Of the following sources of tax revenue for state and local governments, which was the smallest in 2014?
A)sales taxes.
B)the corporate income tax.
C)the property tax.
D)the individual income tax.

Question

Quizplus · Accepted Answer

According to the U.S. Census Bureau, the corporate income tax was the smallest source of tax revenue for state and local governments in 2014, accounting for only 2.6% of total tax revenue. Sales taxes accounted for 23.1%, the property tax accounted for 31.6%, and the individual income tax accounted for 36.0%.

Of the Following Sources of Tax Revenue for State and Local