Income and Consumption Taxes

Income and Consumption Taxes

In this assignment, you will explore the importance of income and consumption taxes for local governments. In Lee County Florida, for example, the state collects a 6% sales tax. However, 1% is remitted back to the local governments, primarily the county.

Select a state and research its income and sales tax using the Argosy University online library resources, the state’s Web site, and other Internet resources.
Respond to the following:
• Are income taxes and sales taxes directly correlated to the current state and local economy? If so, explain how they are correlated.
• What is the sales tax rate in the state?
• How much of this tax goes to the state government and how much is remitted back to the local government?

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