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POS-301: Analyzing Tax Worksheet

Complete all five parts of the worksheet.

Part One: Income Tax


Use the sample pay stub provided to fill in the table below.

Who Determines the Services the Tax is Applied Towards


Amount of Tax?

Federal Tax Federal Government Helps fund various programs such as


Medicare, education, and Social Security.

State Tax Local State Helps fund various items tied to the state
Government budget. These things include state roads,
construction, and electricity.

Social Security Federal Government As stated in the tax, it is for the Social Security
Tax Program.

Medicare Tax Federal Government As stated in the tax, it is for the Medicare
Program.

Other (Please
specify)

Part Two: Sales Tax


Use the sample sales receipt provided to answer the questions below.
1.List all of the taxes (percent, amount, etc.) found on the receipt.
My Place Market receipt total: $9.76
Tax Total: $0.77
Sales Tax: 7.89%
2. Who determines the amount of each tax?
Those who determine the amount of each tax come from the local and state governments.

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3. Where does revenue from this tax go? What does it fund?
This tax help generate general funds for the local and state governments. These types of
funding’s include state roads, other expenditures, and other state needs.

Part Three: Utility Tax


Use the sample utility bill provided to answer the questions below.
1. List all of the taxes (percent, amount, etc.) found on the bill.
City Service Tax: $1.50
City Sales Tax: $0.97
State and Other Taxes: $1.80

2. Who determines the amount of each tax?


The amount of each of these taxes is determined by laws made by the state. If we had to narrow
it down, local municipality may be involved in determining the general amount of each tax
listed.

3. Where does revenue from this tax go? What does it fund?
The revenue collected by these taxes goes to the local municipality and the state governments.
The Local municipality will use these funds to fund general expenditures and other city taxes
such as services tax and sales tax. The state government will use it as funding for other taxes
and/or state taxes.

Part Four: Property Tax


Use the sample property tax statement provided to answer the questions below.
1. List all of the taxes (percent, amount, etc.) found on the statement.
State equalization tax: 51%, $8.70 (2014), $8.58 (2015). 1.4% change.
Fire District Assistance Tax: 1%, $0.20 (2014), $0.20 (2015). No change
2. Who determines the amount of each tax?
Those that determine the amount of each tax is either a county tax assessor or a taxing district.

3. Where does revenue from this tax go? What does it fund?
The revenue from these taxes goes to the county or local governments. It helps fund various
resources needed such as fire, sewage, or police services.

Part Five: Summary and Analysis


Write a 200-350-word summary below of your findings and what you have learned about how
you are taxed.
Taking a look at this assignment, I have come to the conclusion that we are taxed to
provide for a variety of different things. Not only are we taxed to help fund these different
services, but it also helps fund the governments that make sure these services run smoothly. This
makes paying taxes important because if we didn’t it would mean that people would be
unsatisfied, and our cities would be in shambles. I find that one area that we do not see very
many taxes being allocated to is that of our education such as schools, supplies, and other things
that deal with learning. We are constantly seeing in the news that there isn’t much funding for
education which is what is making our system suffer in the first place. Looking at this
assignment, up until participating in it I found it easy to criticize the use of the taxes we pay. But
this opens my eyes to what we are offered due to our taxes. For example, if we did not pay taxes
then we would have no ambulance services. Without those I would be out of luck due to my
medical condition. Taxes definitely go to help the state and its people. This is an assignment I
will pass on to those in the future.

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