Supreme Court and Tax Law
This quiz will test your knowledge of the Supreme Court and Tax Law.
Questions
Which of the following is not a type of federal income tax?
- Individual income tax
- Corporate income tax
- Payroll tax
- Estate tax
What is the highest marginal income tax rate for individuals in the United States?
- 10%
- 22%
- 32%
- 37%
Which of the following is not a deductible expense for federal income tax purposes?
- Mortgage interest
- State and local income taxes
- Charitable contributions
- Gambling losses
What is the standard deduction for a single taxpayer in the United States?
- $12,550
- $18,800
- $25,100
- $31,400
Which of the following is not a type of federal estate tax?
- Estate tax
- Generation-skipping transfer tax
- Gift tax
- Income tax
What is the federal estate tax exemption amount?
- $11.7 million
- $12.06 million
- $12.92 million
- $13.41 million
Which of the following is not a type of federal gift tax?
- Annual exclusion
- Lifetime exemption
- Generation-skipping transfer tax
- Marital deduction
What is the annual exclusion amount for federal gift tax purposes?
- $15,000
- $30,000
- $45,000
- $60,000
Which of the following is not a type of federal excise tax?
- Alcohol tax
- Tobacco tax
- Gasoline tax
- Sales tax
What is the federal excise tax rate on gasoline?
- 18.4 cents per gallon
- 24.4 cents per gallon
- 30.4 cents per gallon
- 36.4 cents per gallon
Which of the following is not a type of federal customs duty?
- Ad valorem duty
- Specific duty
- Compound duty
- Sales tax
What is the most common type of federal customs duty?
- Ad valorem duty
- Specific duty
- Compound duty
- Sales tax
Which of the following is not a type of federal tax credit?
- Earned income tax credit
- Child tax credit
- Education tax credit
- Sales tax credit
What is the maximum amount of the earned income tax credit?
- $6,935
- $7,650
- $8,365
- $9,080
Which of the following is not a type of federal tax deduction?
- Standard deduction
- Personal exemption
- Itemized deductions
- Sales tax deduction