The primary source of revenue at the federal level is:
A) the corporate income tax.
B) the personal income tax.
C) property taxes.
D) sales taxes.
E) customs duties.

Question

Quizplus · Accepted Answer

The personal income tax is the largest source of revenue for the federal government, accounting for approximately half of all federal revenue. Corporate income tax, customs duties, and other taxes account for smaller portions of federal revenue. Property taxes are primarily collected at the state and local level, not at the federal level. Sales taxes are also primarily collected at the state and local level, although the federal government does collect some excise taxes on certain products.

The Primary Source of Revenue at the Federal Level Is