# CTE Resource Center - Verso - Economics and Personal Finance Task 1591973376

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Compute local taxes on products and services.

Definition

Computation should include calculation of sales tax on sample products such as groceries, prepared food, clothing, entertainment, lodging, automobiles, and on sample services.

Other Related Standards

Economics and Personal Finance Standards of Learning

EPF.16

The student will demonstrate knowledge of taxes by
  1. describing the types and purposes of local, state, and federal taxes and the way each is levied and used;
  2. exploring how tax structures affect consumers, producers, and business owners differently;
  3. computing local taxes on products and services;
  4. examining potential tax deductions and credits on a tax return;
  5. explaining the content and purpose of a standard W-2 form; and
  6. explaining the similarities and differences between state and federal taxation of inheritances.

FBLA Competitive Events and Activities Areas

Accounting I

 

Accounting II

 

Business Calculations

 

Business Math

 

Economics

 

Introduction to Business

 

Personal Finance