Asked by Penny Huang on Jul 08, 2024
Verified
_____ tax is NOT used in the United States.
A) Property
B) Value-added
C) Profits
D) Sales
Value-Added Tax
A consumption tax placed on a product whenever value is added at a stage of production and at the point of retail sale.
United States
A country in North America consisting of 50 states, a federal district, five major self-governing territories, and various possessions.
- Pinpoint the main streams of financial income for federal and state levels.
Verified Answer
RC
Robert ChuhanJul 12, 2024
Final Answer :
B
Explanation :
The United States does not have a national value-added tax, although some states do have a version of a value-added tax called a "sales and use tax." Property, profits, and sales taxes are all used in the United States at various levels of government.
Learning Objectives
- Pinpoint the main streams of financial income for federal and state levels.