Which of the following is a type of wealth tax?
A)A tax on a person's salary
B)A tax on stocks owned by the taxpayer
C)A tax on purchases made at a department store
D)A tax on property given to a grandchild

Question

Quizplus · Accepted Answer

A wealth tax is levied on the market value of owned assets, such as stocks. Taxes on salaries are income taxes, taxes on purchases are sales taxes, and taxes on property given to a grandchild could be considered gift or inheritance taxes, not wealth taxes.

Which of the Following Is a Type of Wealth Tax