What is financial federalism
Fiscal federalism, financial relations between units of governments in a federal government system.
It is part of the broader public finance discipline.
Two things can be made out of the constitutional assignment between the centre and states..
What is the definition of a revenue
The basic revenue definition is the total amount of money brought in by a company’s operations, measured over a set amount of time. A business’s revenue is its gross income before subtracting any expenses. Profits and total earnings define revenue—it is the financial gain through sales and/or services rendered.
What are the three primary methods for cost allocation
There are three methods commonly used to allocate support costs: (1) the direct method; (2) the sequential (or step) method; and (3) the reciprocal method.
What is an example of revenue sharing
For example, revenue sharing is also used in reference to the Employee Retirement Income Security Act (ERISA) budget accounts between 401(k) providers and mutual funds. ERISA establishes standards and implements rules for fiduciaries–or investment companies–to follow in an effort to prevent misusing plan assets.
What are the three main sources of funds for the US federal government
The three main sources of federal tax revenue are individual income taxes, payroll taxes, and corporate income taxes; other sources include excise taxes, the estate tax, and other taxes and fees (see chart).
What is revenue allocation formula in Nigeria
Under the current revenue sharing formula, the federal government takes 52.68 percent, the states 26.72 percent and the local governments, 20.60 percent with 13 percent derivation revenue going to the oil producing states.
How does the federal government share revenue
Federal, state, and local governments depend on different sources of revenue to finance their annual expenditures. … For the federal government, 47 percent of 2013 revenue came from individual income taxes and 34 percent from payroll taxes, which combine Social Security tax and Medicare tax.
What is revenue allocation problem
This research work identified “The problems of revenue allocation in the local government” the information of the research revealed to the researcher that many factors are responsible to the problems of revenue allocation in local government e.g. Diversion, poor planning committee, population, political instability and …
How does federalism contribute to democracy
Federalism contributes to democracy by creating more opportunities for participation in politics and more access to government because of the multiple levels of government. … I think that federalism makes government more democratic because of the amount of access to government it provides people with.
What is vertical revenue allocation
A number of changes had occurred with respect to who has the right to revenues. … This revenue sharing is in the form of vertical allocation (i.e., along the federal, states, and the local governments) and horizontal allocation (i.e., within states or local governments).
What are the 5 major sources of revenue for the government
The rest comes from a mix of sources.TOTAL REVENUES. … INDIVIDUAL INCOME TAX. … CORPORATE INCOME TAX. … SOCIAL INSURANCE (PAYROLL) TAXES. … FEDERAL EXCISE TAXES. … OTHER REVENUES. … SHARES OF TOTAL REVENUE. … Updated May 2020.
What is the allocation amount
An allocation rate is a percentage of an investor’s cash or capital outlay that goes toward a final investment. The allocation rate most often refers to the amount of capital invested in a product net of any fees that may be incurred through the investment transaction.
What is revenue allocation formula
PIi= Revenue allocated to a county on the basis of Poverty Factor. … LAi= Revenue allocated to a county on the basis of Land Area Factor. FEi= Revenue allocated to a given county on the basis of Fiscal Effort. DFi= Revenue allocated to a given county on the basis of Development Factor.
How and why has federalism contributed to the growth of the national government
How and why has federalism contributed to the growth of the national government? Because Federalism means the movement away from state powers and towards one, central government, Federalism has greatly affected the growth of the national government. It has moved some powers towards the central government to grow it.
What are the three methods of departmental cost allocation
There are three methods for allocating service department costs: direct, sequential, and reciprocal. The first step of each method is to classify each organizational unit as either an operating or service department.
What is revenue allocation
Revenue allocation can be described as a method of sharing the centrally generated revenue among different tiers of government and how the amount allocated to a particular tier is shared among its components for economic development.
What are the allocation methods
There are three main disk space or file allocation methods.Contiguous Allocation.Linked Allocation.Indexed Allocation.
What is an example of regulated federalism
This is known as regulatory federalism. Mandate: a federal order imposed upon states. Examples: o Americans with Disabilities Act (governors and mayors don’t like because of costs to remodel) o Various environmental acts (e.g. Clean Air Act, Clean Water Act). o Individuals with Disabilities Education Act.
Which state is the highest paid allocation in Nigeria
Delta StateDelta State remains the biggest recipient of federal allocation with a total sum of N214.
What are the criteria for revenue allocation in Nigeria
On the horizontal sharing of revenue amongst the states, the Decree adopted the following criteria: minimum responsibility of government, 40 percent; population, 40 percent; social development factor, 15 percent; and internal revenue effort, 5 percent.