Transcription of Chapter 4. Revenue - Census.gov
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Chapter 4. Revenue - Census.gov
4-1 Chapter 4. Revenue Introduction This Chapter explains the concept of Revenue as it is used in the government finance statistics. This includes the concepts of governmental Revenue , Revenue transactions between governments, and funds of the same government. This Chapter also contains the complete definition of Revenue categories used in the classification system. Chapters 8 and 9 contain topics related to the structure and purpose of receipts for retirement and social insurance trust systems. Revenue Definition Revenue is defined as all amounts of money received by a government from external sources ( , those originating from outside the government ), net of refunds and other correcting transactions, proceeds from issuance of debt, the sale of investments, agency or private trust transactions, and intragovernmental transfers.
The government imposing a tax is the jurisdiction whose governing body adopts the legislation or ordinance specifying the type of tax, scope, and rate and requiring its payment. Generally, if another government collects a tax for the levying unit, then that government is considered to be acting as a collecting agent and is credited only with ...
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