Test Your Knowledge About TDS (Tax Deducted at Source)?
Welcome to the U.S. Taxation System Quiz! This quiz will test your knowledge of the complex tax system in the United States. Get ready to explore the various levels of government that impose taxes, including federal, state, and local authorities. Learn about the different types of taxes levied on income, payroll, property, sales, capital gains, dividends, imports, estates, and gifts.
Explore the history of income tax in the U.S. and understand the fundamental concepts behind taxable income, deductions, and credits. Find out about the various filing statuses and how they affect your tax returns.
This quiz will also test your knowledge of Read morestate income tax rates, property taxes, sales taxes, and more. Get ready to unravel the intricacies of the U.S. taxation system and test your expertise in this quiz! Good luck!
- 1.
What are the three levels of government in the United States that impose taxes?
- A.
Federal, local, and regional
- B.
Federal, state, and local
- C.
Federal, state, and international
- D.
State, city, and municipality
Correct Answer
B. Federal, state, and local -
- 2.
Which country had the seventh-lowest tax revenue-to-GDP ratio among OECD countries in 2020?
- A.
Mexico
- B.
Chile
- C.
Colombia
- D.
Ireland
Correct Answer
D. Ireland -
- 3.
How are U.S. tax and transfer policies described in terms of income inequality?
- A.
Regressive
- B.
Neutral
- C.
Progressive
- D.
Unpredictable
Correct Answer
C. Progressive -
- 4.
Which workers pay no income taxes and may even receive a small subsidy from the federal government?
- A.
High-earning workers
- B.
Workers without dependents
- C.
Lowest earning workers with dependents
- D.
Workers with multiple jobs
Correct Answer
C. Lowest earning workers with dependents -
- 5.
What tax is imposed by the federal and all state governments and includes Social Security and Medicare taxes?
- A.
Sales tax
- B.
Income tax
- C.
Payroll tax
- D.
Property tax
Correct Answer
C. Payroll tax -
- 6.
What type of tax is generally imposed only on realty by most local governments and some special-purpose authorities?
- A.
Sales tax
- B.
Payroll tax
- C.
Property tax
- D.
Income tax
Correct Answer
C. Property tax -
- 7.
Which entity imposes tariffs or customs duties on the import of goods from various jurisdictions?
- A.
Federal government
- B.
State governments
- C.
Local governments
- D.
Special-purpose authorities
Correct Answer
A. Federal government -
- 8.
What type of tax is imposed by the federal and some state governments on the transfer of property inheritance, by will, or by lifetime donation?
- A.
Sales tax
- B.
Income tax
- C.
Property tax
- D.
Estate and gift tax
Correct Answer
D. Estate and gift tax -
- 9.
Which Amendment to the United States Constitution authorized the federal income tax in 1913?
- A.
12th Amendment
- B.
14th Amendment
- C.
16th Amendment
- D.
18th Amendment
Correct Answer
C. 16th Amendment -
- 10.
Which of the following states does not have a tax on ordinary personal incomes?
- A.
Texas
- B.
California
- C.
Wyoming
- D.
New York
Correct Answer
C. Wyoming -
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
-
Nov 16, 2023Quiz Edited by
ProProfs Editorial Team -
Jul 17, 2023Quiz Created by
Amit Mangal
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