The federal excise tax on gasoline is 18.4 cents per gallon, and has not increased since 1993. If the tax rate was adjusted for inflation since 1993, it would be 33 cents per gallon in 2020.
February 17, 2020
February 17, 2020
Virginia is considering its first increase in its statewide gasoline tax in 30+ years. Currently, state tax rates on gasoline range from 9 cents per gallon in Alaska to 58 cents per gallon in Pennsylvania.
February 10, 2020
February 10, 2020
State cigarette tax rates in 2020 range from Missouri's 17 cents per pack to DC's $4.50 per pack. The rate is below $1 per pack in 14 states and above $4 per pack in 3 states and DC.
February 3, 2020
February 3, 2020
The federal tax code subsidizes qualified research expenses for businesses. According to the Treasury, these tax credits will cost over $200 billion between 2019 and 2028.
January 27, 2020
January 27, 2020
47% of federal business tax collections (primarily corporate income tax receipts) came from businesses with corporate headquarters located in just 6 states (CA, NY, TX, NJ, IL, and MN) in FY 2018.
January 20, 2020
January 20, 2020
The federal unemployment insurance trust fund is financed by federal and state taxes assessed on employers. Revenues last peaked in 2012 as states repaid loans made to state unemployment programs during the Great Recession.
January 13, 2020
January 13, 2020
Income from partnerships and S corporations (which are called "pass-through" businesses) was over 20% of adjusted gross income (AGI) for taxpayers with AGI over $1 million in 2017, compared to 1% for those with AGI under $100,000.
January 6, 2020
January 6, 2020
Salaries and wages are the largest sources of income for most households. In 2017, they were almost 70% of aggregate adjusted gross income (AGI) for all individual income tax returns, but less than 20% for those taxpayers with AGI over $10 million.
December 30, 2019
December 30, 2019
Capital gains are a significant source of income primarily for high-income households. In 2017, capital gains were almost half of aggregate adjusted gross income (AGI) for those with AGI over $10 million, compared to less than 1% for those with AGI under $100,000.
December 23, 2019
December 23, 2019
Total tax revenue (including federal, state, and local taxes) as a share of GDP was 24% for the US in 2018, having declined after the 2017 tax law changes. The US ranked 33rd out of 36 OECD countries, and below all other G7 countries.
December 16, 2019
December 16, 2019
48% of all individual income tax returns filed for tax year 2017 were by single filers, 36% by those married filing jointly and surviving spouses, 14% by heads of households, and 2% by those married but filing separately.
December 9, 2019
December 9, 2019
Payroll tax revenues as a share of GDP increased steadily for four decades as the tax rates and base increased, but then leveled off after 1988 at around 6.5 percent of GDP. Since 2000, the share has declined, reaching 5.8 percent of GDP in 2018.
December 2, 2019
December 2, 2019
The tax code subsidizes education costs through various credits, deductions, and exclusions, with these tax expenditures totaling $32 billion in 2019. The largest is the American Opportunity Tax Credit for higher education expenses.
November 25, 2019
November 25, 2019
The Highway Trust Fund is funded by selected excise taxes. The tax rates on motor fuels, the biggest revenue source, have not increased since 1993. In recent years, transfers from the General Fund have sustained trust fund spending.
November 18, 2019
November 18, 2019
Total federal tax revenues equaled 16.5% of the GDP in 2018. Tax revenues have generally fluctuated between 15% to 20% of GDP over the last 65 years.
