Which tax is paid on the value of assets (e.g.,stocks)held by a person or family?
A) sales tax
B) capital gains tax
C) wealth tax
D) excise tax

Question

Quizplus · Accepted Answer

The tax paid on the value of assets held by a person or family is a wealth tax. This is a tax on the net worth or wealth of an individual or household, usually based on the total value of their assets minus any debts or liabilities. Capital gains tax is a tax on the profit made from selling investments, while sales tax is a tax on goods and services purchased. Excise tax is a tax on specific goods, such as alcohol or tobacco.

Which Tax Is Paid on the Value of Assets (E