7 th Grade Civics Miss Smith *pgs

 Income tax- tax on the ________ of individuals and __________  The ____ source of ________ collected by the _______ gov.  The amount each citizen ____ is calculated based on how much they ____ and other factors explained in the U.S. ___ ____

 Taxpayers can deduct (or ________) a certain amount of _____ from their taxes for themselves and their dependents (__________ are people who rely on other people for ________ support)  These amounts are called __________

 Employers take ______ tax out of each employees ________ and forwards it to the ___________ on their ______

 Employers also deduct Social Security tax from ________  This tax is used to provide ______ to the ______ and people with ___________

 Most state and ____ governments also collect ______ tax  These tax _____ are lower than ________ income tax ______

 _____ on a corporation’s _______  Profit- income a ________ has left after paying ________

 Sales tax is _________ on most ________ sold  Excise taxes are like _____ taxes but on ______ goods

 Property tax- tax on the _____ of the property owned by a ______ or business  The ____ source of ______ for most _____ governments  Collected on ____ and personal property  Real property- land, buildings, and other __________  Personal property- ______, bonds, _______, cars, and _____  Most public _______ _______ comes from property taxes

 Estate tax- _______ tax on all the _______ a person leaves  Inheritance tax is based on the _______ of an ______ received by an individual after the estate is _______  Gift taxes are paid on gifts worth more than $______

 Tariff- _______ tax on products from other countries (sometimes called a _______ duty)  Regulates _____ and supports the U.S. _______  Can be used to encourage American industry by making _______ products less expensive than ________ products  Or can ____ American consumers by making the products they buy more ___________