In the United States, state and local governments raise taxes separately from the Federal government. Which of the following describes a distinction between the sources of revenue for the different levels of government? Selected answer. a.The largest source of tax revenue for state and local governments is taxes on income while the largest source of tax revenue for the Federal government is taxes on internatal trade. b.The largest source of tax revenue for state and local governments is property taxes while the largest source of tax revenue for the Federal government is taxes on income, profits, and capital gains. c.The largest source of tax revenue for state and local governments is sales taxes while the largest source of tax revenue for the Federal government is taxes on income, profits, and capital gains. d.The largest source of tax revenue for state and local governments is corporate taxes while the largest source of tax revenue for the Federal government is taxes on property