What are the sources of revenue for state and local governments?

(All sources of local government general revenue do not sum to 100 percent because of rounding.) How have the sources of revenue for state and local governments changed over …

CouponFollow Extension

$1
OFF

What Are The Sources Of Revenue For Local Governments? - Tax …

1 day from now

What are the sources of revenue for local governments? Local governments collected almost $1.5 trillion of general revenue in 2013. operty, sales, and other taxes totaled$608 billion, about 41 …

taxpolicycenter.org

FAQs about What are the sources of revenue for state and local governments? Coupon?

What are local general revenue sources?

Local general revenue sources include tax revenue (42 percent), intergovernmental grants from federal and state governments (37 percent), and charges and miscellaneous revenue (21 percent). ...

Where do state and local governments get their tax revenues?

Here, we provide an overview of where state and local governments together obtain their tax revenues (a subcategory of overall revenues). State and local governments tend to obtain the largest portion of tax revenues from property taxes and sales and gross receipts taxes. Another large source of revenue is individual income taxes. ...

Why do state and local governments rely on different sources of tax revenue?

Their reliance on various sources of tax revenue differs widely because they have different endowed resources and policy priorities. These differences are reflected in state-local tax collections no matter how large or small a fraction of the residents’ income state and local governments have decided to take in taxes. ...

What is the largest source of state and local tax revenue?

Property taxes are the largest source of combined state and local tax revenue in the United States, responsible for 32.2 percent of collections across all state and local tax jurisdictions in fiscal year 2020 (the most recent year for which data are available). ...

What is the main source of revenue for state governments?

The main source of revenue for state governments, however, was taxes on sales and gross receipts. In 2010, the states received just under half of their tax revenues from sales and gross receipts taxes. ...

What is a major source of tax revenue?

Another large source of revenue is individual income taxes. Figure 1 provides a breakdown of sources for total U.S. state and local tax revenues in fiscal year 2010—35 percent came from property taxes and 34 percent came from sales and gross receipts taxes. ...