Which of the following accounted for the largest percentage of federal taxes in the United States in 2012?
A)Excise taxes
B)Social security taxes
C)Individual income taxes
D)Corporate income taxes
E)Property taxes

Question

Quizplus · Accepted Answer

Individual income taxes accounted for the largest percentage of federal taxes in the United States in 2012, making up about 47% of total federal revenue. Social security taxes and corporate income taxes were the next largest sources of revenue, each accounting for about 35% and 9% of total federal revenue, respectively. Excise taxes and property taxes are typically collected at the state and local levels, and therefore do not contribute significantly to federal tax revenue.

Which of the Following Accounted for the Largest Percentage of Federal