what effect would a tax increase have on income?\no it would reduce gross income.\no it would not affect net…
what effect would a tax increase have on income?\no it would reduce gross income.\no it would not affect net income.\no it would increase net income.\no it would not affect gross income.
Answer
Brief Explanations:
Gross income is pre - tax income. A tax increase does not change pre - tax earnings. Net income is gross income minus taxes, so a tax increase reduces net income.
Answer:
It would not affect gross income.