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Principles of Taxation for Business and Investment Planning, 5/e
Sally M Jones, University of Virginia
Exploring the Tax Environment
Types of Taxes and the Jurisdictions That Use Them

Chapter 1 Objectives

After studying this chapter, you should be able to:

1.  Define the terms tax, taxpayer, incidence, and jurisdiction.

2.  Express the relationship between tax base, tax rate, and tax revenue as a formula.

3.  Identify and describe the types of taxes levied by local governments, state governments, and the federal government.

4.  Explain why different taxing jurisdictions often compete for revenues from the same taxpayer.

5.  Identify the reasons why governments continually modify their tax systems.

6.  Describe the three primary sources of federal tax law.





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