
Tax Types and Their Uses
Flashcard
•
Mathematics
•
5th Grade
•
Hard
Courtney McGowen
Used 1+ times
FREE Resource
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4 questions
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1.
FLASHCARD QUESTION
Front
Money paid to the federal government based on how much money you earn. Used for funding roads, bridges, military, Border Patrol, National Parks. Paid on April 15.
Back
Income Tax
2.
FLASHCARD QUESTION
Front
Money paid by consumers on purchased goods and services. Used for transportation, roads, bridges, public education, and healthcare.
Back
Sales Tax
3.
FLASHCARD QUESTION
Front
A yearly amount paid by property owners on land, homes, and real estate. Used for local education, police, fire department, schools, roads, water and sewer, libraries.
Back
Property Tax
4.
FLASHCARD QUESTION
Front
Money taken out of your paycheck. Used for social security, Medicare, income tax, unemployment insurance.
Back
Payroll Tax
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