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Questions and Answers
Which sector has the highest median effective tax rate?
The construction sector has a higher median effective tax rate than the retail trade sector.
True
What is the median tax due for the accommodation and food services sector?
$1038
The median effective tax rate for the education services sector is _________.
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Match the following sectors with their median effective tax rates:
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Which sector has the lowest median effective tax rate?
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The median effective tax rate for the health care and social assistance sector is higher than the median effective tax rate for the professional, scientific, and technical services sector.
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What is the median effective tax rate for the transportation and warehousing sector?
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The median tax due for the administrative and support and waste management and remediation services sector is $_________.
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How many sectors are shown in the graph?
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Which of these options are correct? (Select all that apply)
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This is an example statement that is true
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Example question?
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The ______ barked
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Match the following programming languages with their primary usage:
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What is the purpose of NAICS code in the tax system?
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Nonprofit organizations with taxable income from for-profit ancillary business activities were included in the analysis.
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What is the term used to describe a single-owner Limited Liability Company?
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The median effective tax rate is measured by sector, which is obtained from the first two digits of the North American Industry Classification System (______) code.
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Which of the following is NOT a type of taxpayer according to the tax system variable 'TAXPAYER'?
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Match the following taxpayer types with their descriptions:
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The categories of taxpayer types changed between the 2017-19 and 2021 datasets.
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Business profits passed to individual owners come from NPT form Lines _______________________, _______________________, _______________________, and _______________________.
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Study Notes
Tax Burdens Vary by Sectors' Gross and Net Income
- Figure 2 shows the tax burdens of different industries, ranked by median effective tax rate.
- The wholesale trade industry has a median effective tax rate of 6.0% and a median tax due of $2,148.
- The retail trade industry has a median effective tax rate of 5.2% and a median tax due of $1,073.
- The construction industry has a median effective tax rate of 4.7% and a median tax due of $1,544.
NPT Tax Analysis
- Business profits passed to individual owners are subject to Philadelphia's Net Profits Tax (NPT).
- Analysis of tax data from 2017-2019 and 2021 found little variation in effective tax rates across sectors.
- The most significant variation in NPT across sectors was in the dollar amount of tax bills.
NPT Effective Tax Rates and Tax Burdens on Businesses by Sector
- The finance and insurance industry has a median tax due of $1,052 and a median effective tax rate of 3.9%.
- The health care and social assistance industry has a median tax due of $782 and a median effective tax rate of 3.9%.
- The management of companies and enterprises industry has a median tax due of $748 and a median effective tax rate of 3.5%.
- The professional, scientific, and technical services industry has a median tax due of $628 and a median effective tax rate of 3.5%.
- Other industries, such as accommodation and food services, construction, and retail trade, have median tax dues ranging from $476 to $359 and median effective tax rates ranging from 3.9% to 3.4%.
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Description
This quiz compares the tax burden of different sectors, including wholesale trade, based on their gross and net income. It examines the median effective tax rate and median tax due.
