In total, about 59.9 percent of U.S. households paid income tax in 2022. The remaining 40.1 percent of households paid no individual income tax. In that same year, about 47.1 percent of U.S. households with an income between 40,000 and 50,000 U.S. dollars paid no individual income taxes.

In 2020, about ***** percent of total income taxes in the United States were paid by the top 50 percent of earners. In that same year, the top one percent of earners paid ***** percent of total income taxes in the country.

Graph and download economic data for U.S Individual Income Tax: Tax Rates for Regular Tax: Highest Bracket (IITTRHB) from 1913 to 2018 about individual, tax, income, rate, and USA.

Key information about US Tax revenue: % of GDP

• United States Tax revenue: % of GDP was reported at 16.6 % in Dec 2024.
• This records an increase from the previous number of 16.2 % for Dec 2023.
• US Tax revenue: % of GDP data is updated yearly, averaging 17.0 % from Dec 1968 to 2024, with 57 observations.
• The data reached an all-time high of 19.5 % in 2000 and a record low of 13.7 % in 2009.
• US Tax revenue: % of GDP data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Tax Revenue: % of Nominal GDP: Annual.

Graph and download economic data for Federal Receipts as Percent of Gross Domestic Product (FYFRGDA188S) from 1929 to 2024 about receipts, federal, GDP, and USA.

Graph and download economic data for National Totals of State and Local Tax Revenue: Total Taxes for the United States (QTAXTOTALQTAXCAT1USNO) from Q1 1992 to Q1 2025 about state & local, revenue, tax, government, and USA.

In the fiscal year of 2023, the state of California collected a total of 220.59 billion U.S. dollars in tax revenue, the highest of any state. New York collected the second highest amount of taxes in that year, coming in at 125.19 billion U.S. dollars.

Graph and download economic data for Real Median Personal Income in the United States (MEPAINUSA672N) from 1974 to 2023 about personal income, personal, median, income, real, and USA.

Release Date: 2024-02-08.The Census Bureau has reviewed this data product to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (2020 NES-D Project No. 7504866, Disclosure Review Board (DRB) approval number: CBDRB-FY24-0051; 2021 ABS approval number: CBDRB-FY23-0479)...Key Table Information:.Data in this table combines estimates from the Annual Business Survey (employer firms) and the Nonemployer Statistics by Demographics (nonemployer firms)...Includes U.S. firms with no paid employment or payroll, annual receipts of $1,000 or more ($1 or more in the construction industries) and filing Internal Revenue Service (IRS) tax forms for sole proprietorships (Form 1040, Schedule C), partnerships (Form 1065), or corporations (the Form 1120 series)...Includes U.S. employer firms estimates of business ownership by sex, ethnicity, race, and veteran status from the 2021 Annual Business Survey (ABS) collection. Data are also obtained from administrative records, the 2017 Economic Census, and other economic surveys...Note: For employer data only, the collection year is the year in which the data are collected. A reference year is the year that is referenced in the questions on the survey and in which the statistics are tabulated. For example, the 2021 ABS collection year produces statistics for the 2020 reference year. The "Year" column in the table is the reference year...Data Items and Other Identifying Records:.Data include estimates on:.Total number of employer and nonemployer firms. Total sales and receipts of employer and nonemployer firms (reported in $1,000 of dollars). Number of employer firms (firms with paid employees). Sales and receipts of employer firms (reported in $1,000s of dollars). Number of employees (during the March 12 pay period). Annual payroll of employer firms (reported in $1,000s of dollars). Number of nonemployer firms (firms without paid employees). Sales and receipts of nonemployer firms (reported in $1,000s of dollars)...These data are aggregated by the following demographic classifications of firm for:.All firms. Classifiable (firms classifiable by sex, ethnicity, race, and veteran status). . Sex. Female. Male. Equally male/female (50% / 50%). . Ethnicity. Hispanic. Equally Hispanic/non-Hispanic (50% / 50%). Non-Hispanic. . Race. White. Black or African American. American Indian and Alaska Native. Asian. Native Hawaiian and Other Pacific Islander. Minority (Firms classified as any race and ethnicity combination other than non-Hispanic and White). Equally minority/nonminority (50% / 50%). Nonminority (Firms classified as non-Hispanic and White). . Veteran Status (defined as having served in any branch of the U.S. Armed Forces). Veteran. Equally veteran/nonveteran (50% / 50%). Nonveteran. . . . Unclassifiable (firms not classifiable by sex, ethnicity, race, and veteran status). ...Data Notes:.. Business ownership is defined as having 51 percent or more of the stock or equity in the business. Data are provided for firms owned equally (50% / 50%) by men and women, by Hispanics and non-Hispanics, by minorities and nonminorities, and by veterans and nonveterans. Firms not classifiable by sex, ethnicity, race, and veteran status are counted and tabulated separately.. The detail may not add to the total or subtotal because a Hispanic firm may be of any race; because a firm could be tabulated in more than one racial group; or because the number of nonemployer firm's data are rounded.. Nonemployer data do not have standard error or relative standard error columns as these data are from the universe of nonemployer firms, not from a data sample....Industry and Geography Coverage:.Data are shown for the total for all sectors (00) and the 2-digit NAICS levels for the U.S., states and District of Columbia, and metro areas. Data are shown for the 3-digit and 4-digit NAICS for U.S. only. Nonemployer data are excluded for the following NAICS industries:.Crop and Animal Production (NAICS 111 and 112). Rail Transportation (NAICS 482). Postal Service (NAICS 491). Monetary Authorities-Central Bank (NAICS 521). Funds, Trusts, and Other Financial Vehicles (NAICS 525). Management of Companies and Enterprises (NAICS 55). Private Households (NAICS 814). Public Administration (NAICS 92). Industries Not Classified (NAICS 99)...For more information about NAICS, see NAICS Codes & Understanding Industry Classification Systems. For information about geographies used by economic programs at the Census Bureau, see Economic Census: Economic Geographies...Employer Data Footnotes:.Footnote 660 - Agriculture, forestry, fishing and hunting (Sector 11): Crop and Animal Production (NAICS 111 and ...

IntroductionThe National Institutes of Health (NIH) is the primary federal agency in the United States (US) that supports biomedical research, training, and clinical trials. NIH funding creates patents and jobs and thus helps the regional and national economy grow. Therefore, NIH funding would be expected to flow equitably to all 50 US states. However, there is a significant geographic disparity in the level of NIH funding received by various states. To that end, in 1993, authorized by Congress, NIH initiated a funding program called the Institutional Development Award (IDeA) to support states, called IDeA states, which received low levels of NIH funding. However, whether this approach has helped reduce the geographic disparity in NIH funding is unclear.MethodsIn the current study, we analyzed data on various NIH funding mechanisms awarded to 23 IDeA states vs. 27 non-IDeA states, as identified by NIH. We compared these data to the population size, federal taxes paid, and the number of PhDs and Post-doctoral Fellows(PDFs) trained in IDeA vs. non-IDeA states.ResultsThe non-IDeA states received 93.6% of the total NIH funding, whereas IDeA states received only 6.4%. On average, one Institutional Training Grant was received for every 24 PhDs trained in non-IDeA states, while IDeA states received one such grant for every 46 PhDs trained. The non-IDeA states comprised 84.3% of the US population, whereas IDeA states comprised 15.7%. Thus, on a per capita basis, non-IDeA states received $120 from NIH, whereas IDeA states received $45 per person. For every million dollars contributed by the non-IDeA states toward federal taxes, they received $7,903 in NIH funding, while the IDeA States received only $4,617. For FY 2022, the NIH funding created an economic activity of $90.6 Billion in non-IDeA states and only $6.3 billion in IDeA states. When total NIH funding to the states was analyzed for the years 1992, 2002, 2012, and 2022, IDeA states received 4.7% of the total NIH funding in 1992, which increased to 7.2% in 2002 but dropped to 6.8% in 2012 and 6.5% in 2022. This demonstrated that IDeA states’ share of NIH funding remained relatively unchanged for the past 20 years.DiscussionEliminating the geographic disparity in NIH funding is crucial for achieving equitable health outcomes across the US, and for the IDeA states to successfully train future generations of physicians and scientists, as well as grow the regional economy. Although the NIH IDeA programs have helped enhance the research capacity in IDeA states, the funding currently constitutes less than 1% of the total NIH budget. Thus, it is critical to increase NIH funding to IDeA states to improve health outcomes for all Americans.

This table provides information on the number of years in low income over an eight-year period among Canadian taxfilers. The years in low-income may or may not be adjacent to each other. The low income measure (LIM) is used to identify low income taxfilers. The LIM threshold is calculated as half of the median of the adjusted family after-tax income of all taxfilers and their family members. This table uses two different types of LIM: the variable LIM is based on the median total income re-calculated each year, while the fixed LIM is based on the median total income in 2002 adjusted yearly by the all-items Consumer Price Index.

Key Table Information.Table Title.Nonemployer Statistics by Demographics series (NES-D): Statistics for Employer and Nonemployer Firms by Industry and Race for the U.S., States, and Metro Areas: 2020.Table ID.ABSNESD2020.AB00MYNESD01C.Survey/Program.Economic Surveys.Year.2020.Dataset.ECNSVY Nonemployer Statistics by Demographics Company Summary.Source.U.S. Census Bureau, 2020 Economic Surveys, Nonemployer Statistics by Demographics.Release Date.2024-02-08.Release Schedule.The Nonemployer Statistics by Demographics (NES-D) is released yearly, beginning in 2017..Sponsor.National Center for Science and Engineering Statistics, U.S. National Science Foundation.Table Universe.Data in this table combines estimates from the Annual Business Survey (employer firms) and the Nonemployer Statistics by Demographics (nonemployer firms).Includes U.S. firms with no paid employment or payroll, annual receipts of $1,000 or more ($1 or more in the construction industries) and filing Internal Revenue Service (IRS) tax forms for sole proprietorships (Form 1040, Schedule C), partnerships (Form 1065), or corporations (the Form 1120 series).Includes U.S. employer firms estimates of business ownership by sex, ethnicity, race, and veteran status from the 2021 Annual Business Survey (ABS) collection. The employer business dataset universe consists of employer firms that are in operation for at least some part of the reference year, are located in one of the 50 U.S. states, associated offshore areas, or the District of Columbia, have paid employees and annual receipts of $1,000 or more, and are classified in one of nineteen in-scope sectors defined by the 2017 North American Industry Classification System (NAICS), except for NAICS 111, 112, 482, 491, 521, 525, 813, 814, and 92 which are not covered.Data are also obtained from administrative records and other economic surveys. Note: For employer data only, the collection year is the year in which the data are collected. A reference year is the year that is referenced in the questions on the survey and in which the statistics are tabulated. For example, the 2021 ABS collection year produces statistics for the 2020 reference year. The "Year" column in the table is the reference year..Methodology.Data Items and Other Identifying Records.Total number of employer and nonemployer firmsTotal sales, value of shipments, or revenue of employer and nonemployer firms ($1,000)Number of nonemployer firmsSales, value of shipments, or revenue of nonemployer firms ($1,000)Number of employer firmsSales, value of shipments, or revenue of employer firms ($1,000)Number of employeesAnnual payroll ($1,000)These data are aggregated by the following demographic classifications of firm for:All firms Classifiable (firms classifiable by sex, ethnicity, race, and veteran status) Race White Black or African American American Indian and Alaska Native Asian Native Hawaiian and Other Pacific Islander Minority (Firms classified as any race and ethnicity combination other than non-Hispanic and White) Equally minority/nonminority Nonminority (Firms classified as non-Hispanic and White) Unclassifiable (firms not classifiable by sex, ethnicity, race, and veteran status) Definitions can be found by clicking on the column header in the table or by accessing the Economic Census Glossary..Unit(s) of Observation.The reporting units for the NES-D and the ABS are companies or firms rather than establishments. A company or firm is comprised of one or more in-scope establishments that operate under the ownership or control of a single organization..Geography Coverage.The data are shown for the total of all sectors (00) and the 2-digit NAICS code levels for:United StatesStates and the District of ColumbiaMetropolitan Statistical AreasData are also shown for the 3- and 4-digit NAICS code for:United StatesStates and the District of ColumbiaFor information about geographies, see Geographies..Industry Coverage.The data are shown for the total of all sectors ("00"), and at the 2- through 4-digit NAICS code levels depending on geography. Sector "00" is not an official NAICS sector but is rather a way to indicate a total for multiple sectors. Note: Other programs outside of ABS may use sector 00 to indicate when multiple NAICS sectors are being displayed within the same table and/or dataset.The following are excluded from the total of all sectors:Crop and Animal Production (NAICS 111 and 112)Rail Transportation (NAICS 482)Postal Service (NAICS 491)Monetary Authorities-Central Bank (NAICS 521)Funds, Trusts, and Other Financial Vehicles (NAICS 525)Private Households (NAICS 814)Public Administration (NAICS 92)For information about NAICS, see North American Industry Classification System..Sampling.NES-D nonemployer data are not conducted through sampling. Nonemployer Statistics (NES) data originate from statistical information obtained through business income tax records that the Internal Revenue Service (IRS) provides to the Census Bureau...

The global Tax Planning Resources market is experiencing robust growth, driven by increasing complexities in tax regulations across various jurisdictions and the growing need for businesses of all sizes to optimize their tax liabilities. The market, estimated at $50 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033, reaching approximately $85 billion by the end of the forecast period. This expansion is fueled by several key factors, including the rising adoption of digital tax solutions, globalization of businesses leading to increased cross-border tax implications, and the increasing demand for specialized tax planning expertise from both individuals and corporations. The segment encompassing corporate tax planning is significantly larger than personal tax planning, reflecting the greater complexity and higher financial stakes involved in corporate tax strategies. Large enterprises currently dominate the market share, but the SME segment is projected to experience faster growth due to increasing awareness of tax optimization opportunities and the availability of affordable tax planning services. Geographic distribution shows North America and Europe currently holding the largest market shares, reflecting the established presence of major tax planning firms and the relatively developed regulatory environments. However, Asia-Pacific is expected to witness the highest growth rate in the forecast period, driven by rapid economic expansion and rising disposable incomes leading to increased demand for both personal and corporate tax planning services. Growth within the Tax Planning Resources market is further nuanced by several restraints. These include the high cost associated with engaging specialized tax professionals and sophisticated software solutions, the evolving regulatory landscape that requires continuous adaptation and expertise, and the risk of non-compliance despite employing advanced tax planning strategies. Nonetheless, the ongoing need for effective tax management and optimization will likely outweigh these challenges, ensuring sustained growth throughout the forecast period. The key players in this space, including established firms like EY and Moss Adams LLP, alongside niche players, are continually investing in innovation, technological advancements and talent acquisition to maintain a competitive edge in this ever-evolving market. The competitive landscape is characterized by a mix of large multinational firms offering comprehensive services and smaller specialized firms catering to specific niche segments or regions.

Bookkeeping Services Market Outlook

The global bookkeeping services market size is projected to grow from USD 50 billion in 2023 to USD 84 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period. The bookkeeping services market is experiencing robust growth driven by the increasing complexity of financial regulations, the rise of small and medium enterprises (SMEs), and the growing need for efficient financial management solutions across various sectors.

One of the primary growth factors in the bookkeeping services market is the increasing regulatory requirements that organizations must adhere to. As financial regulations become more stringent globally, businesses find themselves in need of specialized services to ensure compliance. This demand is particularly strong in industries such as healthcare, BFSI (Banking, Financial Services, and Insurance), and manufacturing, where regulatory frameworks are complex and constantly evolving. The rising demand for professional bookkeeping services helps organizations navigate these regulations more efficiently, thereby driving market growth.

Another significant growth driver is the proliferation of small and medium enterprises (SMEs). SMEs often lack the resources to maintain an in-house accounting department and therefore rely heavily on external bookkeeping services. The flexibility and cost-effectiveness of outsourcing bookkeeping functions allow these enterprises to focus on core business activities. This trend is particularly pronounced in regions with a high concentration of SMEs, such as Asia Pacific and Latin America, further fueling market expansion.

Technological advancements, particularly in cloud computing and automation, have also contributed significantly to the growth of the bookkeeping services market. Cloud-based bookkeeping solutions offer scalability, real-time data access, and enhanced data security, making them an attractive option for businesses of all sizes. Automation tools like AI and machine learning are being increasingly integrated into bookkeeping processes, reducing the scope for human error and increasing operational efficiency. These technological innovations are not only making bookkeeping services more efficient but also expanding their applicability across various industries.

Regionally, North America dominates the bookkeeping services market due to the presence of a large number of enterprises, high adoption of advanced technologies, and stringent regulatory requirements. Europe follows closely, with a significant market share driven by similar factors. The Asia Pacific region is expected to witness the highest growth rate during the forecast period, owing to the rapid economic development, increasing number of SMEs, and growing awareness about the benefits of professional bookkeeping services. Latin America and the Middle East & Africa also present substantial growth opportunities, albeit at a slower pace compared to other regions.

Service Type Analysis

The bookkeeping services market can be segmented by service type into payroll services, tax preparation services, financial reporting, account reconciliation, and others. Payroll services are a crucial aspect of bookkeeping that involves managing employee compensation, benefits, and taxes. This service type is in high demand due to the complexities involved in payroll management, especially in large organizations with diverse employee bases. The importance of compliance with labor laws and tax regulations further drives the demand for professional payroll services.

Tax preparation services constitute another significant segment in the bookkeeping services market. Businesses and individuals alike seek expert assistance in preparing and filing tax returns to ensure compliance with tax laws and to optimize tax liabilities. With tax codes becoming increasingly complex, the demand for specialized tax preparation services is on the rise. This segment is expected to witness substantial growth, particularly during tax seasons and in regions with complex tax regulations.

Financial reporting is an essential service that involves the preparation of financial statements, including balance sheets, income statements, and cash flow statements. Accurate financial reporting is critical for businesses to understand their financial health and make informed decisions. Regulatory requirements mandating periodic financial reporting further augment the demand for these services. This segment is particularly significant in publicly traded companies and industries like BFSI

Adding to national debt is an inevitable fact of being President of the United States. The extent to which debt rises under any sitting president depends not only on the policy and spending choices they have made, but also the choices made by presidents and congresses that have come before them. Ronald Reagan and George W. Bush President Ronald Reagan increased the U.S. debt by around **** trillion U.S. dollars, or ****** percent. This is often attributed to "Reaganomics," in which Reagan implemented significant supply-side economic policies in which he reduced government regulation, cut taxes, and tightened the money supply. Spending increased under President George W. Bush in light of the wars in Iraq and Afghanistan. To finance the wars, President Bush chose to borrow the money, rather than use war bonds or increase taxes, unlike previous war-time presidents. Additionally, Bush introduced a number of tax cuts, and oversaw the beginning of the 2008 financial crisis. Barack Obama President Obama inherited both wars in Iraq and Afghanistan, and the financial crisis. The Obama administration also did not increase taxes to pay for the wars, and additionally passed expensive legislation to kickstart the economy following the economic crash, as well as the Affordable Care Act in 2010. The ACA expanded healthcare coverage to cover more than ** million more Americans through programs like Medicare and Medicaid. Though controversial at the time, more than half of Americans have a favorable view of the ACA in 2023. Additionally, he signed legislation making the W. Bush-era tax cuts permanent.

Guyana was the South American country 20360the highest gross national income per capita, with 20,360 U.S. dollars per person in 2023. Uruguay ranked second, registering a GNI of 19,530 U.S. dollars per person, based on current prices. Gross national income (GNI) is the aggregated sum of the value added by residents in an economy, plus net taxes (minus subsidies) and net receipts of primary income from abroad. Which are the largest Latin American economies? Based on annual gross domestic product, which is the total amount of goods and services produced in a country per year, Brazil leads the regional ranking, followed by Mexico, Argentina, and Chile. Many Caribbean countries and territories hold the highest GDP per capita in this region, measurement that reflects how GDP would be divided if it was perfectly equally distributed among the population. GNI per capita is, however, a more exact calculation of wealth than GDP per capita, as it takes into consideration taxes paid and income receipts from abroad. How much inequality is there in Latin America? In many Latin American countries, more than half the total wealth created in their economies is held by the richest 20 percent of the population. When a small share of the population concentrates most of the wealth, millions of people don't have enough to make ends meet. For instance, in Brazil, about 5.32 percent of the population lives on less than 3.2 U.S. dollars per day.

Graph and download economic data for Income Before Taxes: Income Before Taxes by Deciles of Income Before Taxes: Fifth 10 Percent (41st to 50th Percentile) (CXUINCBEFTXLB1506M) from 2014 to 2023 about percentile, tax, income, and USA.

Graph and download economic data for Federal government current tax receipts (W006RC1Q027SBEA) from Q1 1947 to Q1 2025 about receipts, tax, federal, government, GDP, and USA.

Graph and download economic data for Income Before Taxes: Wages and Salaries by Deciles of Income Before Taxes: Fifth 10 Percent (41st to 50th Percentile) (CXU900000LB1506M) from 2014 to 2023 about percentile, salaries, tax, wages, income, and USA.