Income Taxes

Source: Individual CAFRs
Latest Data: 2021
Release Timing: Following Year
Frequency: Annual

The income tax subcategory of revenues is the amount of revenue generated by the state's or city's individual and corporate income taxes. The amount of revenue generated by this tax depends on both the tax rate and the economic health of the state. For many states, the individual income tax accounts for a significant portion of the state's total revenue. These numbers are found on "The Statement of Activities" in each state's or city's Comprehensive Annual Financial Report (CAFR).

The U.S. Census Bureau defines individual income taxes as follows: "Individual income taxes – Taxes on individuals measured by net income and taxes distinctively imposed on special types of income (e.g., interest, dividends, income from intangibles, etc.)."