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What tax represents the largest % of state tax revenue

User Ben Sefton
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Final answer:

Sales tax contributes the largest percentage, about 47%, to state tax revenue, while individual income tax accounts for approximately 38%.

Step-by-step explanation:

When looking at state tax revenue, the sales tax represents the largest percentage of total tax revenue. According to the given information, about 47 percent of state tax revenue is derived from sales tax. This encompasses taxes on a variety of items, including food, clothing, alcohol, amusements, insurance, motor fuels, tobacco products, and public utilities.

The individual income tax follows closely behind, accounting for roughly 38 percent of the total tax revenue for states. It is important to note that the specific tax structure varies from state to state, with some states like Alaska and Nevada not levying individual income taxes and relying more heavily on other forms of taxation.

User Shaquawna
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