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United States

United States Tax Stats

Background:

The the vastness of the US consumer economy means that the national treasury enjoys the highest tax receipts on products in the world. Most recent statistics put it at $809 billion, ahead of Germany ($271 billion). However, by far the greatest percentage of total taxes is provided by personal income and profits, at almost 91%.

Definitions

  • Components of taxation > Goods and service tax: Goods and service tax as a percentage of total tax collected by the country. Data is for 2002.
  • Components of taxation > Social security > Employees contribution: Tax on employee's contribution of social security as a percentage of total tax collected by the country. Data is for 2002.
  • GDP > Current LCU: GDP (current LCU). GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current local currency.
  • GDP > Current US$: GDP (current US$). GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP growth > Annual %: GDP growth (annual %). Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2005 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.
  • Grants and other revenue > % of revenue: Grants and other revenue include grants from other foreign governments, international organisations, and other government units; interest; dividends; rent; requited, nonrepayable receipts for public purposes (such as fines, administrative fees, and entrepreneurial income from government owner\xADship of property); and voluntary, unrequited, nonrepayable receipts other than grants."
  • Grants and other revenue > Current LCU: Grants and other revenue include grants from other foreign governments, international organisations, and other government units; interest; dividends; rent; requited, nonrepayable receipts for public purposes (such as fines, administrative fees, and entrepreneurial income from government owner\xADship of property); and voluntary, unrequited, nonrepayable receipts other than grants."
  • Highest marginal tax rate > Corporate rate: Highest marginal tax rate (corporate rate) is the highest rate shown on the schedule of tax rates applied to the taxable income of corporations.
  • Highest marginal tax rate > Individual > On income exceeding > US$: Highest marginal tax rate (individual rate) is the highest rate shown on the schedule of tax rates applied to the taxable income of individuals. This series presents the income levels for individuals above which the highest marginal tax rates levied at the national level apply.
  • Highest marginal tax rate > Individual rate: Highest marginal tax rate (individual rate) is the highest rate shown on the schedule of tax rates applied to the taxable income of individuals.
  • Other taxes > Current LCU: Other taxes include employer payroll or labor taxes, taxes on property, and taxes not allocable to other categories, such as penalties for late payment or nonpayment of taxes."
  • Revenue > Excluding grants > Current LCU: Revenue is cash receipts from taxes, social contributions, and other revenues such as fines, fees, rent, and income from property or sales. Grants are also considered as revenue but are excluded here."
  • Social security contributions > Current LCU: Social contributions include social security contributions by employees, employers, and self-employed individuals, and other contributions whose source cannot be determined. They also include actual or imputed contributions to social insurance schemes operated by governments."
  • Taxes on goods and services including sales tax > % value added of industry and services: Taxes on goods and services include general sales and turnover or value added taxes, selective excises on goods, selective taxes on services, taxes on the use of goods or property, taxes on extraction and production of minerals, and profits of fiscal monopolies."
  • Taxes on income > Profits and capital gains including income tax > % of total taxes: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation."
STAT AMOUNT DATE RANK HISTORY
Components of taxation > Goods and service tax 17.6% 2002 30th out of 30
Components of taxation > Social security > Employees contribution 11.7% 2002 10th out of 30
GDP > Current LCU 16.24 trillion 2012 28th out of 185
GDP > Current US$ $16.24 trillion 2012 2nd out of 180
GDP growth > Annual % 2.78% 2012 105th out of 183
Grants and other revenue > % of revenue 5.14% 2009 5th out of 5
Grants and other revenue > Current LCU 116.63 billion 2009 1st out of 5
Highest marginal tax rate > Corporate rate 40% 2009 4th out of 108
Highest marginal tax rate > Individual > On income exceeding > US$ $372,950 2009 2nd out of 65
Highest marginal tax rate > Individual rate 35% 2009 35th out of 87
Other taxes > Current LCU 23.88 billion 2009 1st out of 5
Revenue > Excluding grants > Current LCU 2.27 trillion 2009 1st out of 5
Social security contributions > Current LCU 944.24 billion 2009 1st out of 3
Taxes on goods and services including sales tax > % value added of industry and services 0.51% 2007 83th out of 83
Taxes on income > Profits and capital gains including income tax > % of total taxes 90.15% 2009 1st out of 5

SOURCES: OECD Revenue Statistics; World Bank national accounts data; International Monetary Fund, Government Finance Statistics Yearbook and data files.; KPMG's Corporate and Indirect Tax Rate Survey 2009 (www.kpmg.com), and PricewaterhouseCoopers's Worldwide Tax Summaries Online (www.pwc.com).; KPMG's Individual Income Tax and Social Security Rate Survey 2009 (www.kpmg.com), and PricewaterhouseCoopers's Worldwide Tax Summaries Online (www.pwc.com).; International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD value added estimates.

Citation

"United States Tax Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/United-States/Economy/Tax

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