As part of his new tax plan, the president has proposed ending the “step-up” in tax basis for inherited assets, and, furthermore, requiring the capital gains tax to be paid at death rather than when an heir later sells...
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- Federal Income Tax Burden Now Available by County, Congre...
Federal Income Tax Burden Now Available by County, Congressional District, and MSA
As part of our continuing effort to illustrate the regional burdens of taxes, we have posted three more datasets relating to federal income taxes. We used IRS zip code-level data to estimate what each county, congressional district, and major city area pay in federal individual income taxes.
As with the AMT, the highest paying area is around New York City. Manhattan tops the list of counties, while New York's 14th congressional district, represented by Carolyn Maloney (D), is number one in terms of congressional districts. Maloney's district ranked second in the percentage of tax returns that were hit by AMT, as seen in the data released here last week.
Below are links for all three new datasets:
Later this spring, the Tax Foundation will release a Special Report ranking the total federal tax burden paid inside each of these three geographic units. The report will include federal payroll taxes (i.e. Social Security), federal corporate income taxes, and federal excise taxes, in addition to the federal individual income tax numbers provided here.
See related Fiscal Fact here.
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The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.