There has been considerable discussion about the corporate tax system in the U.S. and the IRS’s global reach in the media over the past year. The rash of corporate inversions was the catalyst for the public discussion of...
- Monday Map: Percentage of Taxpayers with AGI over $500,000
Monday Map: Percentage of Taxpayers with AGI over $500,000
A few months ago we published a map showing the percentage of filers in each state earning over $200,000. We used the $200,000 figure because of the way the IRS publishes income tax data by state - they don't subdivide their tax data further - and it was the closest figure to President Obama's proposal to let the Bush tax cuts expire for families making over $250K.
The Fiscal Cliff compromise that passed a few days ago uses a higher threshold for most of the expired tax cuts - $400,000 (for single filers) and $450,000 (for joint filers.) The nearest threshold it's possible to do a map of IRS data with is $500,000, so below, by state, is a map showing the percentage of tax returns with adjusted gross income (AGI) over $500,000.
Click on the map to enlarge it.
View previous Monday maps here.
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