Fiscal Facts | Tax Policy Center

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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

Corporate income tax collections by state

Nearly half of federal corporate income tax collections came from businesses with corporate headquarters located in just 6 states (CA, NY, TX, NJ, IL, and MN) in FY 2019.

March 8, 2021

State cigarette tax rates

State cigarette tax rates in 2021 range from Missouri's 17 cents per pack to DC's $4.50 per pack. The state tax rate is below $1 per pack in 13 states and above $3 per pack in 9 states and DC.

March 1, 2021

Child tax credit by income level

Nearly 40% of tax returns claiming the Child Tax Credit have incomes under $50,000, but their share of the total credit amount is under 20%, primarily due to the credit's work requirement and phase-in rules.

February 22, 2021

February 22, 2021