Across
- 2. imposed on the sale of specific goods or services, or on certain uses like fuel, tobacco, alcohol and other goods and services.
- 5. applied on the profits from the sale of an asset such as a stock, or a property.
- 7. applied on income to fund the medical care for people over the age of 65. Together with the Social Security tax, they make up the FICA tax.
- 8. used by the U.S. federal government to fund retirement, disability, dependents, and survivors benefits.
- 10. imposed on an individual’s assets after they die. In the U.S.the IRS exempts estates of less than $11.58 million.
Down
- 1. paid on things that you own, such as a house. It is usually collected by the local government and is used to fund local government agencies such as police officers, firefighters or schools.
- 3. applied to any good that is purchased and are generally calculated as a percentage of the purchased good.
- 4. the tax on money or property that one living person or corporate entity gives something of value to another. Any gift worth more than $15,000 (per year) would be subject to this tax.
- 6. imposed by the government on any income generated by an individual or a business.
- 9. paid on imported or exported goods. In the U.S. only imports are subject to this tax because exports are not subject as a result of the Import-Export Clause of the U.S. Constitution.