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what two types of taxes provide the largest amount of revenue to the states?
Wiki User
∙ 9y ago
The total revenue for the United States is 5.7 trillion dollars. The two largest components of this total are Income Tax and Social Insurance taxes, which provide 2.2 trillion and 1.5 trillion dollars, respectively.
Wiki User
∙ 9y ago
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There is the Internal Revenue and the Internal Revenue Service. What is the difference?
The Internal Revenue is a government agency that is subject to Title 26 United States Code. The Internal revenue Service is a private debt collection agency subject to Title 15 of the United States Code and is a private collection agency contracted by the Internal Revenue.
How do states raise revenue?
Mainly through taxation.
How do states mainly raise revenue?
Mainly through taxation.
What kind of tax accounts for about half the total tax revenue of states government?
Income Tax
The revenue recognition concept states that revenue should be recorded in the same period as the cash is received?
False Because it determines when revenue is credited to a revenue account. Cash method means the transaction is reported when cash is received, but the revenue recognition concept means a transaction is reported as a sale even if no money has been paid. Cash basis does not recognize payable or receivable accounts.
Which two types of taxes provide the largest amount of revenue to states?
For most states, one of the two types of taxes that provide the largest amount of revenue to the state is property taxes. Sales tax is the other tax that provides a large part of the revenue. Income taxes provide some state revenue.
What is the largest source of revenue for states?
sales tax,property taxes and intergovernmental revenre
Nevada taxes that bring the largest revenue to the state?
Gambling Taxes: Taxes on gaming are the largest source of revenue for the states general fund, generating almost one half (1/2) of the states receipts. The bulk of this revenue comes from the state tax on the gross gambling income of the casinos.
Where does most of the state revenue comes from?
Revenue of states comes from income taxes from people and businesses in their area. It also comes from materials that are being exported to other states where they generate an amount of revenue as well.
What is the largest single source of revenue for the federal government?
In the United States, it's Personal Income Tax.
Where is the largest amount of energy is consumed in united states?
industry
In the United States The largest amount of energy is consumed by?
INDUStRY
What determines the amount of tax that a citizen pays to the US treasury?
The Internal Revenue Code, Title 26 of the United States Code, as enacted by Congress and enforced by the Internal Revenue Service.
What three states has the largest amount of US representatives?
California, new York, Illinois
In what year did United States Department of Revenue first provide tax forms and booklets in Adobe PDF format on its website?
October 2004
Could someone please use the word tourism in a sentence?
Tourism brings a considerable amount of revenue to states such as Florida, California, and Hawaii.
When was United States Revenue Cutter Service created?
United States Revenue Cutter Service was created in 1790.
