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 NY state on these two taxes? If the relative reliance in NY state is different than average, speculate about why that might be so.

From the economic purpose, it's usually desirable to custody an instantaneous tax as associated to the revenue enhancement within the sort of nuisance tax, excise duty etc. this is often as a result of once the government gathers a lot of income victimization direct taxes as associated to subsidiary taxes the, the patron will travel a better insignificance curve and can have larger fulfillment as associated to revenue enhancement case. Moreover, direct taxes are a lot of advanced as linked to indirect taxes that are reverting and are calculated at similar rate for all no matter financial gain.

Conversely, in selecting the virtual confidence among through and subsidiary taxes it's gotten that governments usually like subsidiary taxes as they're simple to observe as associated to direct taxes wherever because of actuality of sector, nonpayment is high. Indirect taxes can raise a lot of web income to the government because the price of assortment is low and assortment is appropriate. Also, nonpayment is troublesome just in case of indirect taxes. In the big apple additionally, the legal system is reverting with greatest of the income returning from Trades and Excise taxes though' it's less than the domestic average however comparative belief is a lot of as matched to direct taxes. this is often owing to sort of exceptions for merchandise and facilities that are a region of nuisance tax income. New York State additionally permits regime to levy further nuisance tax. So, nuisance tax base ought to be exaggerated.

d) social security number

let me know if i am correct or not, so i can edit the answer.

answera major piece of legislation affecting the financial industry and containing significant privacy provisions for individuals;