2.1-2.2 QUIZ - Federal Income Tax & State Income Tax

Your taxable wages depend on __________ or withholding allowances, which allow for supporting yourself, your spouse, and others in your family who are your dependents.

• deductions

• expenses

• exemptions

• claims

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Gross pay: $23,760 Married, with 4 dependents, State income tax rate 6%. Calculate the State Income Tax.

Exemptions: Married $4,000, Each dependent $2,000.

• $201.33

• $705.60

• $945.60

• $105.60

Tags

CCSS.7.RP.A.3

Gross pay: $43,300, Single with 1 dependent, State income tax rate : 2.5%. Calculate the State Income Tax.

Exemptions: Single $2,000 Each Dependent $2,000.

• $982.50

• $1050.00

• $932.50

• $1082.5

Tags

CCSS.7.RP.A.3

Round $66.789 to the nearest hundredth.

• $66.78

• $66.79

• $66.780

• $67.00

Tags

CCSS.5.NBT.A.4

What is the federal tax owed on a taxable income of $59,475?

• $8943

• $5444

• $9218

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

Your take home pay is also known as what? Think, not LA LA land!

• Gross Pay
• Net Pay
• Tax Exemptions
• Taxable Earnings

Tags

CCSS.7.RP.A.3

Your gross pay is $135 . The local income tax rate is 1.5% How much will be held from local tax?

• $2.03

• $202.50

Tags

CCSS.6.RP.A.3C

Net pay is...

• Your take home pay after taxes
• Your total income before taxes.

Tags

CCSS.6.RP.A.3D

What is the fixed rate of pay for week, month, or year called? Think back to last unit!

• wages

• commission

• tips

• salary

Tags

CCSS.7.RP.A.3

What government department collects federal income taxes?

• Federal Government

• IRS

• Social Security Division

• Congress