1-1b Tax Bases

Question 0

Property or wealth

Answer 0

Ownership of specific kinds of property

Question 1

Transactions

Answer 1

Sales or purchases of goods and services and transfers of wealth

Question 2

Privileges and Rights

Answer 2

• the ability to do business as a corporation
• the right to work in a certain profession
• the ability to move goods between countries

Question 3

Income

Answer 3

Net of expenses