Income Tax Basics Quiz

A fixed amount per taxpayer

The product of a tax rate times the taxable income (correct)

A percentage of total income

A flat rate for all types of income

Based on total assets

At progressive rates (correct)

At regressive rates

At a flat rate for all income levels

Progressive tax

Corporate tax (correct)

Flat tax

Income tax

<p>Credits of various sorts (B)</p> Signup and view all the answers

<p>$ ext{Total income less income producing expenses and other deductions}$ (C)</p> Signup and view all the answers