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PF 2.02
Term | Definition |
---|---|
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, buildings (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 national, state, county or municipal governments |
Unearned income | Income received from sources other than employment |