State and Local taxes
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general sales tax
a broad based tax collected on the retail price of most items
selective sales tax (excise)
a tax on certain items such as alcohol, tobacco, and gasoline, foreign products
state income tax
an income tax in the United States that is levied by each individual state. 5 states do not have one (TX)
corporate franchise tax
annual tax for corporations
(non tax revenues) user fees
park entrances, licenses
intergovernmental revenue
funds given by one level of government to another (TX #1 income 35%)
severance tax
tax on businesses that remove resources from the land(ex. timber, coal, gas, and oil)
property tax
tax on property (real estate)
