Title: 👉In Class Lesson: Understanding Taxes (Teacher Only)
Course: Tennessee Economics Sample Syllabus > Section: Standard 4: 🏛️The Role of Government

👉In Class Lesson: Understanding Taxes

Lesson Time: 45 minutes

Students discuss factors that make various taxes different: bases, rates, structures, methods of collection, and level of government imposing the tax. They learn a simple tax formula and information about four common types of taxes (income, payroll, sales, and property). Students apply this knowledge to calculate for three households the total taxes paid and the net income based on their gross income and expenditures.