The state’s major non-tax revenue sources are federal income, fees and licenses, state health- related fees and rebates, state lottery proceeds, land income and proceeds from the state’s investments. Texas does not collect a state property tax.
What are the types of non-tax revenue?
Sources of Non Tax revenue of State Government
- Police services.
- Home guards.
- Electricity.
- Administrative services.
- Municipal services.
- Jobs through state public services boards.
- Sale of stationery.
- Gazettes.
What is a non tax source of revenue for states?
State utility companies and liquor stores are other sources of non-tax revenue. “Utility revenue” is money received by state-owned water, gas, electric and transit companies for sales of goods and services.
What is non-tax revenue give one example of it?
For example, when citizens use services offered by the government, they pay bills, which are categorised as non-tax revenue, as the government provides infrastructure support to implement the services. Non-tax revenue also includes the interest collected by the government on the loans or funds offered to states.
What is an example of non-tax revenue of the government?
Various services provided by the government — police and defence, social and community services such as medical services, and economic services such as power and railways — also yield revenue for the government.
Which of the following is not a type of non tax revenue?
The correct answer is Interest tax. It is made up of two words revenue and receipts. Any income that does not generate a liability is revenue. For example, if the Government borrows money from World Bank, it will increase its liabilities (because this money has to be paid back)- so cannot be called revenue.
What are the types of tax revenue?
Taxes collected from both direct tax and indirect tax are the government’s tax revenue. It includes collections from income tax, corporation tax, customs, wealth tax, tax on land revenue, etc. Income tax, wealth tax, corporation tax and property tax are some examples of direct tax.
What are the 3 main revenue sources?
Types of Revenues
- Revenue from goods sales or service fees: This is the core operating revenue account for most businesses, and it is usually given a specific name, such as sales revenue or service revenue.
- Interest revenue: This account records the interest earned on investments such as debt securities.
What is state revenue?
State revenue means state tax liability paid by a business entity or a business.
What are the non revenue objectives of taxation?
(1) Taxation can strengthen anemic enterprises or provide incentive to greater production through grant of tax exemptions or the creation of conditions conducive to their growth. (2) Taxes on imports may be increased to protect local industries against foreign competition or decreased to encourage foreign trade.
What is non income tax?
Non-Income Tax means any Tax other than U.S. federal income tax, income tax imposed by any state or subdivision of the U.S. and franchise tax (including the Texas Margin Tax), but including any property tax, severance tax, production tax or sales and use tax.
What do you mean by non-tax revenue explain the various sources of non-tax revenue?
A non-tax revenue re those receipts which arise from the source other than taxes. Different sources of non-tax revenue are: fees. fines. escheat.