On July 14th, the IRS held a public hearing for the debt-equity rule (section 385 of the IRS code) that the Treasury Department proposed last April. The hearing, which had as many as 16 speakers from various industries,...
- Monday Map: State and Local Tax Deductions
Monday Map: State and Local Tax Deductions
Today's Monday Map focuses on the deduction of state and local income or sales taxes from federal taxable income. New York State benefits the most from this deduction - its residents deducted an average of 6.16% of their income in state taxes. Alaska benefits least, having neither an income tax nor a statewide sales tax; the small average of 0.26% most likely comes from local sales taxes.
Click on the map to enlarge it.
View previous Monday Maps here.
Get Email Updates from the Tax Foundation
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
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.