Course Solutions Uncategorized (Answered) : Which of the following statements about federal government finances is not correct? The federal government levies no general

(Answered) : Which of the following statements about federal government finances is not correct? The federal government levies no general

June 27, 2024June 27, 2024| adminadmin| 0 Comment| 7:35 pm
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Which of the following statements about federal government finances is not correct?

The federal government levies no general sales tax.

The federal government levies three general types of income taxes.

The corporate income tax is the second largest source of total revenue for the federal government.

None of the above.

Expert Answer

The statement which is not correct about the federal goverment finance is the corporate income tax is the second largest source of total revenue for the federal goverment as because payroll taxes are still the second largest source of total revenue for the federal goverment.

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