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WorksheetsTax vocab
Total questions: 15
Worksheet time: 8mins
Mandatory payments collected from individuals and corporations by a government entity to fund government activity
IRS
Infrastructure
Taxes
FICA
This is the tax system in which high income taxpayers pay a larger fraction of their income?
Progressive
Regressive
Porportional
State Farm
Which one of the following is not one of the three basic tax categories?
Income
Consumption
Wealth
Leisure
This is the federal agency who is responsible for collecting income taxes in the US
FBI
FDIC
IRS
MLB
What tax category does a sales tax fall under?
income tax
consumption tax
wealth tax
what tax category does a property tax fall under?
Income tax
Consumption tax
Wealth tax
What tax category does a Payroll tax fall under?
income tax
Consumption tax
Wealth tax
This government program provides retirement and disability benefits to employees
Medicare
Social Security
Pell Grants
Head Start
Payroll tax is paid by both the employer and employee.
True
False
The federal government is responsible for collecting sales tax.
True
False
Which level of government collects property tax?
Federal
State
Local
Universal
Social Security & Medicare are the two government programs that make up:
FDIC
FBI
FICA
FRODO
Any type of property owned by an individual or company that is regarded as having value is called an:
Asset
Infrastructure
Tax bracket
Cost of living
The basic physical and organizational structures and facilities needed for the operation of a society is known as:
Asset
Infrastructure
Tax Bracket
Cost of living
In a progressive tax system, the multiple ranges that incomes are taxed at are known as:
Income statements
Tax brackets
Money markets
bank accounts
