Taxes

If your aunt dies and leaves you her riches, what type of tax would you be charged?

• Excise Tax

• Estate Tax

• Sales Tax

• Income Tax

This comes out of your paycheck and is applied to Social Security and Medicare?

• FICA

• Income Tax

• Sales Tax

• Excise Tax

This tax is applied to things you own like a house, land, and car?

• FICA

• Estate Tax

• Property Tax

• Sales Tax

This type of tax is levied on the income of individuals?

• Income Tax

• Sales Tax

• Property Tax

• Excise Tax

A tax imposed on items that are deemed non-essential?

• Excise Tax

• Sales Tax

• Property Tax

• FICA

When you purchase items from a store or restaurant, what type of tax are you charged?

• FICA

• Sales Tax

• Income Tax

• Property Tax

What percentage of your paycheck is deducted for FICA?

• 5%

• 7.65%

• 6.57%

• 10%

All 50 states have a sales tax.

• True

• False

What is the revenue collected from taxes used for?

• Roads

• Public Schools

• Police

• All of the above

Taxes on gasoline, tobacco, alcohol, and tanning salons are examples of what type of tax?

• Excise Tax

• Estate Tax

• Sales Tax

• FICA