2011   Financial Report of the United States Government

United States Government Supplemental Information (Unaudited) for the Years Ended September 30, 2011, and 2010

Tax Burden

The Internal Revenue Code provides for progressive tax rates, whereby higher incomes are generally subject to higher tax rates. The following tables present the latest available information on income tax and related income, deductions, and credit for individuals by income level and for corporations by size of assets.

Individual Income Tax Liability for Tax Year 2009
Adjusted Gross Income (AGI) Number of Taxable Returns
(In thousands)
AGI
(In millions of dollars)
Total Income Tax
(In millions of dollars)
Average AGI per Return
(In whole dollars)
Average Income Tax per Return
(In whole dollars)
Income Tax as a Percentage of AGI
Under $15,000 37,624 76,133 1,354 2,024 36 1.8%
$15,000 under $30,000 30,097 662,180 14,013 22,002 466 2.1%
$30,000 under $50,000 25,168 982,969 45,556 39,056 1,810 4.6%
$50,000 under $100,000 30,159 2,139,407 158,455 70,938 5,254 7.4%
$100,000 under $200,000 13,522 1,801,447 212,291 133,223 15,700 11.8%
$200,000 under $500,000 3,195 905,347 176,322 283,364 55,187 19.5%
$500,000 or more 729 1,058,948 257,958 1,452,604 353,852 24.4%
Total 140,494 7,626,431 865,949      

 

Corporation Income Tax Liability for Tax Year 2008
Total Assets
(In thousands of dollars
Income Subject to Tax
(In millions of dollars)
Total Income Tax after Credits
(In millions of dollars)
Percentage of Income Tax after Credits to Taxable Income
Zero assets 13,373 3,870 28.9%
$1 under $500 7,414 1,406 19.0%
$500 under $1,000 3,778 889 23.5%
$1,000 under $5,000 12,785 3,783 29.6%
$5,000 under $10,000 7,846 2,569 32.7%
$10,000 under $25,000 11,898 3,893 32.7%
$25,000 under $50,000 10,343 3,366 32.5%
$50,000 under $100,000 12,766 4,100 32.1%
$100,000 under $250,000 23,043 7,445 32.3%
$250,000 under $500,000 30,685 9,180 29.9%
$500,000 under $2,500,000 107,715 31,935 29.6%
$2,500,000 or more 736,507 156,087 21.2%
Total 978,153 228,523 23.4%


Last Updated:  February 16, 2012