Which One of These Represents the Biggest Source of the State's

question 63

Multiple Choice

Which one of these represents the biggest source of the state's annual revenues?

• A)taxpayers in the middle income and lower income tax brackets (combined)
• B)sales taxes
• C)property taxes
• D)the top 1% of taxpayers

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Definitions:

Consumer Lease

A contract in which a lessee (user) pays to use goods (like a vehicle) for a fixed period without obtaining ownership.

Common Law

A legal system based on court decisions and precedents rather than statutes.

Sales Contract

A legal agreement between a buyer and seller detailing the terms of sale for goods or services.

Statutory Law

The assortment of rules and regulations put forth by legislatures.