NEW
Font size
WorksheetsTaxation
Total questions: 20
Worksheet time: 16mins
What are taxes?
the amount of money citizens and businesses charge the government so they can pay all their bills.
the amount of money citizens and businesses are required to pay so the government can function and provide services.
the amount of money citizens and businesses are required to pay so they are protected from criminal organizations.
the amount of money citizens and businesses pay the government because it makes them happy.
All of the following are government services EXCEPT
Food Inspectors
FBI
Public schools
Farms
Who is the biggest employer in the nation?
Amazon
The Federal Government
Ford Motor Company
Sales tax is the tax you pay
when you buy something.
when you sell something.
when you barter.
when you give something as a gift.
Sales tax on an item may include all of the following EXCEPT
city sales tax
county sales tax
state sales tax
household sales tax
Not everything is taxed at the same rate. In many states, ___________ are exempt from sales tax.
Clothing
Groceries
Toys
Shoes
An excise tax is often called a "hidden" tax because
sellers cut out the tax altogether.
buyers exercise their right to purchase the product.
buyers hide the products in their cart.
sellers usually include the amount of the tax in the price of the item.
Income tax is the tax you pay on money you receive from all of the following sources EXCEPT
your job
rent from tenants
gifts you receive from your friends and relatives
earnings on investments like stocks
Business and people pay income taxes. Both are
regressive taxes
progressive taxes
proportional taxes
personal taxes
This tax helps fund the basic retirement program run by the federal government.
Social Security Tax
Property Tax
Medicare Tax
Sales Tax
During your working years, social security tax takes a percentage of your earnings. Then when you retire or are disabled
your social security tax is used to pay medical costs.
you become eligible to receive monthly payments.
you lose your benefits.
you can leave your Social Security benefits to your loved ones when you die.
Medicare is a tax taken out of your paycheck and is
the federal government's retirement program.
the federal government's elder care institution.
the federal government's health care system for people age 65 and over.
a really poor substitute for private health insurance.
Money that the government collects from people and businesses is called a _____________.
Income
Tax
charge
estate
This kind of tax is added to a purchase you make at a store.
Sales Tax
Income Tax
Property Tax
Excise Tax
If sales tax is 10 percent, and a new pair of sneakers costs $70, how much do you actually have to pay?
$77
$71
$80
$100
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.
What tax comes out of paychecks and pays for medical care for people 65 and older?
Social Security
Property
Income
Medicare
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
Under a progressive income tax, who would pay the largest proportion of her income in taxes?
A schoolteacher
The owner of a small business
A millionaire
A student on financial aid
Travis county charges tax each year on the house that Jennifer owns. She pays around $6,500 in taxes each year on the house that she owns. What type of tax is this?
Estate Tax
Sales Tax
Income Tax
Property Tax
