|
Older Citizens Pay Less State and Local Tax as a Percentage of Their Total Income |
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|
|
Under 25 |
25 to 34 |
35 to 44 |
45 to 54 |
55 to 64 |
65 and older |
|
Money income before taxes |
$18,856 |
$37,946 |
$47,356 |
$53,131 |
$43,770 |
$24,451 |
|
Federal income taxes |
562 |
1,997 |
2,725 |
3,445 |
2,166 |
573 |
|
State and local income taxes |
123 |
371 |
508 |
585 |
416 |
58 |
|
Other taxes |
14 |
47 |
125 |
185 |
225 |
209 |
|
Source: Average annual expenditures and characteristics, South, by Age Group, Consumer Expenditure Survey, 1998-1999. Note: Money income before taxes is the total money earnings and selected money receipts during the 12 months prior to the interview date for the consumer expenditure survey. It includes the following components: wages and salaries; self-employment income; Social Security, private and government retirement; interest, dividends, rental income, and other property income; unemployment and workers' compensation and veterans' benefits; public assistance, supplemental security income, and food stamps; regular contributions for support; and other income. Federal income taxes includes federal income taxes withheld in survey year to pay for income earned in survey year plus additional taxes paid in survey year to cover any underpayment or underwithholding of taxes in the year prior to the survey. State and local income taxes includes state and local income taxes withheld in survey year to pay for income earned in survey year plus additional taxes paid in survey year to cover any underpayment or underwithholding of taxes in year prior to survey. Other taxes includes personal property and other personal taxes paid, including Social Security taxes for the self-employed paid in the survey year to cover any underpayment or underwithholding of taxes in the year prior to the survey. Refer to http://www.bls.gov/cex/csxgloss.htm for additional information. |
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