Types of taxes quick check

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Compare how Medicare taxes are paid by individuals who are employees to those who are self-employed.

Employees pay half (1.45%) of the Medicare tax while the employer pays the other half. Self-employed individuals pay for both halves of the tax (2.9%).

Identify all the groups that pay property tax.

Landowners, homeowners, and businesses

Which type of tax describes excise taxes, sales taxes, and tolls?

Regressive tax

What are the differences between a sales tax and a use tax?

Sales tax is on the purchase of goods and services at the point of sale while a use tax is paid on goods and services purchased one sales tax was not paid.

How are businesses taxed with the corporate income tax?

businesses pay a proportional or progressive tax based on their profits.


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