...sales tax rate in the state where the store was located. The store then forwarded the collected tax to the state tax collector. This system was working fine and was quite simple until the invention of the internet. The system has not changed for the traditional ‘brick and mortar’ store but things are much different for the ‘online’ store. This is where it gets interesting, how do we ensure that the sales taxes are paid or who is responsible for collecting the tax and what rate is paid and what state gets the taxes? For example, where should any sales tax is paid for candy ordered via the Internet from an Ohio vendor by a California resident while traveling in Georgia that is sent to a relative in Michigan (Nellen, 1999)? When the internet went commercial in 1995 it was free of regulation and taxes from the US government at all levels until 1996 when several US states saw the Internet as a great source of revenue for their states. Ten states (Hawaii, New Hampshire, New Mexico, North Dakota, Ohio, South Dakota, Tennessee, Texas, Washington & Wisconsin) started charging ISP’s an Internet access tax. This lead to the authoring of the 1998 Internet Tax Freedom Act by Representative Christopher Cox, R-CA and Senator Ron Wyden, D-OR and signed into law by President Bill Clinton on October 21, 1998(legacy.gseis.ucla.edu, 1998). This bill was drafted and passed to preserve the future potential of the internet. This bill was grandfathered in the ten states listed above and was...
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...Economic impact approaches Page #1 Approaches to Estimating the Economic Impacts of Tourism; Some Examples Daniel J. Stynes Updated January 1999 Introduction The purpose of this bulletin is to present examples of different approaches to estimating the economic impacts of tourism. In a previous bulletin (Stynes 1997), I summarize economic impact concepts and methods as they apply to tourism. Here we apply the methods to illustrative cases in order to demonstrate some practical approaches. Three specific examples are presented. These represent a range of alternatives for estimating the economic impacts of visitor spending. The techniques covered range from methods based largely on judgement, to methods that utilize secondary spending data and published multipliers, to the use of visitor surveys and input-output models. A third bulletin in this series discusses survey methods for measuring visitor spending and includes sample spending instruments. While the construction and operation of tourist facilities also has economic impacts, we will restrict our attention here to the impacts of visitor spending. Review of Basic Approach and Levels of Analysis The economic impact of visitor spending is typically estimated by some variation of the following simple equation: Economic Impact of Tourist Spending = Number of Tourists * Average Spending per Visitor * Multiplier This equation suggests three distinct steps and corresponding measurements or models: (1) Estimate the change...
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...Base price: $8,674 Options: $987 Destination charge: $190 Sticker price: $9,852 Profit margin: 15% Dealer cost: __________ Correct | | |2. |Base price: $15,555 | | |Options: 425 | | |Destination charges: $250 | | |Sticker price: $16,230 | | |Profit margin: __________ | | |Dealer profit: $1,275 | | |Incorrect | |3. |A car has a sticker price of $8,775 and the dealer's profit margin is 15%. What is the dealer's profit on| | |the car? Would the dealer be likely to accept an offer of $7,000? | | |Incorrect | |4. ...
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...Yaeleta Welch Tyco Case Study Business Ethics MBA 6301 DR. Gardner What do you think Kozlowski’s motivation for trying to avoid sales taxes on his art purchases was? Explain. Kozlowski was a dishonest person with unethical practices. He was committing crime and stealing from the company. When he was buying the art he wasn’t using his own money, but the company’s money which is the reason why I think he was avoiding sales tax. He was a corrupt individual with no morals and the company suffered because of it. Throughout his years at the company Tyco lost billions of dollars because of a President who was only about his own self gain. Paying taxes is our duty as a US citizen and Kozlowski went as far as moving to Bermuda to avoid paying taxes in 1997. He was big on making purchases for art work and had $15 million worth of art shipped to his New Hampshire address to avoid the 8.25 sales tax for the purchase (Stanwick & Stanwick 2009 pg. 390). In 2002 he was indicted for six paintings he purchased in 2001 because he tried to avoid $1 million in taxes (Stanwick & Stanwick 2009 pg. 390). He also bought other paintings with a value of $15 million in 2001 in New York and told the buyer he was taking to New Hampshire to avoid taxes. In 2002 he went as far as having the art dealer ship empty boxes to the New Hampshire address so it appeared he didn’t buy them for his New York address. Kozlowski was indicted for tax fraud evasion and for tampering with some of...
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...Assignment #3 – Chapter #3 Wharton Class Due: Tuesday, September 16th @ 8:45am FBTC Class Due: Wednesday, September 17th @ 10:15am M/C Questions 1 – 15, pp. 113-4 (30 pts. total – 2 pts. ea.) 1. c 2. a 3. d 4. b 5. c 6.a 7.a 8. b 9. c 10. a 11. b 12. c 13. a 14. d 15. b T/F Questions 1 – 12, p.115 (12 pts. total – 1 pt. ea.) 1. f 2. t 3. t 4. f 5. t 6. f 7. f 8. t 9. t 10.f 11. t 12. f Algorithm Workbench #1 - #7, pp.115-6 – Write pseudocode (not Java) (21 pts. total) 1. Module Main() Declare userNum as Integer Display "Enter a number" input userNum call TimesTen(userNum) Display userNum End Function TimesTen(integer userNum) userNum = (userNum * 10) return userNum End Function Algorithm Workbench #1 - #7, pp. 115-6 (continued) – Write pseudocode (not Java) 2. def main(): showvalue() def showvalue(): print '12' main() 3. The value stored in ‘a’ will be: 3 The value stored in ‘b’ will be: 2 The value stored in ‘c’ will be: 1 4. Declare Integer age Declare Real income Declare String name Call Module1 (agem Real_Income, Name) 5. 6. 7. Debugging Exercises, p.117 (3 pts. Ea. / 12 pts. Total ) 1. 2. 3. 4. Programming Exercises, (#1 - p.117) (10 points total) #1. Kilometer Converter Design a modular program that asks the user to enter a distance in kilometers, and the converts that distance to miles. The...
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...each employee has a supervisor. Form of business organization: We are a C-Corporation. Purpose of employee orientation: It provides employees the opportunity to get acclimated to their positions and their role in the firm. What is included in employee personnel files: Evaluations, raises, disciplinary actions and commendations. Business Knowledge How does the US Wholesale Marketplace work? Distributors buy products from a manufacturer, then they sell the product to retailers. How do US savings accounts work? Interest can be earned on any money that is stored. Different banks pay different rates, and interest is also compounded differently from bank to bank. What is FDIC insurance and how does it work? The FDIC is a United States government agency that preserves confidence in banks by insuring money deposited into those banks (up to a certain point). What are CD’s (Certificates of Deposit)? These are certificates issued by banks to people who deposit money. What are IRA’s? This stands for Individual Retirement Account. It is a good way to save money for retirement due to the large tax breaks that are offered. Explain each of the following types of businesses: Manufacturing: Manufacturers use raw materials to make goods, and then they sell them to distributors. Wholesale: Wholesalers buy bulk amounts of products from manufacturers and sell them to retailers. Retail: Retailers sell directly to consumers. Explain the format....
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...I killed the 48 women listed in the states second amended information. In most cases when I killed these women I did not know their names. Most of the time I killed them the first time I met them and I do not have a good memory of their faces. (Seattle - From statement of Green River killer Gary Ridgway, read in court in November 2003 by prosecutor Jeff Baird) Gary Leon Ridgway, known as the Green River Killer, dumping the first five bodies of his victims along the Green River in King County, Washington, pleaded guilty on the 5th November 2003, to the murders of 48 women from 1982 to 1998. He is considered one of the most profilic psycho-serial killer in U.S. history, having one of the longest cases ever to be solved, including other isolated murders. In 1982, many young people had gone missing and this tolled up, over the years. A number of femail victims found dead in isolated parts of King County, Washington. In most cases, skeletal remains were found as the bodies took long to be discovered. Moreoever, most bodies were found nude and with no possessions thus making identification difficult. The "Green River Task Force" was set up in consequence to investigate the killings and track the suspect. At first, due to the large amount of data recieved at the police station in a short period of time, the investigation was delayed and there was not enough resources for the data to be processed and thus some data was lost. A common trait was identified from all the victims...
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...Larry Johnican Professor Carter English 100 B07 January 24, 2014 The Little Indian In the essay “Superman and Me” Sherman Alexie discusses his life as young Indian boy growing up in Eastern Washington State. Sherman Alexie describes how his father created a love for books to him; when he says “My father loved books, and since I loved my with an aching devotion, I decided to love books as well.” Alexie explains why the comic Superman has turned him into the great writer he is. Alexie’s family was of the middle-class by reservation standards. His loved his father “with an aching devotion” and he played a very important role in his life. Alexie’s father was the reasons he started reading books. “My father loved books, and since I loved my father with an aching devotion, I decided to love books as well. Alexie thinks of a paragraph as “a fence that held words.” He compares his reservation as “a small paragraph within the United States.” He is comparing his reservation to words and comparing the United States to the “fence” or a paragraph. Some ways Alexie’s education is positive to him is that it paved a way for him to escape from poverty and to branch out and have other more opportunities in life. He gains a lot of motivation to escape poverty and to become educated. Some ways Alexie’s education was negative to him is that he constantly was bullied and feared by his classmates because Indians were not expected to be smart. He lost associates because of this fear from...
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...Alexie RR#1 Superman and Me written by Sherman Alexie. This is a short story explaining on how he grew up teaching himself how to read at three years old with his family on an Indian reservation in Washington State. It was hard for him and his family both of his parents working minimum wage jobs and receiving government assistance. He still managed to fight through all this and make it in life as an author. This is intended to reach to the other young Indians still living on Indian reservations to take advantage of their lives. Alexie father played a huge role in his life. Sherman admired his father with a passion. His father loved books reading them anytime he could. He had books stacks everywhere in the house living room, kitchen, and bathroom. Sherman got his admiration for reading books from his father. He loved his father with all his heart he wanted to be just like him as he stated in this quote “My father loved books, and since I loved my father with ab aching devotion, I decided to love books as well.” (89) Alexie read so much until he couldn’t read no more. Alexie uses the metaphor for the role of a paragraph saying that they are words they are held in a fence for a common purpose. He means that everyone is different in the world and has different qualities but everyone on earth is put on here together for a common purpose. Everyone in your family is different in their own way but are connected by blood. Every living person is different from one another each has...
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...National Federation of State High School Associations, Defendants. No. 13-30568 United States Court of Appeals for the Fifth Circuit May 6, 2014. Introduction Marucci Sports, LLC brought action against the National Collegiate Athletic Association (NCAA) and National Federation of State High School Association (NFHS) for allegedly segregating their company by not allowing Marucci to sell their non-wood baseball bats in the market. By doing so, this put new companies at a large disadvantage, and gives them little chance to succeed against larger companies such a Louisville Slugger, DeMarini, Easton and Rawlings. Complaint Marucci Sports, LLC is a bat manufacturer that tried to enter the large company competition. In order to legally sell sports equipment in the market, your product must pass the Bat-Ball Coefficient of Restitution Standard (BBCOR Standard) once a year. The first year that Marucci entered their product, which was an aluminum bat, to be tested was in 2010. When the bat was first submitted for testing, several bats passed the test. The following year when Marucci entered their product for yearly testing in 2012 there were four bats that did not pass the compliance test. The following year the bats were retested and again, were found not up to par, and were denied certification. On April the 18th Marucci filed a lawsuit against the National Collegiate Athletic Association (NCAA), the National Federation of State High School Association...
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...Portland U. vs. Washington U. tonight this game tips at 10pm est. The line is -19 to Washington U. Washington U. is trying to convince the country that it's an elite team. UW has an elite player in Isaiah Thomas but UW has lost to the only 2 elite top ten programs they have played. They had a 7 point loss to Kentucky and 5 point loss to Michigan State. Portland is hardly in the same league with these programs but UW is going to need to take care of business tonight. While beating Portland by no means will justify UW as one of the best programs, losing to them could most certainly drop them out of the top 25. Portland U. while in a lesser conference is a good solid team. Luke Sikma is their best player at 6-8 and 12 ppg. This team can play with any small conference opponent but they have shown when they play the big boys they fold. Kentucky got them by 31 points and Washington State beat them by 16 points. WSU is un ranked but they are a nice team. This game is at Washington so that makes it tougher for Portland to come away with the upset. Going over the numbers: UW 95.7ppg to 71.9pg allowed. PORT 69.8ppg to 65.3ppg allowed. Offensive rebounds are going to be what helps UW win this game and win it big. While UW has hit 100 the last 2 games I don't see UW putting a hundred on Port but I do think they will be close. My score prediction is 91-69. Washington...
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...a while for you to get there, but it’ll most likely be worth it. For now let’s start with the basics. No matter what career choice you decide to want to go for, you need to have the proper education even after high school in order to get there. As for me, I was currently stuck between three collages; University of Washington, Washington State University, and Central Washington University. After doing some deep research, I stuck to my current choice in my future education with the University of Washington (I’ll explain my reason why I choose this school later). I know in order for me to get accepted into the University, I need to start working on some acceptance essays for the collage and to obviously graduate high school. I feel like those two steps are the bigger ones to take as of right now. Let’s say I end up getting admitted into the University of Washington, now I need to figure out what courses I want to take in order to get where I want to be. As for me, I would like to work in the dental industry and become an orthodontist or dental assistant. Like I have stated before, I did some deep research on what types of courses the University of Washington has to offer and I have noticed that they have a whole other building that has hands-on dental training for anyone who is interested in that career. I would like to also take some algebra, chemistry, biology and health courses since I know those will be very useful. But since I’m still in high school, the closest thing...
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...and Rate of Tax Statutes Cases & Rulings Regulations CCH Explanations The following sales and the gross receipts therefrom shall be exempt from the tax imposed by this chapter:— 6(a) Sales which the commonwealth is prohibited from taxing under the constitution or laws of the United States. 6(b) Sales of tangible personal property in transit or stored at points of entry intended for export or import or which the vendor is obligated under the terms of any agreement to deliver (1) to a purchaser outside the commonwealth or to a designee outside the commonwealth of a purchaser outside the commonwealth or (2) to an interstate carrier for delivery to a purchaser outside the commonwealth or to a designee outside the commonwealth of a purchaser outside the commonwealth. 6(c) Casual and isolated sales by a vendor who is not regularly engaged in the business of making sales at retail; provided, however, that nothing contained in this paragraph shall be construed to exempt any such sale of a motor vehicle or trailer, as defined in section one of chapter ninety, or any such sale of a boat or airplane, from the tax imposed under chapter sixty-four I. 6(d) Sales to the United States, the commonwealth or any political subdivision thereof, or their respective agencies. 6(e) Sales to any corporation, foundation, organization or institution, which is exempt from taxation under the provisions of section five hundred and one (c)(3) of the Federal Internal Revenue Code, as amended...
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...dollar birthday party in Italy all at the company’s expense saying it was a management meeting with the board of directors (Tyco). Bribery was another major issue. Bribery was committed when Mr. Walsh, the director of Tyco International accepted 20 million dollars to arrange for the acquiring of CIT Group without the board of directors knowledge (Tyco). Also accounting fraud was a major issue. Kozlowski, Swartz, and Mark Belnick (Tyco’s legal counsel) falsified the business records to hide a great amount of money loaned out without approval. Kozlowski also committed tax evasion by not paying over 1 million dollars in New York State and local sales tax for the art work he purchased (Tyco). 1. What do you think Kozlowski’s motivation for trying to avoid sales taxes on his art purchases was? Explain. I feel that Kozlowki’s motivation for trying to avoid sales taxes on his art purchases was pure...
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...Presently VAT is followed in over 160 countries. The proposed Indian model of VAT will be different from VAT, as it exists in most parts of the world. In India, VAT has replaced the earier State sales tax system. One of the many reasons underlying the shift to VAT is to do away with the distortions in our earier tax structure that carve up the country into a large number of small markets rather than one big common market. In the earlier sales tax structure tax is not levied on all the stages of value addition or sales and distribution channel which means the margins of distributors/ dealers/ retailers at large not subject to sales tax earlier. Thus, the sales tax pricing structure needs to factor only the single-point levy component of sales tax and the margins of manufacturers and dealers/ retailers etc, are worked out accordingly. internal trade and impeded development of a common market. prices by an amount higher than what accrues to the exchequer by way of revenues from it. Also, there was the problem of multiplicity of rates. All the states, provided for plethora of rates. These range from one to 25 per cent. This multiplicity of rates increases the cost of compliance while not really benefiting revenue. Heterogeneity prevailed in the structure of tax as well. Apart from general sales tax, most states used to levy an additional...
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