Fines, fees, and forfeitures are financial penalties imposed for violations of the law. State and local governments collected a combined $13 billion in revenue from fines, fees, and forfeitures in ...

T17-0153 - Repeal the Individual Alternative Minimum Tax (AMT), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2017 ...

Taxpayers who itemize deductions on their federal income tax returns can deduct state and local taxes--specifically property taxes plus either income taxes or general sales taxes. However, the Tax ...

The tax expenditure budget displays the estimated revenue losses from special exclusions, exemptions, deductions, credits, deferrals, and preferential tax rates in federal income tax law. Every year, ...

T22-0092 - Share of Federal Taxes - All Tax Units, By Expanded Cash Income Percentile, 2021 ...

Tax expenditures make up a substantial part of the federal budget. Some of them are larger than the entire budgets of the programs or departments that spend money for the same or related purposes. For ...

The US corporate income tax rate is now lower than the top rate in all other leading economies except for the United Kingdom. Corporate income tax revenues in the United States as a share of gross ...

General sales taxes are taxes on goods and services purchased by consumers, and the tax is a calculated as a percentage of the listed retail cost and added to the final purchase price paid by the ...

Although prohibited under federal law, 21 states allow and levy some type of excise tax on recreational cannabis purchases. But different states use different taxes—percentage-of-price taxes, ...

At current tax rates, the direct revenue loss from cutting tax rates almost always exceeds the indirect gain from increased activity or reduced tax avoidance. Cutting tax rates can, however, partly ...

Total US tax revenue equaled 27 percent of gross domestic product, well below the 34 percent weighted average for the other 37 OECD countries. US taxes are low relative to those in other high-income ...

The federal government distributes grants to states and localities for many purposes. Some grants are delivered directly to these governments, but others are “pass-through” grants that first go to ...