Grade 9 Tax Calculation Worksheet
This worksheet covers fundamental concepts of tax calculation for Grade 9 students, including income tax, sales tax, and property tax.
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Tax Calculation Worksheet
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Read each question carefully and provide your answers in the space provided. Show all your work for calculation problems.
1. Sales tax is a percentage of the of goods and services.
2. Income tax is levied on an individual's or company's .
3. Property tax is usually calculated as a percentage of the value of real estate.
4. A tax deduction the amount of income subject to tax.
5. If the sales tax rate is 7% and an item costs $50, what is the total cost?
$50.07
$53.50
$57.00
$50.70
6. Which of the following is NOT a common type of tax?
Income Tax
Sales Tax
Air Tax
Property Tax
7. Sarah earns $3,500 per month. If her income tax rate is 15%, how much income tax does she pay in a month?
8. A house has an assessed value of $250,000. The property tax rate is 1.2%. Calculate the annual property tax.
9. A progressive tax system means that higher-income individuals pay a smaller percentage of their income in taxes.
True
False
10. Sales tax is generally applied to all goods and services, including essential groceries.
True
False