Revenue Sharing Us History Definition

Laws determine the formulas by which revenue is.

Revenue sharing us history definition. For example provinces or states may share revenue with local governments or national governments may share revenue with provinces or states. Revenue sharing a government unit s apportioning of part of its tax income to other units of government. Revenue sharing is a type of fiscal federalism whereby the federal government allocates revenue to state and local governments with little or no strings attached. Revenue sharing form of federal monetary aid under which congress gave a share of federal tax revenue with virtually no restrictions to the states cities counties and townships.

In some cases however the receiving government may be required to match the amount granted. Revenue sharing definition is the dispensing of a portion of federal tax revenue to state and local governments to assist in meeting their monetary needs. Source for information on revenue sharing. Revenue sharing is a somewhat flexible concept that involves sharing operating profits or losses among associated financial actors.

State and local governments could spend their federal dollars however they saw fit within certain limitations. Chapter 24 21 terms. Alternatively revenue sharing may indicate any arrangement where a company gives a portion of its profits to its employees or other companies in an alliance. For example a partnership shares revenue between partners in accordance with each one s share in the company.

The practice of splitting a company s profits and losses between parties. The following diagram describes common revenue sharing arrangements for commission based plans. Us history chapter 24 29 terms. Unlike categorical grants that are program specific revenue sharing provides flexibility to subnational political jurisdictions in using federal funds tailored to their special needs.

Us history chapter 24 section 1 the nixon administration 10 terms. The amount of revenue shared is determined by law. Dictionary of american history dictionary. Generally the governments that receive the monies are free from any stipulations about or controls on how to use them.