Sales Tax
Where is sales tax used?
When buying an item in store or online
Where does income tax come from?
Income tax comes from a paycheck
Heather bought a pack of erasers $1.00. At the cash register, her total was $1.06.
Would this relate to income tax or sales tax?
Sales tax
What are the two types of taxes?
Income tax and sales tax
Is sales tax added on or taken away from a total?
Added on to the total price of what was bought
Is income tax added on or taken away from a total?
Taken away from the total amount of a paycheck
Solve: Haley earned $200 at HHH Ranch last week. If 20% is going towards income tax, how much money will be taken out of her paycheck?
$40
Which tax is taken from a paycheck?
Income tax
Does the money from sales tax go to the local government (city or state) or federal government?
Money from sales tax goes to the local government
Does the money from income tax go to the local government (city or state) or the federal government?
Solve: An XBox controller costs $70.00. If there is a 06% sales tax, how much money will be added on to your total cost?
$4.20
Which tax adds 06% to your total when purchasing an item?
Sales tax
What percentage is added to your total with sales tax?
06%
What percentage is taken away from a paycheck with income tax?
20%
Solve: A set of the newest "My Hero Academia" books costs $108.00. What is the dollar amount that will be added on in sales tax?
$6.48
Around what percentage is taken out of a paycheck for income tax?
20%
Solve: Haley buys a bag of Kit-Kats that cost $29.50. If there is 06% in sales tax, how much money will be added on to her total cost?
$1.77
Solve: Erin earned $180 last week from her comic book business. If 20% is going towards income tax, how much money will be taken out of her paycheck?
$36
Solve: I earned $217 delivering pizza last week. What dollar amount will go towards income tax?
$43.40
What are taxes used for?
Taxes are used to pay for things in our community (roads, parks, schools)