Which characterization of the Texas system of taxation is not accurate?
A) The business franchise (margins) tax in Texas is a significant burden on the business community and has raised far more money for the state than expected.
B) Texas has no personal income tax and no true corporate income tax.
C) Texas tax policy reflects its individualistic and traditionalistic political cultures.
D) Texas taxes place a heavier burden on low- and middle-income families than on businesses or the wealthy.
E) Texas overrelies on sales taxes.
Correct Answer:
Verified
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