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PF 2.02

basics of taxes

TermDefinition
community group of ppl wit common interests n 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 tax on earned and unearned income
payroll tax tax on earned income
property tax tax on property, such as land, buildings, automobles
sales tax tax on purchased goods and services
taxes sum of money demanding by a gov. to support the gov itself as well as specific facilities or services
taxpayer person who pays a tax to national, state, county or municipal gov.
unearned income income received from sources other than employment
Created by: kekebahdsmith