Question of the Day

Which of the following taxes accounts for the greatest share of federal government revenues?

Correct Answer

Tell Me More

In the federal government's 2014 fiscal year, individual income taxes comprised 46% of federal revenues, and the rest was comprised of social insurance taxes (34%), corporate income taxes (11%), excise taxes (3%), custom duties (1%), estate and gift taxes (0.6%), and miscellaneous receipts (4%).

DocumentationSources of Federal Revenues