The Largest Source of Tax Revenue for State and Local

question 11

Multiple Choice

The largest source of tax revenue for state and local governments in the United States in 2010 was

• A)sales taxes.
• B)the corporate income tax.
• C)the property tax.
• D)the individual income tax.

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Definitions:

Driveway

A private road leading from a public way to a building on the adjoining land, primarily used for vehicle access.

Profit

The right to go onto someone’s land and take part of the land or a product of it away from the land.

Apples

A type of fruit that is grown worldwide and comes in various colors, such as red, green, and yellow, known for its sweet taste and nutritious value.

Option Contract

An agreement whereby the offeree gives the offeror a piece of consideration in exchange for the offeror’s agreement to hold the offer open for a specified period of time.