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The following chart depicts the annual revenues, by type of tax, for the state of Georgia. The chart was developed using Kids Zone, a NCES, project. Their website is: nces.ed.gov/nceskids/createagraph/.
a. What percentage of the state revenue is accounted for by sales tax and individual income tax?
b. Which category will generate more revenue, corporate taxes or license fees?
c. The total annual revenue for the state of Georgia is $6.3 billion. Estimate the amount of revenue in billions of dollars for sales taxes and for individual taxes.
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The net effect of this arrangement is a reduction in their income tax liability - Will Carol and Jared''s plan work? Explain
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