Which of the following is the most important source of tax revenue for state governments?

Question

Quizplus · Accepted Answer

Sales and excise taxes are the most important source of tax revenue for state governments. These taxes are levied on goods and services and typically account for a significant portion of state revenue. Personal income tax and corporate income tax also contribute to state revenue, but they are often less significant than sales and excise taxes. Property taxes are typically levied by local governments and may not be a major source of revenue for state governments.

Which of the Following Is the Most Important Source of Tax