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The second largest source of tax revenue for the federal government is payroll taxes. These taxes primarily fund Social Security and Medicare programs and are collected from both employees and employers. Payroll taxes constitute a significant portion of federal revenue, following income taxes, which are the largest source.
What else can I help you with?
Is closing the revenue account the second closing entry?
no. the first step is closing the revenue account. Then comes expenses and then income summary.
Who is the worlds second largest producer of oil?
Saudi Arabia
What does Principal Bus Activity mean on the Internal Revenue Service Information Referral sheet?
"Describe the Primary Business Activity" as it states on the second page of the PDF http://www.irs.gov/pub/irs-pdf/f3949a.pdf :]
What are the three purposes of taxes?
Taxes serve three primary purposes: revenue generation, redistribution of wealth, and economic stabilization. First, they provide funding for government services and infrastructure, such as education, healthcare, and public safety. Second, taxes help redistribute wealth to reduce inequality through social programs and welfare. Lastly, they play a role in economic stabilization by influencing consumer behavior and managing inflation or recession through fiscal policy.
Billed customers 16450 for crop dusting services rendered during the second half of the month show its adjusted general journal entry?
To record the billing for crop dusting services rendered, the adjusting journal entry would be as follows: Date: [End of month date] Debit: Accounts Receivable 16,450 Credit: Service Revenue 16,450 This entry recognizes the revenue earned from the crop dusting services and reflects the amount billed to customers in the accounts receivable.
What role does Social Security play in government revenue?
Social Security is the second largest source of revenue
What is the second largest revenue source in the Caribbean?
Tourism is the leading revenue source for the Caribbean islands.
What is the second largest object of public spending by the federal government?
The second largest object of public spending by the federal government is typically Social Security. This program provides financial assistance to retirees, disabled individuals, and survivors of deceased workers. It follows healthcare spending, primarily through Medicare and Medicaid, which usually occupies the top position in federal expenditures. Together, these programs reflect the government's commitment to social welfare and support for its citizens.
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.
Which is the second largest film industry in India?
Tamil film industry, the Kollywood, is the second largest film industry in India, interms of revenue and global distribution/market. Bollywood, ofcourse, is the largest.
The is the second level in the your federal government system?
state government
At what level are the states located in your federal system of government?
second
What is the second level in federal government system?
state
What Is The Worlds Second Largest Federal Office Building?
jinan, china
What level are the state located in the federal system of government?
Second
What is Guadalajara's type of government?
Guadalajara is the second-largest city in the country of Mexico (whose capital and largest city is Mexico City). Mexico is a federal presidential representative republic. Guadalajara is also the capital of the state of Jalisco, one of the 31 states (plus one federal district) that compose Mexico.
What is the second largest part of the local government budget?
police
