A tax in which the taxpayer is assessed the same amount regardless of circumstance. An example of a lump-sum tax is a $55 fee on all employees who work in a township. Another example is tag fees on vehicles, which are the same regardless of the income of vehicle owners. Lump-sum taxes are regressive, meaning persons with lower income pay more as a percentage of their income.
Similar questions