Which of the Following Is Not a Primary Revenue Source

question 137

Multiple Choice

Which of the following is not a primary revenue source for most states?

• A)Income or franchise taxes
• B)Sales or use taxes
• C)Severance taxes
• D)Property taxes

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Definitions:

Sales Tax

A tax imposed by governments on the sale of goods and services.

Sales Tax Rate

The percentage of sales price that is added to the sales price of goods and services, collected by sellers.

Sales Tax Rate

The percentage added to the sale price of goods and services, collected by retailers and forwarded to the government.

Sales Tax

A tax levied by a government on the sale of goods and services, collected by the retailer and passed on to the government.