The corporate income tax provides about 5 percent of the annual tax revenues for the typical U.S. state.

Name: The corporate income tax provides about 5 percent of the annual tax revenues for the typical U.S. state.
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This statement is generally true. According to the National Association of State Budget Officers, in fiscal year 2019, corporate income taxes accounted for an average of 4.4 percent of total state tax revenues across all states. However, the specific percentage may vary by state.

The Corporate Income Tax Provides About 5 Percent of the Annual