Federal, State, and Local Taxes Review

What Amendment gives Congress permission to collect the individual income tax?

• 19th

• 20th

• 16th

• 30th

Which is the largest source of Federal funding?

• Corporate Taxes

• Federal Income Tax

• State Sales Tax

• FICA Taxes

What two programs do FICA taxes pay for?

• Medicare and Medicaid

• The Army and Navy

• Social Security and Food Stamps

• Social Security and Medicare

A tax on manufacture or sale of selected items is called a ____ tax

• Income

• Sales

• Excise

• Corporate

Funds collected by one level of government that are distributed to another level are called what?

• Intergovernmental Revenues

• Human Resources Tax

• Excise Tax

• Estate Tax

Something that reduces the amount of income that you have to pay taxes

• Reduction

• Deduction

• Tax Bracket

• Obduction

What is the largest source of revenue for both state and local governments?

• Intergovernmental Revenues

• Sales Tax

• Income Tax

• Payroll Taxes

Property taxes are typically levied by which level of government?

• Federal

• State

• International

• Local

This tax was created to make sure the wealthy do not try and give their money away to avoid taxes.

• Income Tax

• Excise Tax

• Gift Tax

• Estate Tax

Nicknamed "The Death Tax" A tax on the transfer of property when someone dies.

• Excise Tax

• Income Tax

• Estate Tax

• Gift Tax