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Our next tax trivia question is:
Beginning in the early 19th century, the US did not impose any direct taxes on income for nearly 50 years. Other than occasional excise taxes, what was biggest revenue raiser for the US during that time?
Don’t forget: the first correct answer wins free CCH tax prep software.
What’s your guess?
Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and speaker who explains tax news, IRS updates, scams, financial crime, and money in plain English.
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Sales tax on Liquer and tobacco
Nope, taxes on tobacco and liquor are considered excise taxes.
Tariffs on imported goods.
Revenue stamps.
Selling real estate.
Christopher, you win! The US sold public land to raise money.
Didn’t they have lotteries and other forms of gambling?