State and Local Taxes

Citizens pay taxes to be able to benefit from the programs and products that all three levels of government provide.

• True

• False

This type of tax is imposed on assets.

• Property Taxes

• Sales Taxes

• Excise Taxes

These taxes are taxes imposed as a percentage of firms’ sales and are generally imposed on retail sales

• Property Taxes

• Sales Taxes

• Excise Taxes

These taxes are imposed on specific items.

• Property Taxes

• Sales Taxes

• Excise Taxes

Excise taxes are justified as a way of encouraging the consumption of demerit goods, such as cigarettes and alcoholic beverages.

• True

• False

The most important excise tax in the United States is the ____ tax imposed on workers’ earnings

• Earnings

• Income

• Payroll

The proceeds of this excise on payrolls finance Social Security and (a)   benefits

The main revenue sources for state and local governments are ____ ____, _____ ____, and ______ passed along from the federal government

• Salex Taxes

• Property Taxes

• Revenue

• All of the above

Some states may receive up to __% of their funding from intergovernmental revenues

• 10%

• 20%

• 30%

• 50%

The largest portion of state and local monies come from the ____ _____

• User Fees

• Payroll Taxes

• Property Tax

• Sales Tax