Which Tax Contributes the Least Revenue to the State of California

question 21

Multiple Choice

Which tax contributes the least revenue to the state of California?

• A) personal income tax
• B) sales tax
• C) corporate tax
• D) They contribute approximately equally.

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Definitions:

Principal's Identity

Information that discloses or specifies who the principal (the party for whom an agent acts) is in an agency relationship.

Legal Capacity

The ability of an individual or entity to enter into legally binding contracts, including the ability to sue and be sued, own property, and engage in other legal activities.

Unauthorized Acts

Actions taken by an individual or entity without legal or official approval, which may be illegal or against regulatory standards.

Undisclosed Principal

In agency law, a principal whom a third party lacks knowledge or the reason to know the principal’s existence and identity.