Question

What are the correct definitions of sales taxes and property taxes? (PLS ASAP 15pts!)

1. Sales taxes are regressive taxes that are paid to the federal government by states where major industries are headquartered; property taxes are taxes that the federal government collects from local governments where new buildings and homes are constructed.


2. Sales taxes are incentive-based taxes that add 1 percent to the cost of basic goods and services and that are paid by the producers of those goods and services; property taxes are taxes that renters pay to the owners of the apartments and homes in which they live.


3. Sales taxes are flat taxes that add a percentage to the cost of nonessential goods and that are paid by consumers upon purchase of those goods; property taxes are taxes based on the value of land and property that are paid by property owners.


4. Sales taxes are progressive taxes that business owners pay to the federal government based on their yearly sales receipts; property taxes are taxes that local governments pay to state governments based on the square mileage of their village, town, or city.

Answer 1

C: Sales taxes are flat taxes that add a percentage to the cost of nonessential goods and that are paid by consumers upon purchase of those goods; property taxes are taxes based on the value of land and property that are paid by property owners.

Explanation: i took the test