Analyzing Tax Worksheet (need done ), history homework help

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Question Description

Former Supreme Court Chief Justice John Marshall once stated, “The power to tax is the power to destroy.” The power to tax, the principle of taxation, and the effect taxes have on citizens has existed since the inception of America itself. However, much of it is misunderstood.

Use the sample property tax bill, pay stub, utility bill, and sales tax receipt provided below to complete the Analyzing Tax Worksheet.

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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 Amount of Tax? Services the Tax is Applied Towards Federal Tax State Tax Social Security Tax Medicare Tax 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. 2. Who determines the amount of each tax? 3. Where does revenue from this tax go? What does it fund? Part Three: Utility Tax Use the sample utility bill provided to answer the questions below. © 2015. Grand Canyon University. All Rights Reserved. 1. List all of the taxes (percent, amount, etc.) found on the bill. 2. Who determines the amount of each tax? 3. Where does revenue from this tax go? What does it fund? 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. 2. Who determines the amount of each tax? 3. Where does revenue from this tax go? What does it fund? 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. EARNINGS STATEMENT COMPANY NAME Sample Company Name, Sample Address, 95220 EMPLOYEE NAME SOCIAL SEC. ID EMPLOYEE ID CHECK NO. PAY PERIOD PAY DATE Sample Name XXX-XX-3432 44234 48869 1/29/16-2/11/16 2/12/16 INCOME RATE HOURS CURRENT TOTAL DEDUCTIONS CURRENT TOTAL YEAR-TO-DATE REGULAR 15.00 80 1200.00 FICA MED TAX 17.40 52.20 FICA SS TAX 74.40 223.20 150.10 450.30 0.00 0.00 CURRENT DEDUCTIONS 241.90 NET PAY 958.10 FED TAX STATE TAX YTD GROSS 3,600.00 YTD DEDUCTIONS 725.70 YTD NET PAY 2,874.30 CURRENT TOTAL 1,200.00 EARNINGS STATEMENT COMPANY NAME Sample Company Name, Sample Address, 95220 EMPLOYEE NAME SOCIAL SEC. ID EMPLOYEE ID CHECK NO. PAY PERIOD PAY DATE Sample Name XXX-XX-3432 44234 48869 1/29/16-2/11/16 2/12/16 INCOME RATE HOURS CURRENT TOTAL DEDUCTIONS CURRENT TOTAL YEAR-TO-DATE REGULAR 15.00 80 1200.00 FICA MED TAX 17.40 52.20 FICA SS TAX 74.40 223.20 150.10 450.30 0.00 0.00 CURRENT DEDUCTIONS 241.90 NET PAY 958.10 FED TAX STATE TAX YTD GROSS 3,600.00 YTD DEDUCTIONS 725.70 YTD NET PAY 2,874.30 CURRENT TOTAL 1,200.00 EARNINGS STATEMENT COMPANY NAME Sample Company Name, Sample Address, 95220 EMPLOYEE NAME SOCIAL SEC. ID EMPLOYEE ID CHECK NO. PAY PERIOD PAY DATE Sample Name XXX-XX-3432 44234 48869 1/29/16-2/11/16 2/12/16 INCOME RATE HOURS CURRENT TOTAL DEDUCTIONS CURRENT TOTAL YEAR-TO-DATE REGULAR 15.00 80 1200.00 FICA MED TAX 17.40 52.20 FICA SS TAX 74.40 223.20 150.10 450.30 0.00 0.00 CURRENT DEDUCTIONS 241.90 NET PAY 958.10 FED TAX STATE TAX YTD GROSS 3,600.00 YTD DEDUCTIONS 725.70 YTD NET PAY 2,874.30 CURRENT TOTAL 1,200.00 PARCEL/ACCOUNT # 123-45-678 Chuck Thompson ANYWHERE COUNTY TREASURER Property taxes are mailed once a year. If you change mailing address, pay off a Mortgage that pays your taxes or purchase after the cut off, you may not receive a bill. It is important to update your mailing address with the Treasurer’s Office because taxes are due even if a bill is not received. http://treasurer.anywhere.gov So we can provide you with more of the information you want regarding your property taxes see detailed information on other side. (602) 999-9999 888 S. JEFFERSON ST. – Room 100 ANYTOWN, AZ 85003—2199 ANYWHERE COUNTY CONSOLIDATED 2015 PROPERTY TAX STATEMENT JOHN DOE 1234 E ANY ST ANYTOWN, AZ 85003 Your 2015 Property Tax Summary for Parcel # 123-45-678 2014 17 , 100 17 , 100 Limited Value (Primary Full Cash Value (Secondary) Previous Year Total Ratio . 100 . 100 Assessed 17 , 110 17 , 110 $165.44 LIMITED Land/Building Personal Property Exemption Primary Tool RATIO ASSESSED 16 , 984 0 . 100 . 100 16 , 984 . 100 Ratio . 100 Assessed 1 , 698 Total 2015 Assessed Taxes PRIMARY LIMITED VALUES (PRI) TYPE 2015 16 , 984 1 , 698 0 0 1 , 698 $172.04 PARCEL/ACCOUNT # 123-45-678 Property Address: 1234 E ANY ST LEGAL DESCRIPTION SEC/LOT 7 TWN/BLK 1 RNG/TR AREA CODE: 011300 SECONDARY FULL CASH VALUES (SEC) TYPE FULL CASH RATIO Property address is provided by the Anywhere County Assessor’s Office ASSESSED Land/Building Personal Property Exemption Secondary Tool Own several properties? Bulk payments may be your answer. Visit http://treasurer.anywhere.gov to learn more about making payments on-line. Learn how your tax dollars are spent! SPECIAL DISTRICT (VALUE/ACRES/SQ FT) = ASSESSED DIST # A = ACRES, S = SQUARE FEET, D = DOLLAR ASSESSMENT More detailed information is available at http://treasurer.anywhere.gov. View our tax bill on-line, and find information about how your property taxes are allocated. View a map of delinquent parcels Check your property on our map! The map highlights properties that are behind in their taxes. It will also help you check to see if there are any “orphan” parcels associated with your real estate. Visit http://treasurer.anywhere.gov. Rate/100 2014 Amount 2015 Amount Change +7.3% +4.8% +4.7% +4.5% +16.3% +6.5% -2.2% -2.7% -1.4% ANYTOWN ELEMENTARY ANYTOWN ELEMENTARY BONDS ANYTOWN ELEMENTARY OVERRIDES ANYTOWN HIGH SCHOOL ANYTOWN HIGH SCHOOL BONDS ANYTOWN HIGH SCHOOL OVERRIDES COMMUNITY COLLEGE DIST COMMUNITY COLLEGE DIST BONDS STATE EQUALIZATION TAX PRI SEC SEC FRI SEC SEC PRI SEC PRI C D D C D D C D A 4.2665 1.6079 1.13127 3.5951 .8485 .5135 1.2628 .2312 .5054 67.51 26.05 21.29 58.43 12.38 8.19 21.93 4.04 8.70 72.46 27.31 22.28 61.05 14.40 8.72 21.44 3.93 8.58 STATE AID ELDERLY ASSISTANCE PRI PRI G H CREDIT CREDIT 31.4894.44- 39.6093.90- CITY OF PHOENIX VOTER-APPROVED CITY BONDS PRI SEC E D 1.3414 .4766 PRI B 1.3699 SEC SEC SEC SEC SEC SEC B A B B F D .1592 .1400 .0116 .0556 .1943 .1078 TOTAL FOR SCHOOLs/EDUCATION TOTAL FOR GENERAL COUNTY GENERAL COUNTY FUND TOTAL FOR GENERAL COUNTY FLOOD CONTROL OF ANYTOWN CITY CENTRAL AZ WATER CONSV DIST FIRE DISTRICT ASSISTANCE TAX LIBRARY DISTRICT ANYTOWN SPECIAL HEALTH DIST. ANYTOWN SPECIAL HEALTH DIST. BONDS TOTAL FOR SPECIAL DISTRICTS GRAND TOTAL 102.60 106.67 31.13 30.91 22.59 23.11 9.12 165.44 11.35 172.04 23.16 7.97 22.59 2.38 2.40 0.20 0.96 3.18 0.00 22.78 8.13 23.11 2.70 2.38 0.20 0.94 3.30 1.83 -1.6% +2.0% 2.3% +13.4% -0.8% 0.0% -2.1% +3.8% 0.0% +4.0% My Place Market 8888 Anywhere St. Anytown, Phoenix. AZ 85044 S-426 R-2 T-1125 TARA SALE 108500000 108500000 Jewelry Jewelry 3.00 5.99 SUBTOTAL TAX TOTAL TOTAL CASH CHANGE DUE 8.99 0.77 9.76 20.00 10.24 Number of Items Purchased: 2 Thank You! Please come again Become a fan on Facebook. Return Policy on back of receipt Michael C. Sample Account Number: 1234567890t Billing Date: 7/19/14 Due Date: 8/9/14 Page 1 of 2 City of Anytown City Services Bill The 2016 Anytown Water Quality Report is available online at Anytown. gov/waterqualityreport. City Services Statement as of 7/21/2015 Previous Balance Payments Recieved - Thank You Balance Forward Current Charges If your curbside trash or recycling container is broken complete our online form at Anytown.gov/publicworks or call 602-999-1234 to request a new one. $59.94 -59.94 0.00 68.09 Total Amount Due $68.09 Service Address: 1234 ANYSTREET RD. PHOENIX, AZ 85000 Meter Number Date Previous Meter Read Reading Date Current Meter Read Reading 12345678 6/18/2014 1749 7/19/2014 1761 Water Used in Billing Cycle 12 Units 8976 Gallons 1 unit = 745 gallons Your Monthly Water Usage (gallons) Water/Sewer Service from 6/18/2014 to 7/19/2014 10,0008,0006,0004,0002,000JUL AUG SEPT nLast Year OCT NOV DEC JAN FEB MAR APR oCurrent Year Water/Sewer Services: Solid Waste: TDD: To Pay Online: (602) 252-6251 (602) 262-7251 (602) 534-1113 www.anytown.gov MAY JUN Water Base Fee Water Usage Fee Environmental Mandates - Water City Services Tax Sewer Fee Environmental Mandates - Sewer State Mandated Jail Costs City Sales Tax State and Other Taxes $4.36 7.54 4.56 1.50 15.89 3.62 1.00 0.97 1.80 Subtotal $41.24 Solid Waste Service from 6/18/2014 to 7/19/2014 Refuse State Landfill Disposal Fee Subtotal $26.80 0.05 $26.85 Please detach and return the portion below with your payment CITY OF ANYTOWN PAYMENT INSTRUCTIONS Unpaid Balance $0.00 Current Charges Due 8/9/2014 68.09 TOTAL DUE $68.09 Please make checks payable to City of Anytown. Do not send cash through the mail. Please write account number on check. A Late Fee will be applied if payment is received after the Due Date. Account Number: 1234567890 Amount Paid $ Project Assist Donation $ ­­­­­­­­___________ SN 0020130128 RT# 000001075 AN 91234567890000 TC 039100 002013012891234567890000120910030000006809000000000000000000000000000000000 Sample, Michael C. 1234 W. ANYSTREET RD. ANYTOWN, AZ 85000-123456 SEND PAYMENTS TO: City of Anytown P.O. Box 29100 Anytown, AZ 85038-9100 ...
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Tutor Answer

Missmourine
School: New York University

Attached.

Tax worksheet
Name
Course
Institutional affiliation

1

POS-301: Worksheet Analysis

Part One: Income Tax
Use one of your paystubs to fill in the table below.
Who Determines the

Services the Tax is Applied Towards

Amount of Tax?
Federal Tax

Congress

Pubic good and utilities such as education,
defense, and social security

State Tax

Federal governments

Public services

Social Security

Determined by the

Aims at helping the employed persons once

Tax

state

they retire from active service

Medicare Tax

Federal Government

Payment of medical services within the
country

Other (Please
specify)

Part Two: Sales Tax

1. List all of the taxes (percent, amount, etc.) found on the receipt.


The sales tax range from 1.8% to 7.75%



VAT



Corporate Income tax

2. The determinant to amount of each tax.
The sales taxes are determined by the stat...

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Anonymous
awesome work thanks

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