Grade 10 Tax Calculation Worksheet
A worksheet for Grade 10 students to practice calculating various types of taxes, including income tax, sales tax, and property tax.
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Grade 10 Tax Calculation Worksheet
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Read each question carefully and calculate the requested tax. Show all your work for full credit.
1. Sarah earns an annual salary of $55,000. Her tax bracket is 15% for income up to $40,000 and 20% for income above $40,000. Calculate Sarah's total income tax.
2. A new television costs $850. If the sales tax rate is 7.5%, the sales tax amount is and the total cost including tax is .
3. A house has an assessed value of $200,000. The property tax rate is 1.2% of the assessed value. What is the annual property tax?
$200
$2,000
$2,400
$24,000
4. A progressive tax system means that individuals with higher incomes pay a larger percentage of their income in taxes.
True
False
5. John buys a new car for $25,000. He also pays a 6% sales tax and a one-time registration fee of $300. What is the total amount John pays for the car?
Match each type of tax with its description.
1. Income Tax
a. Tax on goods and services purchased
2. Sales Tax
b. Tax on earnings from wages, salaries, and investments
3. Property Tax
c. Tax on real estate and land ownership