Home Library Explore SAT

Home Library Explore SAT

Income Taxes Flashcards | StudBud

Explore/Income Taxes

Income Taxes

10 terms·StudBud Administration·249 plays

For anyone in Financial Literacy that is studying income tax for the state of Utah

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Who pays State income Tax?
No one
Everyone
Utah Residents
Utah Workers
2
What is the purpose of income tax?
Funding the Government
Buying Stuff for Senators and Represenitives
To fund Social security/medicare
Funding Government jobs
3
Can you get exemptions from State Income Tax?
No, its a flat tax
Yes
No, you have to pay based off income
Yes, You have to make a certain amount first
4
What does Federal money go towards?
Government subsidies
Social Security
National Debt
Medicade/Medicare
5
Who has to pay Federal Income Tax?
Anyone with a Job
Those who make more then $1000
Those who make more then $500
Those who make more then $200
6
What is income tax?
Something you pay on what you earn
Something you pay a percent of your earnings too
Something that makes life hard in the end
Something you have to do if you have a job
7
What does State Taxes Fund?
Business plans
Roads/Police/Fire Department
Gambling
Alcholhism
8
What is Utah Income Tax?
5%
10%
7.623%
12.5%
9
Can you get exemptions from paying Federal Income Tax?
Yes, you don't need to pay taxes
No, but you can get a refund
No, but you can get them lessened
Yes, You have to make so much money first
10
Where do you pay income Tax too?
Federal
Federal and State
State and City
State