Financial Literacy Quiz - Taxes

The value of Mrs. Smith's land is $95,000. The yearly tax on her land is $824. What tax is this?

• Income Tax

• Sales Tax

• Property Tax

• Payroll Tax

Every year Americans who earn a wage, has to pay taxes once a year on the total amount he/she earns in a year. What is this tax that is paid to the U. S. government?

• Income Tax

• Sales Tax

• Payroll Tax

• Property Tax

$32.76 is withheld from George's weekly earnings, what is this tax called?

• Income Tax

• Sales Tax

• Property Tax

• Payroll Tax

The video game sells for $14.95 plus $$0.49 in tax. What is this tax called?

• Income Tax

• Sales Tax

• Property Tax

• Payroll Tax

The value of a house is $185,000. The yearly tax on the house is $5,700. What is this tax called?

• Income Tax

• Sales Tax

• Property Tax

• Payroll Tax

Bob pays a yearly tax of $300 on his boat. What is this tax called?

• Income Tax

• Sales Tax

• Property Tax

• Payroll Tax

Jesse earns $548. His pay after taxes is $489. What tax is this?

• Income Tax

• Sales Tax

• Property Tax

• Payroll Tax

The price of a sweater is $72. The total cost of the sweater is $76.14. What tax is this?

• Income Tax

• Sales Tax

• Property Tax

• Payroll Tax

Is Sales Tax and Payroll Tax the same thing? True or False

• True

• False

Is Property Tax included on clothes? True or False

• True

• False