About This Chapter
MTTC: Taxation & Liability - Chapter Summary
Study this chapter's video lessons on taxation and liability before you sit for the MTTC Business, Management, Marketing and Technology examination. Doing so could improve your ability to decipher the progressive tax code as well as understand the different kinds of payroll taxes. The lessons allow you to re-examine the advantages and disadvantages of forming corporate structures and building business partnerships. Watch this chapter's lessons in order to:
- Differentiate between three main tax codes
- Explain payroll taxes, and discuss how the amounts are determined
- Explore corporate tax structures
- Define double taxation and limited liability in corporations
- Learn about personal liability as it pertains to business partnerships
- Discuss the calculation of property taxes
As you watch the interactive lessons, you could recognize the areas you need to review before you take the MTTC Business, Management, Marketing and Technology examination. Use the video tags to pause the lessons or to re-watch specific parts. You can also submit your taxation and liability questions to the instructors, who are experts on the subjects. Study in your spare time and learn anywhere with Internet access. Take the opportunity to learn visually or refer to the written transcripts. When you've completed the video lessons, take the self-assessment quizzes that follow.
MTTC: Taxation & Liability Chapter Objectives
The business sub-area of the MTTC Business, Management, Marketing and Technology examination is where you could encounter questions on taxation and liability as well as the other subjects discussed in this chapter's lessons. This sub-area of the examination includes 25% of the overall examination's 100 multiple-choice questions. The exam is offered in both computer-based and paper-based formats..
1. Understanding the Progressive Tax Code
In this lesson, learn what a progressive tax code is, how to recognize it, and what the alternatives are. Then, learn the differences between the three tax codes: progressive, regressive and proportional. Finally, learn how sales tax would impact progressivity.
2. What is Payroll Tax? - Definition & Example
This lesson will define the payroll tax and explore the various types of payroll taxes. Also, an example that looks at payroll taxes from the viewpoint of the employee will be provided.
3. Tax Structure and Liability of Business Partnerships
Many businesses are partnerships. These are unincorporated businesses owned by two or more people. This lesson explains the tax structure of partnerships and the liability of general partners.
4. Tax Structure and Liability of Corporations
A corporation is a complex business structure with unique characteristics pertaining to taxation and liability. The advantages of a corporation are subject to certain rules. This lesson explains double taxation, limited liability and piercing the corporate veil.
5. Property Taxes: Calculations & Rates
Depending on where you live, the property taxes for houses are calculated differently. Watch this video lesson to see how the calculations are made based on some example rates.
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Other chapters within the MTTC Business, Management, Marketing & Technology (098): Practice & Study Guide course
- MTTC: Accounting
- MTTC: Account Types
- MTTC: Financial Statements
- MTTC: Financial Planning & Markets
- MTTC: Business Math
- MTTC: Business Communication Strategies
- MTTC: Types of Business Communication
- MTTC: Regulation in Business
- MTTC: Business Law
- MTTC: Business Ethics
- MTTC: Management & Leadership
- MTTC: Human Resource Management
- MTTC: Human Resource Processes
- MTTC: Labor Relations
- MTTC: Macroeconomics
- MTTC: Microeconomics
- MTTC: Personal Finance
- MTTC: Managing Debt & Risk
- MTTC: Marketing Strategy
- MTTC: Consumer Marketing
- MTTC: Marketing Channels & Distribution
- MTTC: Marketing Economics
- MTTC: Entrepreneurship
- MTTC: International Trade & Marketing
- MTTC: Information Technology in Business
- MTTC: Information Systems
- MTTC: Hardware & Software
- MTTC: Security & Privacy
- MTTC: Career Management
- MTTC Business, Management, Marketing & Technology Flashcards