Which is the single largest source of tax revenue for the state of Texas?
A) income
B) sales
C) property
D) gasoline
E) various taxes on the energy industry

Question

Quizplus · Accepted Answer

Sales tax is the single largest source of tax revenue for the state of Texas, accounting for approximately 58% of its tax revenue in 2019. This is because Texas has a high sales tax rate of 6.25%, which is combined with local sales taxes that can bring the total sales tax rate to over 8% in some areas. Additionally, Texas does not have a state income tax, which further emphasizes the importance of sales tax as a revenue source.

Which Is the Single Largest Source of Tax Revenue for the State