Examlex
Which of the following is NOT icy in composition?
Federal Income Tax
Federal income tax is a tax levied by the national government on individuals' and corporations' annual earnings, contributing to federal revenue.
Federal Budget Deficit
Occurs when a government spends more money than it receives from taxes and other revenues within a fiscal year.
Budget Deficits
Occurs when a government's expenditures surpass its revenues within a given fiscal period, necessitating borrowing or spending cuts.
Inheritance Tax
A tax imposed on individuals who inherit assets or property from a deceased person.
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