Chapter 2 Income, Benefits and Taxess

Self-employment income is a form of unearned income.

All states have the same minimum wage rate.

By law, overtime is generally 1½ times the regular rate of pay.

Tips are not subject to federal or state income taxes.

Commission income is earned only when a sale is made.

Employers with more than 25 employees are required by law to offer health insurance.

Group insurance rates are usually more expensive than individual policy premiums.

A capital gain is income from the sale of stock for more than you paid for it.

The sales tax is an example of a progressive tax.

Employee benefits, either directly or indirectly, from public goods.