In 2023, state gas tax rates averaged 30 cents per gallon. Rates were lowest in Alaska (9 cents) and Hawaii (16 cents), and highest in Pennsylvania (58 cents) and California (63 cents).
March 6, 2023
March 6, 2023
In 2019, 77% of White families had unrealized capital gains, compared with 47% of Black families, 49% of Hispanic or Latino families, and 62% of all other families. Amounts also varied significantly within each group.
February 27, 2023
February 27, 2023
After-tax incomes are less unequally distributed than before-tax incomes. In 2019, the top 1% of households had 15.9% of before-tax and 13% of after-tax income, while the lowest quintile had 5.2% of before-tax and 7.7% of after tax-income.
February 20, 2023
February 20, 2023
As of January 2023, state excise taxes on beer ranged from 2 cents per gallon in WY to $1.29 per gallon in TN. Purchasing a six-pack of beer costs about 71 cents more in excise taxes in TN compared with WY.
February 13, 2023
February 13, 2023
The state-level hourly minimum wage for most non-tipped employees is equal to the federal rate of $7.25 in 20 states. Massachusetts ($15), California ($15.50), Washington ($15.74), and the District of Columbia ($16.50) have the highest minimum wages.
February 6, 2023
February 6, 2023
Across OECD countries in 2020, GDP per capita ranged from $15,700 in Colombia to $118,000 in Luxembourg. The United States ranked fourth, with $63,000.
January 30, 2023
January 30, 2023
Unemployment benefits follow the economy. Due to the COVID-19 pandemic, unemployment benefits as a share of total reported salaries and wages rose to 4.8%, significantly higher than in the prior 20 years.
January 23, 2023
January 23, 2023
The Foreign Tax Credit is claimed by those paying income taxes to a foreign country and subject to U.S. tax on the same income. In 2020, 6% of individual income tax returns claimed the credit, including over 61% of those with adjusted gross incomes over $1 million.
January 16, 2023
January 16, 2023
State and local governments collected $26.7 billion from net lottery revenue in FY 2020. Five states did not have state lotteries; among those that did, lottery revenue per capita ranged from North Dakota's $14 to Rhode Island's $249.
January 9, 2023
January 9, 2023
On taxable estate tax returns filed in 2021 (which cover deaths in prior years), publicly traded stock comprised 30% of the total value of assets reported.
January 2, 2023
January 2, 2023
In 2019, 10.8% of federal tax returns claimed the SALT deduction nationwide, ranging from 4.0% of total tax returns in West Virginia to 23.1% in Maryland.
December 26, 2022
December 26, 2022
Assets reported on the tax returns of active corporations totaled $115 trillion in tax year 2019. Over the last 20 years, adjusted for inflation, their value has grown 25%.
December 19, 2022
December 19, 2022
Income from capital gains made up about 7% of aggregate adjusted gross income (AGI) in 2019, but this varied by income level. For those with AGI over $1 million, capital gains accounted for 31% of their income.
December 12, 2022
December 12, 2022
In tax year 2019, about $110 billion was claimed in state and local property tax deductions, primarily by higher-income tax filers. Those with over $100,000 in adjusted gross income claimed 75% of the amount of deductions.
December 5, 2022
December 5, 2022
Between 1977 and 2020, the composition of local general revenue stayed relatively stable. Notably, federal and state aid as well as property tax revenue declined, whereas revenue from charges (nontax payments for specific government services) increased.