Multiple Choice
Which of the following statements is incorrect?
A) Property taxes are levied on real estate.
B) Excise taxes are assessed on items such as gasoline and telephone use.
C) Gift taxes are levied on the recipient of a gift.
D) The estate tax is based on the fair market value of property at death or the alternate valuation date.
Correct Answer:
Verified
Correct Answer:
Verified
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