Taxes

If a home is valued at $250,000 and the property tax rate is 2 percent, how much will the owners pay in property taxes?

5000

If a new shirt costs $34.99 and the sales tax is $2.10, the sales tax rate is

6 percent

Which best describes the purpose of this document?

It shows how much a person earned, and how much was withheld in taxes.

What does the diagram show about tax revenue?

The most revenue comes from individual and payroll taxes.

The 1040 form is used to collect

federal tax

What types of information does a W-2 form contain? Check all that apply.

how much has been earned how much has been withheld for taxes

Social security and medicare are

payroll taxes

In addition to federal income tax, many people also pay

state income tax

The chart shows that federal and state taxes are

witheld from employee pay

If Massachusetts has a sales tax of 6 percent and New Hampshire has no sales tax, how much money can be saved by buying a $1,000 television in New Hampshire?

$60