Income Tax
True or False:
Income tax is withdrawn from the employee's payroll.
What is "True" Why should the boss have to pay it?
True or False:
Social Security tax, Medicare tax, federal and state unemployment taxes, and local taxes are examples of payroll tax.
What is "True" They all are deducted from the person's profit.
True or False:
Payroll tax is about 8 percent.
What is "True" .825% usually.
True or False:
You don't have to pay tax on a business property.
What is "False" it is still the business owners property.
What type of tax is when:
You have to pay 33 cents extra on your 4 dollar watermelon at Tom Thum.
What is "Sales tax" they sold the watermellon.