The 'tax clienteles' is a phenomenon that reflects:
I.Investors with higher income levels face higher marginal tax rates
II.There are different tax treatments for dividends and capital gains
III.That firms would have tax benefits to pay higher dividends to investors

Question

Quizplus · Accepted Answer

Tax clienteles refer to the idea that investors are attracted to different investment opportunities based on their tax situations. This phenomenon reflects both that investors with higher income levels face higher marginal tax rates (I) and that there are different tax treatments for dividends and capital gains (II), influencing their investment choices.

The 'Tax Clienteles' Is a Phenomenon That Reflects