Fiscal Facts | Tax Policy Center

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Income from salary and wages by income level

Salaries and wages are the largest sources of income for most households. In 2018, they comprised 68% of total adjusted gross income across all individual income tax returns, but only 17% for those with incomes over $10 million.

June 21, 2021

Composition of federal revenues

In 2020, 47% of federal revenue came from individual income taxes and 38% from payroll taxes. Over time, the shares from corporate income taxes and excise taxes have declined.

June 14, 2021

Lottery revenue by state

State and local governments raised over $27 billion from net lottery revenue in 2018. Only Delaware, Rhode Island, and West Virginia raised over 2% of their general revenue from lotteries, while six states did not have any lotteries in 2018.

June 7, 2021

In 2019, five states (CT, MD, IL, NY, PA) and DC spent over 25% of their state motor fuel tax revenue on mass transit. Overall, 10% of revenue went towards mass transit, 27% for local roads, 51% for state highways, and 12% for other spending.

May 31, 2021

State gas tax rates

Missouri will increase its state gas tax rate for the first time in nearly 30 years starting October 2021. Currently, state gas tax rates range from 9 cents per gallon in Alaska to 58 cents per gallon in Pennsylvania.

May 24, 2021

American Opportunity Tax Credit by AGI

The American Opportunity Tax Credit (AOTC) can offset qualified higher education expenses for eligible students. In 2018, 4.8% of individual income taxpayers claimed the credit, with an average amount of $866 per claimant.

May 17, 2021

Unrealized capital gains over time by race or ethnicity

The average white household had $402,000 in unrealized capital gains in 2019, compared with $94,000 for Black households and $130,000 for Hispanic or Latino households. These disparities have generally widened over time.

May 10, 2021

Number of VITA/TCE returns filed annually

In FY 2019, 3.55 million federal tax returns were prepared at the IRS's VITA and TCE sites, or 2.3% of total individual income tax returns filed. Due to the pandemic’s in-person site closures, the FY 2020 numbers will likely show declines.

May 3, 2021

State corporate income tax rates

44 states and DC levy a corporate income tax, with top rates ranging from 2.5% in North Carolina to 9.99% in Pennsylvania. The average top tax rate on corporate income across states is 6.0% in 2021.

April 26, 2021

Income from partnerships and S-corporations

In 2018, income from partnership and S-corporation businesses comprised nearly a quarter of adjusted gross income (AGI) for those with AGI over $1 million, compared to 1% for those with AGI under $100,000.

April 19, 2021

Type of US businesses over time

Most US businesses are classified as pass-through businesses whose owners pay the individual income tax, not the corporate income tax. In 2017, pass-throughs comprised 96% of all business tax returns and 41% of business receipts.

April 12, 2021

State and local alcohol tax revenue by state

In 2018, state and local governments collected $7.5 billion from alcohol taxes, or $23 per capita across the nation. Alabama, Alaska, and Tennessee were the only states to collect over $50 per capita from alcohol taxes.

April 5, 2021

Distribution of net estate tax

For estate tax returns filed in 2019 (which cover deaths in prior years), over 80% of net tax revenue came from estates valued at over $20 million, while only 3% came from estates valued under $10 million.

March 29, 2021

For taxable estate tax returns filed in 2019 (which cover deaths in prior years), publicly traded stock and other business assets, including closely held stock and real estate, comprised nearly two-thirds of the total value of assets reported.

March 22, 2021

Standard versus itemized deduction by AGI

Nearly 90% of individual income taxpayers claim the standard deduction, rather than itemizing deductions. The share of itemizers varies largely by income, from 2% of those with incomes under $25,000 to 77% of those with incomes over $1 million.

March 15, 2021