Types of taxes quick check
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.