Jurisdiction M imposes an individual income tax based on the following schedule. Which type of rate structure does this tax use?

Question

Jurisdiction M imposes an individual income tax based on the following schedule.  Which type of rate structure does this tax use?

Quizplus · Accepted Answer

The tax schedule in the given information has multiple brackets with increasing tax rates for higher income levels. This is a characteristic of a progressive tax. Therefore, the type of rate structure used by Jurisdiction M is a progressive tax.

Jurisdiction M Imposes an Individual Income Tax Based on the Following