Types of 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

Which of the following is an example of a person paying property taxes?

• Melissa bought a bicycle. She paid taxes for the bicycle she purchased.

• Javier owns a small cabin on several acres of land. He pays taxes each year for the cabin.

• Jennifer gets paid every other week. She pays taxes based on her earnings.

• An employer withholds money from Christina's monthly wages to pay for Social Security taxes.

Which two are examples of income tax?

• Brian won a cash prize on a popular game show. Brian pays taxes based on the money he earned.

• Lily bought a television for $149.67, including tax.

• Lawrence has two jobs. Each year, Lawrence pays taxes based on all the money he earns.

• Julian's employer withheld $37.58 for Medicare taxes.

A definition of a financial term is shown in the box. Which term best fits this definition?

• Payroll Tax

• Property Tax

• Sales Tax

• Income Tax

Match each table to the correct tax.

• Sales Tax

• Table B

• Income Tax

• Table A

• Property Tax

• Table C

• Payroll Tax

• Table D

Marcos went to the mall to purchase clothes for back to school. He purchased four t-shirts and two pairs of blue jeans. He paid taxes on the items he purchased. What type of taxes did Marcos pay?

• Payroll Tax

• Property Tax

• Sales Tax

• Income Tax

Match the example to the correct type of tax.

• Property Tax

• Eva purchased 20 acres of land in the country. She pays taxes each year for the 20 acres of land.

• Income Tax

• Angie went to a retail store to purchase a birthday gift for her sister. She paid taxes on the gift she purchased.

• Payroll Tax

• An employer withholds a portion of Stephanie's weekly wages to pay for Medicare.

• Sales Tax

• Luis earns about $65,000 each year from selling items online. He pays taxes on the money he makes from online sales.