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2.02 PF

Basic of Taxes

TermDefinition
Community A group of people with common interests and concern for the common good.
Earned Income Money earned from working for pay.
Excise Tax Taxes collected from the seller or retailer and as such often remain "hidden" in the price of a product or service, rather than being listed separately.
Income Tax A tax on earned and unearned income.
Payroll Tax A tax on earned income.
Property Tax A tax on property, such as land, building (including homes), and automobiles.
Sales Tax A tax on purchased goods and services.
Taxes A sum of money demanded by a government to support the government itself as well as specific facilities or services.
Taxpayer A person who pays a tax to national, state, county or municipal governments.
Unearned Income Income received form sources other than employment.
Created by: hardysh1
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