Business Middle School

Which of the following statements about federal taxes is TRUE? Everfi
Federal taxes are payments you make to the federal government.
Federal taxes are payments you make to the state government where you live.
Federal taxes are money you earn from the US federal government.
Federal takes are money you earn from working at a job.

Answers

Answer 1
Federal taxes are payments made to the federal government.
Answer 2

Federal income taxes are collected by the federal government, while state income taxes are collected by the individual state(s) in which a taxpayer lives.

Individual federal income tax rates in the US are progressive, which means that they rise in proportion to taxable income. Federal income tax rates range from 10% to 37%, and they become effective at a certain level of income.

The city, state, or nation where an individual or corporation resides or conducts business is responsible for collecting federal tax from them. Federal taxes are those that are collected and paid to the federal government of the nation. Federal taxes are used by governments to fund the expansion and maintenance of the nation.

Learn more about the Federal Taxes here:

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