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Finra Series-7 Exam - Topic 1 Question 129 Discussion

Posted by Cassie on Jun 27, 2026 at 07:08 PM

Which of the following are not flat rate taxes?

Suggested Answer: C

gift tax. By definition, gift tax is a progressive tax. All of the others are a level percentage.


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26 comments · newest first
AV
Avery 9 hours ago
C) gift tax is also not flat rate, depends on the value.
SH
Shalon 6 days ago
Right, A) excise tax is flat rate, so it’s not the answer.
MY
Myrtie 11 days ago
Agreed! It’s based on income levels.
LA
Laurene 16 days ago
I think D) general income tax is not flat rate.
LE
Leana 21 days ago
Exactly! Keep it simple.
JE
Jerry 26 days ago
Just remember, flat rates don’t change with income.
AN
Antonio 1 month ago
I feel confused about this question.
MA
Margery 1 month ago
Right! Gift tax varies based on the amount.
VE
Venita 1 month ago
C) gift tax is also not flat rate.
LE
Leana 2 months ago
Definitely! A and B are flat rates.
JE
Jerry 2 months ago
Agreed! It's based on income levels.
AR
Aretha 2 months ago
I think D) general income tax is not flat rate.
ER
Erin 2 months ago
Wait, are we sure about the gasoline tax? Seems flat to me!
NO
Noelia 2 months ago
General income tax is progressive, not flat.
TA
Tashia 2 months ago
Gift tax varies based on the amount, so not flat!
AH
Ahmed 3 months ago
I thought gasoline tax was flat rate?
OD
Odette 3 months ago
Excise tax is definitely not flat rate.
LE
Leoma 3 months ago
Totally agree, gift tax is the odd one out here!
RA
Rashad 3 months ago
Wait, general income tax isn't flat rate? Really?
RO
Royce 3 months ago
Gift tax is progressive, not flat.
BE
Bernardo 3 months ago
I thought gasoline tax was flat rate?
BE
Ben 4 months ago
Excise tax is definitely not flat rate.
GL
Glory 4 months ago
I definitely recall that gasoline tax is often a fixed amount per gallon, so it seems like it could be a flat rate tax.
DY
Dyan 4 months ago
I'm not entirely sure, but I feel like the gift tax could be a flat rate tax, right? It might depend on the amount gifted.
PE
Pedro 4 months ago
I remember practicing a question about different types of taxes, and I think excise tax might not be flat rate since it can vary by product.
VI
Vicente 4 months ago
I think flat rate taxes are usually the same percentage for everyone, so maybe the general income tax isn't one?
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