1. Does
your state have an individual income tax? If so, how closely does it conform to
the federal tax? Can one deduct the federal tax in computing the state income
tax? List some specific ways that the federal and state tax bases differ. What
problems, if any, do these differences create in computing your taxes? What additional issues have been created in
as a result of Federal Tax reform in 2017. (10 points)2. What
is the rate structure of your state income tax? Are the rates progressive, and
if so, how does that progressivity compare to the federal income tax rate
structure? (5 points) 3. The
two most important state taxes are income and general sales taxes, although
states also make substantial use of excise taxes, direct business taxes
(usually a corporate income tax), and others. List and discuss briefly four factors that might
influence a state in choosing between an income and general sales tax. What is
the relative reliance in your state on these two taxes? If the relative
reliance in your state is different than average, speculate about why that
might be so. (10 points)
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Homework #4 (25 points)
Due Date March 28, 2019
1. Does your state have an individual income tax? If so, how closely does it conform to the
federal tax? Can one deduct the federal tax in computing the state income tax? List some specific
ways that the federal and state tax bases differ. What problems, if any, do these differences
create in computing your taxes? What additional issues have been created in as a result of
Federal Tax reform in 2017. (10 points)
2. What is the rate structure of your state income tax? Are the rates progressive, and if so, how
does that progressivity compare to the federal income tax rate structure? (5 points)
1,
3. The two most important state taxes are income and general sales taxes, although states also
make substantial use of excise taxes, direct business taxes (usually a corporate income tax), and
others. List and discuss briefly four factors that might influence a state in choosing between an
income and general sales tax. What is the relative reliance in your state on these two taxes? If the
relative reliance in your state is different than average, speculate about why that might be so. (10
points)

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