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Sources of Revenue

Power Point Lesson on Funding Sources of Revenue for Public Education

Sales Tax a tax, usually paid by the consumer at the point of purchase, itemized separately from the base price, for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale
Use Tax a type of excise tax levied in the United States. Assessed upon "tax free" tangible personal property purchased by a resident of the assessing state for use,consumption of goods in that state (not for resale), regardless of where the purchase took place.
Cigarette Tax A tax applied to a specific product used by consumers. (Frquently referred as a "sin" tax)
Liquor Tax A tax applied to a specific product used by consumers. (Frquently referred as a "sin" tax)
Real Estate Transfer Tax a tax on the sale, granting, and transfer of real property or an interest in real property.
State Education Tax property be assessed at 6 mills as part of summer property taxes
State Personal Income an individual’s total earnings from wages, investment interest, and other sources.
State Casino Gaming Tax A wagering tax is imposed on the adjusted gross receipts received by the licensee from gaming authorized under this act at the rate of 18%
State Lottery Profits Profits garnered from public lotteries
Taxes on Certain Properties A tax upon commercial forests, tech park facilities, enterprise zones, mobile home trailer coaches
Created by: JWeston
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