Which of the following taxes represents the largest portion of U.S. Federal Tax revenues?
A) Employment taxes
B) Corporate income taxes
C) Individual income taxes
D) Estate and gift taxes
E) None of these

Question

Quizplus · Accepted Answer

Individual income taxes make up the largest portion of U.S. Federal Tax revenues, accounting for approximately 50% of all federal tax revenue. Employment taxes (which include Social Security and Medicare taxes) make up the second largest portion at around 35%. Corporate income taxes and estate and gift taxes make up a much smaller proportion of federal tax revenues.

Which of the Following Taxes Represents the Largest Portion of U.S