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Types of Taxes

Total questions: 15

Worksheet time: 12mins

Name
Class
Date
1.

Sales tax is based on.......?

a)

tax on material goods owned.

b)

tax levied on the retail pruce of goods and services

c)

tax on oil

d)

none of the above

2.

What tax is the main source of revenue for most local governments?

a)

Sales Tax

b)

Property tax

c)

Payroll tax

d)

Income Tax

3.

Which tax is the money added to the cost of items or services?

a)

Payroll taxes

b)

Income taxes

c)

Sales taxes

d)

Property taxes

4.

Mr. Kendall had a new garage built. Which yearly tax will increase based on the value of the garage?

a)

Income tax

b)

Property tax

c)

Sales tax

d)

Payroll tax

5.

Drew bought a computer for $480. Which tax could he have paid on the purchase?

a)

Payroll tax

b)

Income tax

c)

Sales tax

d)

Property tax

6.

Jackson got a part-time job making hamburgers at a café. Last week he earned $100 in wages, but he received a paycheck for only $70. What is the reason the amount of his paycheck was less than the wages he earned?

a)

Jackson only worked part-time.

b)

The café lost money last week

c)

The owner of the café decided not to pay Jackson the total amount he earned.

d)

Taxes were taken out of Jackson's paycheck.

7.

Which type of tax best describes this definition?

- a tax paid on the money an employee receives.

a)

Payroll Tax

b)

Income Tax

c)

Property Tax

d)

Sales Tax

8.

The following are examples of which type of tax?

1. Tax paid on a family owned farm.

2. Tax paid of a piece of land someone owns.

3. Tax paid on a home someone owns.

a)

Payroll Tax

b)

Income Tax

c)

Property Tax

d)

Sales Tax

9.

Which type of tax best describes this definition?

- a tax includes Social Security and Medicare taxes and is paid by an employer

a)

Payroll Tax

b)

Income Tax

c)

Property Tax

d)

Sales Tax

10.

The TV you bought was $900 and the sales tax was 10%, what was the total cost of the TV.

a)

$900

b)

$990

c)

$810

d)

$1035

11.

The shirt that you bought was $20. The sales tax was 15%, what was the final price?

a)

$20

b)

$22

c)

$23

d)

$17

12.

The Ipad costs $850, and has a sales tax of 11%. What is the final cost?

a)

$850

b)

$875

c)

$943.50

d)

$950

13.

How would you round the following number so that it looks like money?

12.3487256

a)

$12.33

b)

$12.34

c)

$12.35

d)

$12.36

14.

What is the 5% sales tax on a $50 purchase?

(a)  

15.

Last year, Keisha paid $765 in taxes while working a part-time job and going to school. Now that she’s working full-time, she was shocked to find that her taxes jumped 612%! How much does Keisha pay in taxes now?

a)

$1377

b)

$4681.80

c)

$468.18

d)

$1233.18