Question

Which one of the following statements regarding the taxes of state and local governments is true?

a. The greatest source of tax revenue to state and local governments is sales taxes.

b. State and local governments collect more tax revenue than the federal government.

c. The greatest source of revenue to state and local governments is property taxes.

d. Corporate income taxes are a greater source of tax revenue to state and local governments than personal income taxes.

Answer 1

Ans) the correct option is A) The greatest source of tax revenue to state and local governments is sales taxes.

The greatest expenditure of state and local governments is on education.