2.02 I can understand tax

Dean Watson

Income Tax

A tax on earned and unearned income. Income tax is divided into federal and state income tax.

Payroll Tax

A tax on earned income that supports the Social Security and Medicare programs (also known as FICA).

Property Tax

A tax on land, buildings, and vehicles.

Sales Tax

Taxes on purchased goods.

Excise Tax

Purchase of certain items like gas, airplane tickets, and hotel rooms.