Which of the following is true regarding state and local taxes?
A) All states impose a state income tax.
B) Every jurisdiction imposes a sales or use tax.
C) The primary purpose of state and local taxes is to raise revenue.
D) Property taxes are primarily used to finance a State's general revenue fund.

Question

Quizplus · Accepted Answer

The primary purpose of state and local taxes is to raise revenue. While some states do impose a state income tax and every jurisdiction imposes a sales or use tax, this is not universally true. Additionally, property taxes may be used to finance various expenses beyond just a State's general revenue fund (such as education).

Which of the Following Is True Regarding State and Local