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Stocks are largely held by the families with the highest incomes. In 2019, the median value of stock holdings held by the top 10% of families by income was just under $400,000, compared with less than $1,000 for the bottom 20% of families by income.

Stocks are largely held by the families with the highest incomes. In 2019, the median value of stock holdings held by the top 10% of families by income was just under $400,000, compared with less than $1,000 for the bottom 20% of families by income.

June 27, 2022

The amount of employees' wages subject to unemployment insurance taxes vary by state, ranging from $7,000 in AZ, CA, FL, and TN to $62,500 in WA. The minimum and maximum applicable tax rates also vary.

The amount of employees' wages subject to unemployment insurance taxes vary by state, ranging from $7,000 in AZ, CA, FL, and TN to $62,500 in WA. Each state’s minimum and maximum tax rates also vary considerably.

June 20, 2022

The federal government spent $742 billion on national defense, or about 11% of total federal expenditures in FY 2021, compared to over 40% in the 1960s. Over time, more spending has been towards Social Security, Medicare, and Medicaid.

The federal government spent $742 billion on national defense, or about 11% of total federal expenditures in FY 2021, compared to over 40% in the 1960s. Over time, more spending has been towards Social Security, Medicare, and Medicaid.

June 13, 2022

In TY 2019, 6% of total individual income tax returns claimed the foreign tax credit. Among those with under $25,000 in adjusted gross income (AGI), only 0.6% claimed the credit, whereas 64% of those with AGI over $1 million claimed the foreign tax credit

The foreign tax credit prevents double-taxation of foreign-source income. In tax year 2019, only 6% of individual filers claimed the foreign tax credit, while 64% of taxpayers with adjusted gross income over $1 million claimed it.

June 6, 2022

Total tax revenue as a share of GDP was 26.2% across 38 OECD countries in FY 2020. The United States ranked 20th, with 25.5%.

Total tax revenue as a share of GDP was 26.2% across 38 OECD countries in FY 2020. The United States ranked 20th, with 25.5%.

May 30, 2022

In 2017, about 1.6 million returns were filed by active C-corporations, or that mostly paying the corporate income tax. Manufacturing businesses represented 5% of those returns, but paid nearly 30% of income tax after credits.

In 2017, about 1.6 million returns were filed by active C-corporations. Manufacturing businesses represented 5% of those returns, but paid nearly 30% of income tax after credits.

May 23, 2022

In FY 2020, federal estate and trust income tax collections totaled $33.7 billion, with 45% coming from Texas, New York, Nevada, Illinois, and Florida. Nevada’s share of the total (10%) was ten times its share of national population.

In FY 2020, federal estate and trust income tax collections totaled $33.7 billion, with 45% coming from Texas, New York, Nevada, Illinois, and Florida. Nevada’s share of the total (10%) was ten times its share of national population.

May 16, 2022

State and local governments spent $948 per capita on higher education in 2019, ranging from $563 in Florida to $1,565 in Delaware. These spending totals include both revenue from governments and student tuition payments.

State and local governments spent $948 per capita on higher education in 2019, ranging from $563 in Florida to $1,565 in Delaware. These spending totals include revenue from governments and student tuition payments.

May 9, 2022

Different tax revenues are gathered at different levels of government. For example, most property taxes are collected at the local level (96%) while most sales and gross taxes are collected at the state level (78%) and most individual taxes are collected

State governments and local governments rely upon a different mix of taxes for their revenues. In FY 2019, states relied more on sales taxes and individual income taxes, whereas localities mostly relied upon property taxes.

May 2, 2022

Per the US Census Bureau, state and local governments collected $28.9 billion from net lottery revenue in FY 2019. Six states did not have state lotteries; among those that did, revenue per capita ranged from Wyoming's $18 to Rhode Island's $387.

Per the US Census Bureau, state and local governments collected $28.9 billion from net lottery revenue in FY 2019. Six states did not have state lotteries; among those that did, revenue per capita ranged from Wyoming's $18 to Rhode Island's $387.

April 25, 2022

Corporate income tax revenues comprised 9% of total federal revenues in FY 2021, compared with over 50% from individual income tax revenues. Corporate income tax revenues last exceeded individual income tax revenues in 1943, during World War II.

Corporate income tax revenues constituted 9% of total federal revenues in FY 2021, compared with over 50% from individual income tax revenues. Corporate income tax revenues last exceeded individual income tax revenues in 1943, during World War II.

April 18, 2022

Local governments have become more reliant on sales and gross tax receipt taxes over time. Sales taxes comprised 7% of total local general revenue in 2019, up from 5% in 1977.

Local governments have become more reliant on general sales taxes and gross receipts taxes over time. These taxes comprised 7.4% of total local general revenue in 2019, up from 4.6% in 1977.

April 11, 2022

Federal excise tax receipts from tobacco products totaled $12.4 billion in 2020. In inflation-adjusted terms, tobacco excise tax receipts are at roughly the same level as in the 1940s.

Federal excise tax receipts from tobacco products totaled $12.4 billion in 2020. In inflation-adjusted terms, tobacco excise tax receipts are at roughly the same level as in the 1940s.

April 4, 2022

In 2020, among all OECD countries, share of total tax revenue from taxes on goods and services ranged from 17% in the U.S. to 55% in Chile. The U.S. does not have a federal value-added tax, unlike most OECD countries.

In 2020, among all OECD countries, share of total tax revenue from taxes on goods and services ranged from 17% in the U.S. to 55% in Chile. The U.S. does not have a federal value-added tax, unlike most OECD countries.

March 28, 2022

Between 1979 and 2018, the share of aggregate after-tax income of the top 1% of households grew significantly from 7.4% to 13.6%. In contrast, the shares for the bottom 90 percent of households declined.

Between 1979 and 2018, the share of aggregate after-tax income of the top 1% of households grew significantly from 7.4% to 13.6%. In contrast, the shares for the bottom 90 percent of households declined.

March 21, 2022