Which of these is not a source of state and local tax revenue?
payroll taxes
property taxes
sales taxes
income taxes
D?
All of these are sources of state and local tax revenue. Most states have income taxes, making D a wrong answer.
according to my research it is C. i hope i help someone.
The answer is A, payroll taxes. I chose C at first, and got the question wrong.
That is what I thought it was(A).
thx i hope yall r correct im taking the assesment today
Yes, income taxes is not a source of state and local tax revenue.
To figure out the correct answer, you can analyze each option and determine if it is a source of state and local tax revenue:
1. Payroll taxes: Payroll taxes are levied on the wages and salaries of employees and are typically used to fund social security and Medicare. They are a source of state and local tax revenue, so it is not the correct answer.
2. Property taxes: Property taxes are based on the assessed value of real estate properties and are a significant source of revenue for state and local governments. Therefore, property taxes are indeed a source of state and local tax revenue and are not the correct answer.
3. Sales taxes: Sales taxes are taxes added to the purchase price of goods and services and are typically collected by retailers. They are a common source of state and local tax revenue. Thus, sales taxes are not the correct answer.
4. Income taxes: Income taxes are taxes imposed on individuals and businesses based on their income or profits. While income taxes are mostly collected at the federal level, only a few states levy income taxes at the state level. Therefore, income taxes are not a significant source of state and local tax revenue, making it the correct answer to the question.
Based on this analysis, we can conclude that income taxes are not a source of state and local tax revenue.