Understanding Taxes

A required payment to a local, state, or national government

• revenue

• tax

• corporate tax

• sales tax

Income received by a government from taxes and other non-tax sources.

• tax

• revenue

• sales tax

• property tax

Tax in which the percentage of income paid in taxes INCREASES as income increases

• sales tax

• revenue

• progressive tax

• incidence of a tax

Tax in which percentage of income paid in taxes remains the same at all income level.

• progressive tax

• proportional tax

• sales tax

• revenue

Tax for which percentage of income paid in taxes DECREASES as income increases.

• progressive tax

• proportional tax

• sales tax

• regressive tax

Tax levied on the sale of goods.

• progressive tax

• tax

• revenue

• sales tax

The income, property, goods, or service that is subject to a tax.

• sales tax

• tax

• revenue

• tax base

Our tax money is spent on all of the following EXCEPT:

• Social Security

• The Military

• Private School Education

• National Parks

Louis's dad pays a tax to the federal government each year based off the money he earns from his lawn mowing business. What type of tax does Louis's dad pay each year?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2

Jake wants to purchase a video game for $10. Jake hands the cashier a $10 bill plus two $1 bills for tax. What tax is Jake paying?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Tags

CCSS.6.RP.A.3B