click below
click below
Normal Size Small Size show me how
Week 6 Vocab-EW
Vocab
Question | Answer |
---|---|
income tax | money paid to federal and/or state governments based on an individual's income as required by law |
net income | the income that remains after taxes and other deductions are taken from an individual's gross income |
payroll tax | the amount of money that a company withholds from its employees for the federal government as required by law |
property tax | the amount of money collected on the value of a property for the local government as required by law |
sales tax | the amount of money collected by a store (retailer), in addition to a good or service that was purchased, for the local government as required by law |