Download Business Types Lesson 1 (Unit 6) (notes)

Main Ideas / Key Words
proprietorship
liability
partnership
Notes
Types of business ownership (_____)
1. _________ ___________________
Advantages
Disadvantages
corporation
Tax types:
Regressive
2. ________________________
General Limited-
Proportional (Flat)
Progressive
Advantages
Disadvantages
3. _________________________
a. ___-corporations
Taxes on what is EARNED:
1.
Advantages
Disadvantages
2.
3.
b. ___- corporations
Advantages
Taxes on what is BOUGHT
1.
2.
Disadvantages
c. _____-_________ _____________________
3.
Advantages
Taxes on what is OWNED
1.
d. ___________ __________ ______________
2.
3.
4.
Advantages
Disadvantages
Disadvantages
Types of Taxes Review
Directions: Read each question carefully. Consider which type of tax each question
represents: payroll tax, property tax, sales tax, and income tax and write it on the line.
1. __________________________ A tax on retail products.
2. __________________________ A tax you pay on the value of your house.
3. __________________________ A tax paid by an employer.
4. __________________________ Taxes paid on the value of land you own.
5. __________________________ A tax based on the cost of goods or services.
6. __________________________ A tax taken from paycheck by employer based on earnings.
7. __________________________ A tax based on the value of the property you own.
8. __________________________ A tax on retail products based on a set percentage.
9. __________________________ A tax paid by employer that includes Social Security.
10. _________________________ Additional money collected by retailer when a purchase made
Paycheck practice