Revenue from federal individual income taxes is larger than revenue from corporate income taxes.

Name: Revenue from federal individual income taxes is larger than revenue from corporate income taxes.
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Question

Quizplus · Accepted Answer

According to the Congressional Budget Office, in 2020, revenue from individual income taxes was approximately $1.6 trillion while revenue from corporate income taxes was approximately $230 billion. Therefore, the statement is true.

Revenue from Federal Individual Income Taxes Is Larger Than Revenue