Chapter 1 and 2 Fundamentals of Income Taxation

Is an INHERENT power of the State to enforce proportional contribution upon persons, properties or rights to generate revenues which defray the expenses of the government.

Taxation is a __________ of the State to exact contributions on _____, _____, or _____ to raise money for public expenditures.

In taxation:
Person refers to ____, ____, ____, or ____.
Properties refers to assets owned by a person, either ____ or ____, _____ or ____.
Transactions refers to ____, derived from ____, _____, _____, and _____.