19
QuizMultiple Choice

Taxes

Question 19 • 2027 Ignite Financial Literacy-Personal Finance - EL3403

In addition to federal income tax, many people also pay

Answer
A
corporate tax.
B
state income tax.
C
local medicare tax.
D
local social security tax.

Explanation

Many people pay state income tax in addition to federal income tax. Corporate tax is generally paid by corporations, while Medicare and Social Security taxes are federal payroll taxes, not local taxes. The correct choice is state income tax.

AI-written and checked against the verified answer.

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