POS301 Grand Canyon University University My Place Market Taxation Analysis Details: Former Supreme Court Chief Justice John Marshall once stated, “The p
POS301 Grand Canyon University University My Place Market Taxation Analysis Details:
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.
Sample Pay Stub
Sample Sales Receipt
Sample Utility Bill
Sample Property Tax Statement
POS301.R_Topic7Worksheet-8-29-16.docx EARNINGS STATEMENT
COMPANY NAME
Sample Company Name, Sample Address, 95220
EMPLOYEE NAME
Sample Name
SOCIAL SEC. ID
XXX-XX-3432
EMPLOYEE ID
44234
CHECK NO.
48869
PAY PERIOD
1/29/16-2/11/16
PAY DATE
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
24.00
72.00
FED TAX
STATE TAX
YTD GROSS
3,600.00
YTD DEDUCTIONS
797.70
YTD NET PAY
2,874.30
CURRENT TOTAL
1,200.00
CURRENT DEDUCTIONS
265.90
NET PAY
934.10
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
24.00
72.00
FED TAX
STATE TAX
YTD GROSS
3,600.00
YTD DEDUCTIONS
797.70
YTD NET PAY
2,874.30
CURRENT TOTAL
1,200.00
CURRENT DEDUCTIONS
265.90
NET PAY
934.10
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
24.00
72.00
FED TAX
STATE TAX
YTD GROSS
3,600.00
YTD DEDUCTIONS
797.70
YTD NET PAY
2,874.30
CURRENT TOTAL
1,200.00
CURRENT DEDUCTIONS
265.90
NET PAY
934.10
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
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
© 2015. Grand Canyon University. All Rights Reserved.
Use the sample utility bill provided to answer the questions below.
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.
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
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%
Purchase answer to see full
attachment
