At the federal level, which of the following accounts for almost half of all revenue?
A) corporate income taxes
B) retail sales taxes
C) personal income taxes
D) cigarette taxes

Question

Quizplus · Accepted Answer

Personal income taxes account for almost half of all revenue at the federal level. In 2019, individual income taxes made up 49% of total federal revenue, followed by payroll taxes at 36% and corporate income taxes at 7%. Retail sales taxes and cigarette taxes are typically collected at the state level, and do not account for a significant proportion of federal revenue.

At the Federal Level, Which of the Following Accounts for Almost