40.4k views
0 votes
How are federal and state revenues similar?

They both rely heavily on corporate income taxes.

They both place limits on motor vehicle taxes.

They both use sales tax as their main income.

They both collect individual income taxes.

User Hiro
by
3.5k points

2 Answers

7 votes

Answer:

They both collect individual income taxes

Step-by-step explanation:

Income can be taxed using fixed or flexible rate. The state government imposed taxes on income of individuals, corporations, and properties.

The federal government also earns bulk of its revenue from income of individuals. This is followed by the payroll taxes then the body corporate taxes.

Individuals thus make up the bulk of revenue, and not from corporations as one of the options posited. This can be more apparent by varying studies on the tax collection profile. Individual income also contains income from a non resident - an individual worker who comes from a state or country, and thus pay his or her statutory income taxes to the home state. This is a big source of revenue for many countries and state, as a whole.

User Anto King
by
2.9k points
1 vote

Answer:

They both collect individual income taxes.

User Dijana
by
3.3k points