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Which two sources of state revenue are taxes on income?

The two primary sources of state revenue that involve taxes on income are personal income taxes and corporate income taxes. Personal income taxes are levied on the earnings of individuals, while corporate income taxes are imposed on the profits of businesses. Both types of taxes contribute significantly to state budgets, funding essential services and programs.


what two types of taxes provide the largest amount of revenue to the states?

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.


When are 2009 taxes due?

Federal Form 1040 is due April 15, 2010.Other types of taxes such as corporate taxes, estimated taxes, local taxes, property taxes, employments taxes, excise taxes all have their own due dates.


Types of taxes?

Proportional taxes, progressive taxes and regressive taxes


How are sales taxes and excise taxe alike?

Sales taxes and excise taxes are both forms of indirect taxation imposed by governments to generate revenue. They are collected from consumers at the point of purchase, meaning businesses act as intermediaries in collecting these taxes. Both types of taxes can influence consumer behavior, as they affect the final price of goods and services. However, while sales taxes are typically applied broadly to a wide range of goods and services, excise taxes are usually levied on specific products, such as alcohol, tobacco, and fuel.

Related Questions

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.


Americans pay many different types of taxes to federal state and local governments?

Value added taxes


What types of taxes does the US government collect?

Answer #1: Federal, State, Local and Foreign taxes. Answer #2: I don't think that's what he's asking. Types of taxes such as income or severance or sales taxes is what I think he is asking about.


what two types of taxes provide the largest amount of revenue to the states?

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.


List and describe four sources of state government revenue?

US State sources of income can be the following four types: 1. State income taxes; 2. Income from sales taxes; 3. Income from real estate taxes; and 4. Inheritance taxes.


When are 2009 taxes due?

Federal Form 1040 is due April 15, 2010.Other types of taxes such as corporate taxes, estimated taxes, local taxes, property taxes, employments taxes, excise taxes all have their own due dates.


What is providing service?

The government provides public services off of all taxes from different types of career areas


What would cause corporate business tax revenue to be different from sales tax revenue?

These are completely different types of taxes based on different things to compute the taxes. In Corporate business tax revenue you are dealing with income taxes and even that would be different based on what type of corporation it is, such as and LLC, Subchapter-S Corporation, C Corporation, Partnerships, etc. Sales taxes are collected from the buyer and then sent to the State who then sends part to the State itself and part to the city or county where the transaction occurred.


What are examples for providing public services?

The government provides public services off of all taxes from different types of career areas


Can taxes differ from state to state?

Yes they can and do differ from state to state as each state and local areas have each have different types and amounts of taxes that they add to different items.


What is public revenue in India?

The revenue received by the govt. of india from all its resouerces is know as Public Revenue. There are twi types of revenues:- 1) Tax Revenue 2) Non-Tax revenue - sub-types a) Commerrcial Revenue b)Fee etc..


Types of taxes?

Proportional taxes, progressive taxes and regressive taxes