Of the following,the largest source of tax revenue collected by state and local governments comes from

Question

Quizplus · Accepted Answer

Sales taxes are the largest source of tax revenue collected by state and local governments. According to the U.S. Census Bureau, in 2019, sales taxes accounted for 47.4% of state and local tax revenue, while individual income taxes accounted for 30.3%, property taxes accounted for 22.3%, and all other taxes combined (including corporate income taxes and death taxes) accounted for less than 1%. Therefore, the best choice is option D.

Of the Following,the Largest Source of Tax Revenue Collected by State