IXL | Identify types of taxes

Which type of tax is described below?

Jerome loves books so much that he started his own publishing company. This year, he pays a tax of

4,509

on the profit from his publishing business.

income tax

property tax

sales tax

ref_doc_title.

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question

Which type of tax is described below?

Becky installs new solar panels on the roof of her house. The solar panels will help her save money on her electric bill. However, she will have to pay $120 more in taxes per year on her house.

income tax

payroll tax

property tax

key idea

Taxes are money that is paid to a local, state, or federal government.

Income tax is a tax on your income, or the money you earn. The amount of income tax you pay depends on how much money you earn.

Payroll tax is the portion of an employee's earnings that the employer withholds, or holds back, from a paycheck. The employer sends this tax money to the government.

Property tax is a tax on property that you own. The amount of property tax you pay depends on the value of the property.

solution

Becky's house is property that she owns. The solar panels increase the value of her house. The amount of tax she pays is based on the value of her property. This tax is a property

tax.

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VV.2Income and payroll taxes: word problems

VV.3Sales and property taxes: word problems

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