Grade 8 Tax Computation Worksheet
A worksheet for 8th graders to practice tax computation, including calculating income tax, sales tax, and property tax.
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Grade 8 Tax Computation Worksheet
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Read each question carefully and show your work. Round all answers to two decimal places where necessary.
1. Sarah earned $35,000 last year. If the income tax rate is 15%, how much income tax does she owe?
2. David's taxable income is $50,000. He pays a federal tax rate of 10% and a state tax rate of 5%. Calculate his total tax liability.
3. A bicycle costs $250. If the sales tax rate is 8%, what is the total price of the bicycle, including tax?
$258.00
$260.00
$270.00
$275.00
4. You buy a new phone for $600. The sales tax is $42. What is the sales tax rate?
5%
6%
7%
8%
5. The assessed value of a house is $200,000. If the property tax rate is 1.5%, the annual property tax is .
6. A commercial building has a property tax of $12,000. If the tax rate is 2%, the assessed value of the building is .
7. Jessica buys a new laptop for $800. The sales tax rate is 7.5%. How much sales tax does she pay? What is the total cost of the laptop?
8. A car is valued at $25,000. The property tax on vehicles is 1.2%. How much property tax is owed on the car annually?
9. Sales tax is usually calculated as a percentage of the purchase price.
True
False
10. Income tax is a tax on goods and services.
True
False