Taxes TEKS 5.10.A

What is the primary purpose of taxes?

• To fund private businesses.

• To pay for public services like schools, roads, and parks.

• To increase personal wealth.

• To provide income for employers.

Which type of tax is paid when an individual or business earns money?

• Sales Tax

• Property Tax

• Income Tax

• Payroll Tax

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When you buy an item at a store, what type of tax is typically added to the price?

• Income Tax

• Payroll Tax

• Property Tax

• Sales Tax

Who primarily pays property tax, and to which level of government does it typically go?

• Employers pay it to the federal government.

• Individuals pay it on earned income to the state government.

• Landowners pay it to a local government.

• Businesses pay it on sold goods to the national government.