Taxes

Which type of tax is described below?

Mr. Sheffield is installing an in-ground pool in his yard. He will have to pay $600 more in tax per year on his house because of the pool.

• payroll tax

• property tax

• sales tax

Which type of tax is described below?

Aubree makes baby blankets that she sells online and at craft fairs. This year, she pays $680 in tax on the profits from her baby blankets.

• income tax

• property tax

• sales tax

Which type of tax is described below?

Cassidi is going on a golfing trip. Before the trip, she buys new golf clubs that have a price of $225.00. She pays a total of $245.25 for the golf clubs.

• payroll tax

• property tax

• sales tax

Which type of tax is described below?

This year, Mrs. Harle made a profit of $49,500 publishing the newspaper in her hometown. She paid $6,700 in tax on her profit.

• property tax

• income tax

• sales tax

What does a progressive tax system entail?

• A higher income results in a higher percentage of income paid in taxes.

• A higher income results in a lower percentage of income paid in taxes.

• Lower-income individuals pay more taxes than higher-income individuals.

• Everyone pays the same percentage of their income in taxes.

A tax based on purchased goods and services.

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

A tax paid on buildings or land by the owner.

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

What taxes come out of a person's paycheck and pay for a retirement program for older people?

• Sales Tax

• Social Security Tax

• Property Tax

• Medicare Tax

Which is true?

• The less you make, the more you get taxed.

• The more you make, the higher percentage tax is taken out.

• The more you make the lower you get taxed.

• If you are cool, you don't get taxed at all.

Which of the following is an example of a progressive tax?

• Sales tax

• Flat tax rate on all income

• Income tax that increases with income levels

• Property tax based on property value