Additional Taxes That Can Be Applied to Education Include

question 36

Multiple Choice

Additional taxes that can be applied to education include

• A)excise, gift tax, severance tax, and corporate income tax.
• B)excise tax and corporate tax.
• C)gift and excise tax.
• D)severance tax.

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Definitions:

Unemployment Compensation

Financial payments made to individuals who have lost their job through no fault of their own, intended to provide a temporary source of income.

Regressive Tax

A tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases, disproportionately affecting those with lower incomes.

Social Security Tax

A payroll tax collected to fund the Social Security program, charged to both employers and employees.

Sales Tax

A tax imposed by a government on sales of goods and services, collected by the retailer and passed on to the state or local government.