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What is the federal governments biggest single source of tax revenue?
Wiki User
∙ 11y ago
The individual income tax is the government's biggest single source of tax revenue.
Wiki User
∙ 11y ago
Wiki User
∙ 14y agoIncome Taxes
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What is the most important source of local tax revenue?
One of the most important sources of local tax revenue is property taxes. Every home owner in a municipality has to pay property taxes every year. These taxes help fund things like police salaries and schools.
In most states the largest single source of revenue comes from?
Due to the very different nature of U.S. states, there is no good answer to this question. The top three sources of income for US States are: sales tax, personal/corporate income tax, and passdown from the Federal government. Given that not all states have both income and sales taxes (some have only one or the other), and that the amount of Federal passdown can vary widely (both between different states, and from year to year), there is no good generalization to be made about the single biggest source of income for a majority of the states. Note, if you want to be strict about the word "revenue" (as in, a source of income that the state directly collects), that would exclude Federal passdown. 41 states impose an income tax (plus 2 which tax only investment/interest income), while 45 impose a sales tax. Two states (Alaska and New Hampshire) have no general sales or income taxes. The latter two states tend to rely on property/business income tax (in NH) and oil production taxes (AK) for the majority of their revenue.
What is the single largest US consumer of goods and services?
US Federal Government
What is the largest single asset in the federal reserve banks' consolidated balance sheet?
Securities.
Would the legalization of same-sex marriage raise income tax rates or increase the amount of government entitlement spending?
No. It hasn't done either of these on the state level in states where it has been legalized. Although many same-sex married couples will pay less federal income tax when the federal government begins to recognize same-sex marriage, the reduction in tax revenue is not large enough to create a need to increase the tax rate for everyone to compensate for it.As for entitlement programs, marriage in general does not generally increase government spending in that area. Many entitlement programs have eligibility criteria that will actually eliminate more gay people when their marriages are recognized on the federal level and their spouses' income will be counted when determining eligibility. Benefits for married couples are not greater, and in fact are sometimes less, then the benefit for the same two people when they are considered as single individuals.
The federal government's biggest single source of revenue is from?
Individual income tax is the federal governments biggest source of revenue. It has been the biggest source of revenue since 1950.
What is the single most important source of revenue for state governments today?
Sales tax.
Who is the largest single buyer?
Federal, state, and local governments represent the largest single business or organizational market.
What is the largest single source of revenue for the federal government?
In the United States, it's Personal Income Tax.
Does the Single Audit Act apply to state and local governments?
Establish uniform requirements for audits of federal funds provided to state and local governments
What did the Single Audit Act establish?
The U.S. Congress adopted the Single Audit Act (SAA; Public Law 98-502) in 1984 to establish entity-wide audit requirements for state and local governments and Indian tribal governments receiving federal financial assistance.
What is one key difference between unitary and federal governments?
unitary is where all powers are held by a single central agency. Federal has the powers of the government divided by a written constitution between central government and regional.
What was the single biggest threat to the puritan social order?
the market economy was the single biggest threat
What is the most important source of local tax revenue?
One of the most important sources of local tax revenue is property taxes. Every home owner in a municipality has to pay property taxes every year. These taxes help fund things like police salaries and schools.
Which New Kids on The Block song is their biggest selling single to date?
They biggest selling single is Step by step.
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JLS's biggest single yet was everybody in Love released on 30th october 2009.
What is the largest single source of the federal government revenue?
In the United States, it's Personal Income Tax.
