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Copy of Taxation Activity 2024
Copy of Taxation Activity 2024
Directions: Answer each question to see how you might have to pay each of the three types of taxes some day.
For each section, use your notes to answer questions a and b.
Income tax
Click on the following link https://www.ziprecruiter.com/Salaries Then choose one job to type into the box titled
“job title.” Then click “find salary”
Answer: 105,000
Click on this link. Insert the average salary from the previous answer into the income section, then click
calculate. Scroll down until you find a chart similar to the example below, and use the chart you created to
answer the following questions:
Answer: $15,360
Answer:$5,267
7. What is the total income tax?
Answer: $20,627.
Sales tax
Answer: A tax consumers pay on many items they purchase. It is a percentage of the sale price
11. Google search what is the price of that good that you want to purchase?
‘Answer: $52.50
12. In Stafford County, the combined sales tax rate is 5.3%. 1% is for the county and 4.3% is for the state.
Use the formula below to calculate how much sales tax you would have to pay on that good.
.053 x (price of good you want to purchase) = sales tax for that good
Answer: $2.78
Answer: A tax levied on land and buildings. Property tax may also be levied on personal property
You have been very successful in your career and decide to buy the house below in Stafford County. It is
valued at $1,350,000. But now you must pay property taxes on that home. In 2023, the tax rate for Stafford
County was set at $0.93 per 100 dollars of assessed value. Follow the steps below to find how much you’d
pay in property tax each year.
16. Step 2 Complete the formula: (Step 1 answer) x 0.93 = _ 1255.5______ yearly property tax
Continue to next page to complete the section on public goods and services:
17. Other than tax revenue, what are the other three ways the government pays for public goods and
services? (Notes pg. 5)
18. What is one characteristic of public goods and services? (Notes pg. 5, write the whole phrase not just
one word)
19. Go to page 4 of your notes. Look at the section titled “Part II: What does each level of tax pay for?”. If
you could only choose one public good/service from the federal list and one public good/service from
the state/local list to keep, which would you choose from each list and why? (Notes pg. 4)
Answer:
Federal: National defense, Homeland security, Medical expenditures, Social security and interest
payments on national debt. State and local: Education, Public Health and welfare, Road construction and
repair and public safety. I would choose national defense from the federal government because we need
people to protect our country. I would choose public health and welfare from the state and local government
because without public health no one would get cured from their sickness