“Economics: Taxes” is a Social Studies lesson designed to teach upper elementary students about different types of taxes, and why tax is collected. Students learn about income, sales, and property taxes from an informational text. They create a foldable about these three types of taxes, calculate tax, and respond to a writing prompt.
C Corporation is a group of individuals granted a charter, legally recognizing them as a separate entity with rights and liabilities distinct from those of its members. C corporation is liable for any debts incurred rather than the individuals. The taxes are split between corporate and shareholders at different rates.
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