The greatest source of revenue for most state governments is the ________ tax.
A) personal income
B) corporate income
C) estate and gift.
D) general sales
E) property

Question

Quizplus · Accepted Answer

General sales tax is the greatest source of revenue for most state governments. This tax is imposed on the sale of goods and services and is a percentage of the price paid by the consumer. It is a broad-based tax and applies to a wide range of items, making it a significant source of revenue for state governments. Personal income tax and property tax are also significant sources of revenue for state governments, but they are not as broad-based as the general sales tax. Corporate income tax and estate and gift tax are relatively minor sources of revenue for state governments.

The Greatest Source of Revenue for Most State Governments Is