Author Question: Production taxes on oil and natural gas are known as a. income tax. b. franchise tax. c. ... (Read 32 times)

Lobcity · **on:** Jul 8, 2018

Production taxes on oil and natural gas are known as

a. income tax.
b. franchise tax.
c. property tax.
d. severance tax.
e. sales tax.

Question 2

Which of the following regarding the property tax is NOT true?

a. In the past, the property tax was highly regressive, but as more lower-income people own homes, the propertytax has become more progressive.
b. One traditional rationale for the use of the property tax is that it taxes people who benefit the most from localpublic services.
c. Overall, the property tax contributes less than 2 percent of total revenue collected by state governments.
d. Property taxes are consistently rated as the most unpopular tax by Americans.