Which of the following would be considered a derived tax revenue?
A)Collection of property taxes.
B)FICA is withheld from the employee pay.
C)A grant is received from the federal government.
D)A private citizen willing sends money to buy books for the local library.
E)Fees are collected on overdue library books.

Question

Which of the following would be considered a derived tax revenue? 
A)Collection of property taxes.
B)FICA is withheld from the employee pay.
C)A grant is received from the federal government.
D)A private citizen willing sends money to buy books for the local library.
E)Fees are collected on overdue library books.

Quizplus · Accepted Answer

Derived tax revenues are taxes that are collected based on an underlying transaction or event, such as income or sales. FICA (Federal Insurance Contributions Act) taxes are derived from employee wages.

Which of the Following Would Be Considered a Derived Tax