Essays on Sales Tax

BUSINESS: UNETHICAL BUSINESS PRACTICES

L. Dennis Kozlowski, CEO of Tyco International Scandal A fish rots from the top down. This phrase sums up the scandal of Tyco International when its CEO, Dennis Kozlowski, was found guilty on many fraudulent accounts. His actions were in direct violation of the accounting ethics. Kozlowski was arrested along with many of his company officials as partners in crime. When the CEO of a company is involved in violating code of ethics and professionalism, the employees and subordinates find it convenient to follow suit. Former chief executive and chairman of Tyco International, Dennis Kozlowski and firm’s CFO ...

Abstract

The opposite relationship that exists between socioeconomic status (SES) and inappropriate behaviors such as the use of tobacco, physical inactivity and unhealthy nutrition have been well illustrated empirically but entails various underlying mechanisms. These mechanisms have certain theoretical significance because inconsistency in health behaviors unlike imbalance in many other constituents of health, usually involve something more than the capacity to spend income in order to purchase good health. In addition, these behaviors have an attribute that in most times makes them of special desire. They commonly involve more than not having the ability to buy goods and services that ...

The Streamline Sales and Use Tax Agreement (SSUTA) is an effort by the states in U.S to simplify and modernize state administration as well as the sales from the locals and use tax laws (Nicely). The SSUTA came about as a response to the decision of Supreme Court in the United States of making the collection of sales and use taxes from the unenforceable sellers of the states. Therefore, the Congress decided to simplify the nationality of the sales tax. Moreover, the agreement of the streamlined national sales and tax use have provided for some voluntary systems that can ...

1.0 International Trade and Legal Issues International trade can be described as a combination of activities conducted by either individual, corporate entities, or the government in pursuit to exchange goods and services with other countries internationally or across territories. However, for this trade to be conducted smoothly, states put in place regulatory rules and legal directives that help to control such engagements. These regulations are determined by the type of commodity to control and the nature of procedures followed in the entire business process. Importantly, these rules help the government to either prevent the entry of illegal and counterfeit ...

The Honourable Marc Garneau, P.C, M.P.

Dear Minister, Attention- As per a recent study of Airport Council of Canada, as reported by the Canadian Press (2013), 4.8 million Canadian fliers, in the past, preferred to board American flights instead of Canadian carriers, causing the monetary loss of $1.1 billion to the economy besides 9000 job losses to the country. This is despite the fact that the Canadian airports offer one of the best infrastructure and facilities in the world to the fliers. This calls for an urgent need to take the remedial measures to bring back the Canadian passengers ...

The Fairfax City is colloquially known as Fairfax is an independent city in Virginia, in the United States of America. According to the statistical report, the population of the city has been around 24,483 in the year 2014. The Fairfax City is an enclave in the Fairfax County. It is a separate political entity that includes the city of Fairfax and its surrounding areas. The Fairfax City is located in the Northern part of Virginia and is a part of the Arlington, Washington and Alexandria Metropolitan Area. The Fairfax City is located 16 miles away from the Washington, ...

Ladies and gentlemen, how are you? A majority of people know that online merchants pay taxes in some states while others are still debating the issue. The reasons for or against collecting taxes for the online retailers differs widely. I believe, it is fair for all businesses to pay taxes and; therefore, the online retailers have no option other than to pay taxes. In 2011, Lloyd Miler, a leading business columnist with the Wall Street Journal highlighted the views of various stakeholders on the same. The 1992 U.S. Supreme Court ruling stated that online retailers did not need to ...

Either action between paying and not paying tax on Internet sales has nearly equal justifications. For instance, Internet retailer Amazon.com, notes that imposing a tax on Internet sales should be opposed because first it would be administratively cumbersome and second the companies that would be required to pay these taxes obtains no meaningful benefit from the states. These companies operate online and, therefore, maintain no facilities within the states. However, payment of these taxes will be of great importance in the provision of local and state government revenue. This revenue is significant in the provision of social amenities such ...

Vitamins in Beer

Introduction This paper is devoted to the introduction of a special kind of beer with vitamins on the market of Australia. It would be the product that includes different vitamins to help make drinking a little healthier and easier on our bodies. Vitamin B12 would be one of them. At the same time, additional research is conducted on the saturation of beer with vitamins. Nowadays consumption of beer is around 40% of all alcohol that is sold in Australia. Its part in all alcohol still go down from the 1970s. In this case, beer with vitamins can become some ...

Value-Added Tax

Explain the concept of value-added tax (“VAT”) A value-added tax (“VAT”) or goods and services tax (“GST”) is an indirect form of taxation targeted at consumption – measured by spending on goods and services. “Value added” denotes that the payable tax equals the difference between the sale price a firm charges the buyer of a good or service, and the costs of materials and other taxable inputs. As an illustrative example, in the European Union, where much of the taxation is based on VAT principles, each time a consumer good is manufactured, the manufacturer must pay a value-added tax on ...

Questions

1. Do you believe the labels that they were not acting in their own self-interest?

I do not believe that the labels were not acting in their own self-interest. By setting a price floor for their CDs (minimum advertised pricing) they were effectively able to control the revenue they would get. This ‘minimum price’ was set high and this led to higher profit margins at the expense of the consumers.2. Is this a price-fixing scheme or a pure case of altruism?

This was a case of price-fixing. By getting retailers to sell their CDs at an agreed price, the music labels were ...

Sales Tax also referred to as Value Added tax, is applied on most services and goods (Gilbertson and Lehman). It is an indirect tax that the ultimate customer bears. The company selling the goods or services to the customer collects this tax on behalf of the authority from the customers. The company thus acts as an agent for purposes of collecting sales tax. The company also pays tax for all purchases of services and goods from other suppliers. However, the tax authorities allow the company to recover any such tax paid on its purchases. The company pays or claims ...

Budgeting is a crucial aspect of any institution or government’s operations with an aim of enhancing goals and objectives’ achievement in line with specific environment and needs. Thus, budgeting is greatly guided by policies that define the suitable actions in line with set goals and objectives either in response to changing environment or as a way of fostering opportunities’ utilization. In that respect, governments have budgeting planning that is specific to their constituents’ needs and that defines the objective of this analysis which seeks to demonstrate the budgeting process for a State in view of its status and environment. To achieve ...

Introduction

Switching the United States’ current income tax system would benefit the country as a whole. Therefore, variations of the flat tax that are proposed, some of which set a percentage on income while others set a percentage on sales tax. Those arguing in favour of such tax reforms contend that it will eliminate the complexity of our current system and the loopholes. This will contribute towards boosting of the economy. One such proposal, on which a number of books have been written, is called Fairtax. This is a flat rate sales tax only on new items. For example, if someone were to buy a used ...

Answer 1)

The role of each of the financial statement is explained hereunder: Income Statement: Also known as Profit and Loss Statement, income Statement, indicates the net profit or loss of the company during the year.

Balance Sheet:

Also known as the Statement of the Financial Position, Balance Sheet provides information about the financial position of an entity at a given date. Balance Sheet consist of following items: - Assets - Liabilities - Equity It works on the principle of Assets= Liabilities+ Equity

Cash Flow Statement:

Cash Flow Statement provides information about actual cash transactions in the entity held during the ...

Channel Management and Distribution

The channel management technique is through choosing the most effective channels or routes to market for Olive Garden. This will be a derived force to achieve the best outcomes from those channels. The application of the significant financial, training or marketing resources help in accomplishing best results from the channels (Bowersox & Cooper, 1992). The major factors influence the channel management decision on the marketing are the usage of specific channels for market share or sales volume, costs changing of delivering to market and achieving customer satisfaction (Bowersox & Cooper, 1992). The main consumers have been recognized as people who ...

Introduction

The management and operation of enterprises with multiple chain stores often presents unique challenges. The high number of customers, transactions and supplies that are experienced in these chain stores often requires a proper flow of information. This requires the development and implementation of an appropriate information system that meets the needs of the enterprise.

Internal actors in the business process

These refer to forces within the enterprise that facilitate the integration of all activities pertaining to the business. The enterprise offers several products, to different customers in different locations. The information system will work to ensure that the right products are availed to customers in different ...

Sources of Revenue

The police department accounts for 21% of the county’s budget. There are various ways the budget is funded to ensure the department continues to serve as required. Property tax is based on an assessment and is paid by everyone who owns land. The county executive officers prepare the budget showing how much the county is supposed to spend for all purposes. The executives estimate the amount of state and federal aid and other revenues that will be available and the balance is derived from property taxes. The New York state constitution sets a limit on the amount raised ...

An Economic Question

In regards to the economic question of whether or not it is wise for municipalities to tax consumption, one could argue that it is economically prudent to do so. Although states may be allowed to tax certain goods or services, such as meals and lodging, municipal taxes on top of the state taxes ensures that local municipalities also get a portion of the revenue derived from the overall taxation of the good or service. Although some economists may argue that consumption taxes, such as those imposed on meals and lodging are regressive and not progressive (the way that income ...

This Assignment made and entered into this __ day of _____ 2014 in the State of Florida, by and between: The City of Florida, herein referred to as “LESSEE”, acting on behalf of the ABC Design Group, and the Deparment of Transportation in the State of Florida, herein referred to as the “Department”, which is an agency of the State of Florida, herein referred to as the “State”.

WITNESSETH:

WHEREAS, the City of Florida has represented ABC design group since it is the proper party to enter the Agreement since the premises that will be used in building the bridge ...

Internet Sales Tax- Should There Be One or Not?

Internet Sales Tax- Should There Be One or Not? No one can argue the fact that the current age belongs to the internet with people across the globe using the worldwide web for multiple activities including shopping. Indeed, statistics show that the number of people shopping online nowadays is increasing steadily. Consumers seem to prefer buying things online for several reasons- they can buy sitting in the comfort of their homes, browse through several online shops with just a click of the mouse and compare prices at several stores without hopping, skipping and jumping from shop to shop. Another ...

Interviewee's Name and Job Title: Andy Lau

Interview's Company Name and Street Address: Mongolian Little Sheep Hotpot Restaurant. A-5901, Westheimer Road, Houston. Texas

Interviewee's Phone Number/Email: (713) 975-0687

Interview Date: May 30, 2014 Report Submission Date: Interviewee's Consent Statement: On May 30, 2014, the Interviewee, Mr. Andy Lau, the restaurant manager of Little sheep Hot pot restaurant in Houston, gave a verbal consent to the interview and posting of this report. I, therefore, have his full approval to use this report as I deem fit.

Introduction

After much consideration on the type of industry that I should expound on in regard to compliance and regulations, I eventually settled on the ...

English

I. Introduction The topic that I have chosen to study is about the future of publishing, specifically, concerning the sustainability of printed books. Because information and communication technology is constantly changing, the way Americans access traditional and electronic resources are evolving, too. According to the Consumer Electronics Association, electronic gadget ownership reaches new high where 44% of American online consumers own a tablet and 32% of them have an e-reader. A growing number of people prefer eBooks because of the many advantages that it offers as compared to the traditional printed books. Nevertheless, I will argue in this paper ...

Marijuana is branded as an illegal drug. Its use is prohibited in many nations of the world with the exception of The Netherlands. However, it is surprising that quite a lot of people still use it. Given the prevalence of use and the cost of the drug, it is debatable as to whether the drug should be legalized or not. With regard to this issue, Christopher Stifler and colleagues carried out a study titled Amendment 64 would produce $60 million in new revenue and savings for Colorado, to look at the potential benefits of legalization of marijuana in Colorado. By addressing ...

Thesis

This paper is on Taxation issue in Alberta’s cities struggling in coping with growing populations, increasing costs and limited revenue. This problem addressed is the deficit of province of Alberta and hoe use of Taxation can help in recovery of revenue which can be used to present break-even and future development of the Province. Sales Tax a issue long forbidden in province of Alberta, has risen at first Economic summit for solving financial issues of government, but Alison Redford the Premier of province is remaining calm on this idea at present (Wingrove & Walton, 2013). Contrasting from other provinces, ...

SWOT Analysis of an Online Business

The name of the company is Jordaz and it is located at Jersey Shore Broadwalk. It is a small clothing store, which is planning to go online and engage in e-commerce. The concept of going online can be supported by performing a SWOT analysis and identifying the strengths, opportunities, weaknesses and threats.

Strengths- An e- commerce website is a unique factor for company that differentiates it from competitors.

- It provides a wider range of products and customer support along with better terms and conditions. - The quicker way of shopping and cheaper products will further increase company’s strengths. - The operational costs are also lower as compared to physical business. - 24-7 shopping ...

Taxes should not be charged on online sales. The law requires customers to pay sales taxes for goods that they purchase in stores that have a physical presence. Charging online sales taxes will discourage customers from purchasing goods online. This will have a negative impact on online businesses due to a rapid decline on sales. Online businesses lack physical presence, which makes it unfair to charge sales taxes to customers. Some business people may tend to exploit clients with taxes as customers lack adequate knowledge on tax rates (Einav 25). The online shopping-cart software services used in handling online taxes may be ...

Introduction

Marijuana is branded as an illegal drug. Its usage is prohibited in many nations of the world with the exception of Netherlands. However, it is surprising that quiet a lot of people still use it. Given the prevalence of usage and the cost of the drug, it is debatable as to whether the drug should be legalized or not. With regard to this issue, Stifler and colleagues carried out a study aimed at looking at the potential benefits of legalization of marijuana in Colorado as recommended by amendment 64. By addressing their argument to the general public, Stifler and colleagues leave ...

The US systems of taxation.

The US Taxation System is believed to be one of the most developed and sophisticated tax systems in the whole world. Being a federal government country with a liberal economy, taxes in the USA are imposed by the federal, most state, and local governments; but they are completely separated from each other and each of those has its own authority to charge taxes and to determine the tax rate. Nevertheless, the process itself is being done on all of three levels simultaneously, which means people end up paying several taxes at once. Still, the leading role in this complicated process belongs ...

Introduction

The Cowboys stadium was constructed on the location where the Texas stadium previously stood and was completed on the 27th May 2009. The stadium has a seating of 85000 and this makes it the third largest stadium on seating capacity in the National Football League (NFL). The cost of the construction of the Cowboys stadium was initially projected to be $ 650 million but actual costs of constructing are documented at $ 1.15 billion, making it one of the most expensive sports construction ventures in the United States. The construction was financed both through public and private financing, and this paper seeks ...

Question 1a

This is the benefit which a supplier gets upon selling a commodity. It is calculated as the difference in the amount that a supplier can accept to sell his commodity and the amount which the commodity is actually sold in the in the market.

Question 1 b

The increase in cost of commodity to sellers is seen leads to increase in price of a commodity in the market. If it is not possible to increase the price of a commodity supply curve shifts to the left indicating a decrease in quantity supplied (Depken,26).

Question 1 c

Producer surplus increases as price of a commodity increases. Question 2a Company D ...

The state of Georgia has a money raising plan based on only one cent on the primary election ballot to be held on July 31, 2012. A regionally based transportation referendum is on the ballot. The region being impacted includes the City of Atlanta and Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Fulton, Gwinnett, Henry and Rockdale counties. It is a one penny tax sales tax specifically targeted to spend on the transportation system. It has ten-year duration. A yes-vote to the referendum would see the accumulation of about $8.5 billion to be used exclusively for transportation improvement projects. The construction work ...

This essay discusses the bans on smoking in public places that have been introduced in recent times in many countries of the world. Depending on the individual country, the ban may be either nationwide or determined by state or region within that country. The reason I believe such bans are so important is to reduce the numbers of deaths from cancer, which has long been known to be directly linked with smoking, including the effects of secondary inhalation of tobacco smoke, known as “passive smoking”. According to the CBC News website, quoting the World Health Organization (WHO), some 1.3 ...

The Government of Ontario has announced in 2009 that it would harmonize the provincial sales tax with the federal taxes into a single harmonized tax called the Harmonized Sales Tax (HST). This new kind of taxation seeks to eliminate the cascading kind of taxes also abolished by other economies, and replacing it with value added tax. This then implies that the harmonized taxes for Ontario will 13% with the provincial portion being 8% and the remainder (Balby, et al, 24). This new kind of tax system was effective as of 1st July 2010. The Harmonized Sales Tax was first ...

Ellen Carson has written a series of books for the children which narrates the Adventure of a 4years dinosaur called Ellasaurus. Although successful, Ellen is advised by her business advisor to create a merchandising business of the Ellasaurus dinosaur and character. She therefore creates Ellasaurus Products Enterprises (EPE) that deals with stuffed animals, toys, pajamas, coloring books as well as Halloween costumes. Despite having retailers for her products, there is the major issue of unwillingness by retailers in taking up unproven new products. In addition, Ellen wants to create a website for EPE which will mainly sell to customers directly and build customer ...

Ethical and Legal Issues: Module 4 Assignments.

Gianni Sports is a clothes manufacturer based in New York mainly specializing in women’s clothing. Gantos is a clothing retailer in Michigan. Gantos placed a purchase order to Gianni Sports for women’s holiday clothing to be delivered on 10 October, 1980. The clause contained in the order stated the cancellation of the purchase order can be done by the buyers for goods that have not yet been shipped by the seller for all or part of the goods and termination can also be done if the goods are delivered late. Gianni Sports specifically made the goods for Gantos which translated ...

Most business firms position their products strategically as a way of matching market competition and further change the perception of consumers on their products (Avlonitis & Papastathopoulou, 2006). Marketers position their products differently in a bid to make their products more attractive and preferred by consumers from other similar brands. Manufacturing companies such as breakfast cereal companies position brands differently in terms of cost, packaging, quality, availability, and aimed customers among others (Masterson & Pickton, 2010). Examples may include Kellogg’s, Weetabix and Nestle cereals. Breakfast cereals from these three companies are different in quality, since they all taste differently. Moreover, ...

Federal income tax refers to the structure of impositions of tax against the incomes of various individuals within the borders of the country (Klein 5). The government therefore exclusively taxes the individual income of all working persons within the borderline of the United States. The federal income tax is bound by the law in all aspects. This therefore implies that all individuals as provided in the guidelines supporting the whole system have an obligation of remitting part of their income to the government annually.

The federal tax income system works in a unique way. Salaries of individuals are taxed according ...

The state budget of Arizona combines both the one-year budget and the two-year budget. A fiscal year (FY) runs from 1st July to 30th June of the following year. In this work, I am going to consider the fiscal year 2008-2009 and the factors that influenced its budget. The factors can be said to be political, economical, social, and cultural. However, they can broadly be grouped as the economic and demographic factors, the fiscal structure, and the political decision making. In every fiscal year, both the two budgets (one-year budget and the two-year budget.) are adopted. However, in ...