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The new dictionary of cultural literacy third edition copyright 2005 by houghton mifflin harcourt publishing company.
Revenue sharing definition government. Definition of revenue sharing. A transfer of tax revenue from one unit of government such as the federal government to other units such as state governments. Revenue sharing is the distribution of revenue that is the total amount of income generated by the sale of goods and services among the stakeholders or contributors. Revenue sharing a government unit s apportioning of part of its tax income to other units of government.
The dispensing of a portion of federal tax revenue to state and local governments to assist in meeting their monetary needs.
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