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JCT Estimates Distributional Effects of Camp Tax Reform Proposal

FEB. 26, 2014

JCX-21-14

DATED FEB. 26, 2014
DOCUMENT ATTRIBUTES
Citations: JCX-21-14

 

JOINT COMMITTEE ON TAXATION

 

 

February 26, 2014

 

 

JCX-21-14

 

 

        DISTRIBUTIONAL EFFECTS OF THE "TAX REFORM ACT OF 2014"1

 

 

                          Calendar Year 2015

 

 ______________________________________________________________________________

 

 

                                CHANGE IN                FEDERAL TAXES3 UNDER

 

                              FEDERAL TAXES3                 PRESENT LAW

 

                            __________________        _________________________

 

 INCOME

 

 CATEGORY2                  Millions   Percent        Billions        Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000        $102      1.5%            $6.8            0.2%

 

     $10,000 to $20,000         $62      1.3%            $4.8            0.2%

 

     $20,000 to $30,000     -$1,602     -5.1%           $31.6            1.1%

 

     $30,000 to $40,000     -$2,519     -4.6%           $54.9            1.9%

 

     $40,000 to $50,000     -$7,842     -8.8%           $88.8            3.1%

 

     $50,000 to $75,000     -$7,950     -3.2%          $247.8            8.7%

 

    $75,000 to $100,000    -$15,991     -5.6%          $283.1           10.0%

 

   $100,000 to $200,000     -$2,504     -0.3%          $820.8           28.9%

 

   $200,000 to $500,000      $1,149      0.2%          $553.8           19.5%

 

 $500,000 to $1,000,000      $2,505      1.3%          $194.4            6.9%

 

    $1,000,000 and over      $3,462      0.6%          $550.2           19.4%

 

   Total, All Taxpayers    -$31,126     -1.1%        $2,836.9          100.0%

 

 ______________________________________________________________________________

 

 

                           [table continued]

 

 ______________________________________________________________________________

 

 

                                                          Average Tax Rate4

 

                                                       ________________________

 

 

                                  FEDERAL TAXES3

 

                                  UNDER PROPOSAL       Present Law     Proposal

 

                              ______________________   ________________________

 

 INCOME

 

 CATEGORY2                    Billions       Percent   Percent         Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000          $6.9          0.2%      8.2%           8.3%

 

     $10,000 to $20,000          $4.9          0.2%      1.5%           1.5%

 

     $20,000 to $30,000         $30.0          1.1%      5.7%           5.4%

 

     $30,000 to $40,000         $52.4          1.9%      9.3%           8.9%

 

     $40,000 to $50,000         $80.9          2.9%     12.7%          11.6%

 

     $50,000 to $75,000        $239.8          8.5%     15.2%          14.7%

 

    $75,000 to $100,000        $267.1          9.5%     17.8%          16.8%

 

   $100,000 to $200,000        $818.3         29.2%     22.1%          22.0%

 

   $200,000 to $500,000        $555.0         19.8%     27.1%          27.2%

 

 $500,000 to $1,000,000        $196.9          7.0%     30.9%          31.1%

 

    $1,000,000 and over        $553.6         19.7%     33.0%          32.9%

 

   Total, All Taxpayers      $2,805.8        100.0%     21.0%          20.7%

 

 ______________________________________________________________________________

 

 Source: Joint Committee on Taxation

 

 

 Detail may not add to total due to rounding.

 

 

                               FOOTNOTES TO TABLE

 

 

      1 This distributional analysis includes the following

 

 provisions from revenue table JCX-20-14: (i) I. Tax Reform

 

 for Individual sections A, B, C.1., C4., D.1., D.2, E.1-E.7., E.9.-

 

 E.10., E.12.-E.13., E.15.-E.16., G.2, G.8., G.15.-G.16., G18.-G19.;

 

 (ii) II. Alternative Minimum Tax Repeal; (iii) III. Business

 

 Tax Reform; (iv) IV. Taxation of Foreign Income; (v) V.

 

 Tax Exempt Entities sections A.2.-A.8., C.3., D.1.;

 

 and (vi) VII. Excise Taxes sections 1., 2., 4.

 

 

      2 The income concept used to place tax returns into

 

 income categories is adjusted gross income (AGI) plus: [1]

 

 tax-exempt interest, [2] employer contributions for health plans and

 

 life insurance, [3] employer share of FICA tax, [4] worker's

 

 compensation, [5] nontaxable Social Security benefits, [6] insurance

 

 value of Medicare benefits, [7] alternative minimum tax preference

 

 items, [8] individual share of business taxes, and [9] excluded

 

 income of U.S. citizens living abroad. Categories are measured at

 

 2013 levels.

 

 

      3 Federal taxes are equal to individual income tax

 

 (including the outlay portion of refundable credits), employment tax

 

 (attributed to employees), excise taxes (attributed to consumers),

 

 and corporate income taxes. The estimates of Federal taxes are

 

 preliminary and subject to change. Individuals who are dependents of

 

 other taxpayers and taxpayers with negative income are excluded from

 

 the analysis. Does not include indirect effects.

 

 

      4 The average tax rate is equal to Federal taxes

 

 described in footnote (3) divided by income described in footnote

 

 (2).

 

 

                           END OF FOOTNOTES TO TABLE

 

 

    DISTRIBUTIONAL EFFECTS OF THE "TAX REFORM ACT OF 2014"1

 

 

                          Calendar Year 2017

 

 ______________________________________________________________________________

 

 

                                CHANGE IN                FEDERAL TAXES3 UNDER

 

                              FEDERAL TAXES3                 PRESENT LAW

 

                            __________________        _________________________

 

 INCOME

 

 CATEGORY2                  Millions   Percent        Billions        Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000          $4     -0.1%            $5.5            0.2%

 

     $10,000 to $20,000       -$103     -4.1%            $2.5            0.1%

 

     $20,000 to $30,000     -$1,217     -4.2%           $29.3            0.9%

 

     $30,000 to $40,000     -$2,233     -4.1%           $54.5            1.7%

 

     $40,000 to $50,000     -$9,133     -9.5%           $96.6            3.0%

 

     $50,000 to $75,000     -$6,925     -2.5%          $280.3            8.6%

 

    $75,000 to $100,000    -$17,641     -5.4%          $326.1           10.1%

 

   $100,000 to $200,000      $3,332      0.4%          $936.7           28.9%

 

   $200,000 to $500,000      $2,565      0.4%          $639.1           19.7%

 

 $500,000 to $1,000,000      $3,861      1.7%          $225.6            7.0%

 

    $1,000,000 and over      $3,083      0.5%          $645.1           19.9%

 

   Total, All Taxpayers    -$24,415     -0.8%        $3,241.2          100.0%

 

 ______________________________________________________________________________

 

 

                           [table continued]

 

 ______________________________________________________________________________

 

 

                                                          Average Tax Rate4

 

                                                       ________________________

 

 

                                  FEDERAL TAXES3

 

                                  UNDER PROPOSAL       Present Law     Proposal

 

                              ______________________   ________________________

 

 INCOME

 

 CATEGORY2                    Billions       Percent   Percent         Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000          $5.5          0.2%      5.9%           5.9%

 

     $10,000 to $20,000          $2.4          0.1%      0.7%           0.7%

 

     $20,000 to $30,000         $28.1          0.9%      4.9%           4.7%

 

     $30,000 to $40,000         $52.2          1.6%      8.5%           8.1%

 

     $40,000 to $50,000         $87.5          2.7%     12.2%          11.0%

 

     $50,000 to $75,000        $273.4          8.5%     15.2%          14.8%

 

    $75,000 to $100,000        $308.4          9.6%     18.1%          17.1%

 

   $100,000 to $200,000        $940.0         29.2%     22.5%          22.6%

 

   $200,000 to $500,000        $641.7         19.9%     27.6%          27.7%

 

 $500,000 to $1,000,000        $229.4          7.1%     31.0%          31.6%

 

    $1,000,000 and over        $648.2         20.1%     33.5%          33.5%

 

   Total, All Taxpayers      $3,216.7        100.0%     21.2%          21.0%

 

 ______________________________________________________________________________

 

 

 Source: Joint Committee on Taxation

 

 

 Detail may not add to total due to rounding.

 

 

                               FOOTNOTES TO TABLE

 

 

      1 This distributional analysis includes the following

 

 provisions from revenue table JCX-20-14: (i) I. Tax Reform for

 

 Individual sections A, B, C.1., C4., D.1., D.2, E.1-E.7., E.9.-E.10.,

 

 E.12.-E.13., E.15.-E.16., G.2, G.8., G.15.-G.16., G18.-G19.; (ii)

 

 II. Alternative Minimum Tax Repeal; (iii) III. Business Tax

 

 Reform; (iv) IV. Taxation of Foreign Income; (v) V.

 

 Tax Exempt Entities sections A.2.-A.8., C.3., D.1.; and (vi)

 

 VII. Excise Taxes sections 1., 2., 4.

 

 

      2 The income concept used to place tax returns into

 

 income categories is adjusted gross income (AGI) plus: [1] tax-

 

 exempt interest, [2] employer contributions for health plans and life

 

 insurance, [3] employer share of FICA tax, [4] worker's compensation,

 

 [5] nontaxable Social Security benefits, [6] insurance value of

 

 Medicare benefits, [7] alternative minimum tax preference

 

 items, [8] individual share of business taxes, and [9] excluded

 

 income of U.S. citizens living abroad. Categories are measured at

 

 2013 levels.

 

 

      3 Federal taxes are equal to individual income tax

 

 (including the outlay portion of refundable credits), employment tax

 

 (attributed to employees), excise taxes (attributed to consumers),

 

 and corporate income taxes. The estimates of Federal taxes are

 

 preliminary and subject to change. Individuals who are dependents of

 

 other taxpayers and taxpayers with negative income are excluded from

 

 the analysis. Does not include indirect effects.

 

 

      4 The average tax rate is equal to Federal taxes

 

 described in footnote (3) divided by income described in footnote

 

 (2).

 

 

                           END OF FOOTNOTES TO TABLE

 

 

      DISTRIBUTIONAL EFFECTS OF THE "TAX REFORM ACT OF 2014"1

 

 

                          Calendar Year 2019

 

 ______________________________________________________________________________

 

 

                                CHANGE IN                FEDERAL TAXES3 UNDER

 

                              FEDERAL TAXES3                 PRESENT LAW

 

                            __________________        _________________________

 

 INCOME

 

 CATEGORY2                  Millions   Percent        Billions        Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000       -$404     -5.7%            $7.1            0.2%

 

     $10,000 to $20,000     -$1,270    -17.4%            $7.3            0.2%

 

     $20,000 to $30,000     -$1,982     -5.9%           $33.7            0.9%

 

     $30,000 to $40,000     -$3,709     -6.3%           $58.5            1.6%

 

     $40,000 to $50,000    -$12,653    -11.6%          $108.9            3.0%

 

     $50,000 to $75,000    -$11,558     -3.7%          $314.2            8.8%

 

    $75,000 to $100,000    -$23,064     -6.4%          $360.5           10.0%

 

   $100,000 to $200,000     -$1,614     -0.2%        $1,040.5           29.0%

 

   $200,000 to $500,000        $182      0.0%          $703.1           19.6%

 

 $500,000 to $1,000,000      $6,771      2.8%          $243.8            6.8%

 

    $1,000,000 and over      $3,043      0.4%          $709.6           19.8%

 

   Total, All Taxpayers    -$46,258     -1.3%        $3,587.3          100.0%

 

 ______________________________________________________________________________

 

 

                           [table continued]

 

 ______________________________________________________________________________

 

 

                                                          Average Tax Rate4

 

                                                       ________________________

 

 

                                  FEDERAL TAXES3

 

                                  UNDER PROPOSAL       Present Law     Proposal

 

                              ______________________   ________________________

 

 INCOME

 

 CATEGORY2                    Billions       Percent   Percent         Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000          $6.7          0.2%      7.1%           6.6%

 

     $10,000 to $20,000          $6.0          0.2%      1.9%           1.6%

 

     $20,000 to $30,000         $31.7          0.9%      5.2%           4.9%

 

     $30,000 to $40,000         $54.8          1.5%      8.4%           7.9%

 

     $40,000 to $50,000         $96.3          2.7%     12.4%          10.9%

 

     $50,000 to $75,000        $302.7          8.5%     15.2%          14.7%

 

    $75,000 to $100,000        $337.4          9.5%     18.0%          16.9%

 

   $100,000 to $200,000      $1,038.9         29.3%     22.5%          22.5%

 

   $200,000 to $500,000        $703.3         19.9%     27.6%          27.5%

 

 $500,000 to $1,000,000        $250.6          7.1%     30.9%          31.4%

 

    $1,000,000 and over        $712.7         20.1%     33.4%          33.2%

 

   Total, All Taxpayers      $3,541.1        100.0%     21.3%          20.9%

 

 ______________________________________________________________________________

 

 

 Source: Joint Committee on Taxation

 

 

 Detail may not add to total due to rounding.

 

 

                               FOOTNOTES TO TABLE

 

 

      1 This distributional analysis includes the following

 

 provisions from revenue table JCX-20-14: (i) I. Tax Reform for

 

 Individual sections A, B, C.1., C4., D.1., D.2, E.1-E.7., E.9.-E.10.,

 

 E.12.-E.13., E.15.-E.16., G.2, G.8., G.15.-G.16., G18.-G19.; (ii)

 

 II. Alternative Mininum Tax Repeal; (iii) III. Business Tax Reform;

 

 (iv) IV. Taxation of Foreign Income; (v) V. Tax Exempt

 

 Entities sections A.2.-A.8., C.3., D.1.; and (vi) VII. Excise

 

 Taxes sections 1., 2., 4.

 

 

      2 The income concept used to place tax returns into

 

 income categories is adjusted gross income (AGI) plus: [1]

 

 tax-exempt interest, [2] employer contributions for health plans and

 

 life insurance, [3] employer share of FICA tax, [4] worker's

 

 compensation, [5] nontaxable Social Security benefits, [6] insurance

 

 value of Medicare benefits, [7] alternative minimum tax preference

 

 items, [8] individual share of business taxes, and [9] excluded

 

 income of U.S. citizens living abroad. Categories are measured at

 

 2013 levels.

 

 

      3 Federal taxes are equal to individual income tax

 

 (including the outlay portion of refundable credits), employment tax

 

 (attributed to employees), excise taxes (attributed to consumers),

 

 and corporate income taxes. The estimates of Federal taxes are

 

 preliminary and subject to change. Individuals who are dependents of

 

 other taxpayers and taxpayers with negative income are excluded from

 

 the analysis. Does not include indirect effects.

 

 

      4 The average tax rate is equal to Federal taxes

 

 described in footnote (3) divided by income described in footnote

 

 (2).

 

 

                           END OF FOOTNOTES TO TABLE

 

 

       DISTRIBUTIONAL EFFECTS OF THE "TAX REFORM ACT OF 2014"1

 

 

                          Calendar Year 2021

 

 ______________________________________________________________________________

 

 

                                CHANGE IN                FEDERAL TAXES3 UNDER

 

                              FEDERAL TAXES3                 PRESENT LAW

 

                            __________________        _________________________

 

 INCOME

 

 CATEGORY2                  Millions   Percent        Billions        Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000       -$339     -5.5%            $6.2            0.2%

 

     $10,000 to $20,000     -$1,247    -28.1%            $4.4            0.1%

 

     $20,000 to $30,000     -$1,744     -5.6%           $31.3            0.8%

 

     $30,000 to $40,000     -$4,239     -7.2%           $59.1            1.5%

 

     $40,000 to $50,000    -$13,640    -11.4%          $119.5            3.0%

 

     $50,000 to $75,000    -$11,271     -3.3%          $345.0            8.7%

 

    $75,000 to $100,000    -$23,841     -6.1%          $393.7           10.0%

 

   $100,000 to $200,000      $3,446      0.3%        $1,145.2           29.0%

 

   $200,000 to $500,000      $2,823      0.4%          $789.9           20.0%

 

 $500,000 to $1,000,000      $8,800      3.3%          $267.8            6.8%

 

    $1,000,000 and over      $4,552      0.6%          $782.8           19.8%

 

   Total, All Taxpayers    -$36,698     -0.9%        $3,944.9          100.0%

 

 ______________________________________________________________________________

 

 

                           [table continued]

 

 ______________________________________________________________________________

 

 

                                                          Average Tax Rate4

 

                                                       ________________________

 

 

                                  FEDERAL TAXES3

 

                                  UNDER PROPOSAL       Present Law     Proposal

 

                              ______________________   ________________________

 

 INCOME

 

 CATEGORY2                    Billions       Percent   Percent         Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000          $5.9          0.2%      5.7%           5.4%

 

     $10,000 to $20,000          $3.2          0.1%      1.1%           0.8%

 

     $20,000 to $30,000         $29.6          0.8%      4.6%           4.3%

 

     $30,000 to $40,000         $54.8          1.4%      8.0%           7.4%

 

     $40,000 to $50,000        $105.9          2.7%     12.2%          10.8%

 

     $50,000 to $75,000        $333.7          8.5%     15.1%          14.6%

 

    $75,000 to $100,000        $369.8          9.5%     17.8%          16.7%

 

   $100,000 to $200,000      $1,148.7         29.4%     22.4%          22.5%

 

   $200,000 to $500,000        $792.7         20.3%     27.7%          27.8%

 

 $500,000 to $1,000,000        $276.6          7.1%     30.8%          31.5%

 

    $1,000,000 and over        $787.3         20.1%     33.4%          33.3%

 

   Total, All Taxpayers      $3,908.2        100.0%     21.2%          21.0%

 

 ______________________________________________________________________________

 

 

 Source: Joint Committee on Taxation

 

 

 Detail may not add to total due to rounding.

 

 

                               FOOTNOTES TO TABLE

 

 

      1 This distributional analysis includes the following

 

 provisions from revenue table JCX-20-14: (i) I. Tax Reform for

 

 Individual sections A, B, C.1., C4., D.1., D.2, E.1-E.7., E.9.-E.10.,

 

 E.12.-E.13., E.15.-E.16., G.2, G.8., G.15.-G.16., G18.-G19.; (ii)

 

 II. Alternative Mininum Tax Repeal; (iii) III. Business Tax

 

 Reform; (iv) IV. Taxation of Foreign Income; (v) V. Tax

 

 Exempt Entities sections A.2.-A.8., C.3., D.1.; and (vi) VII.

 

 Excise Taxes sections 1., 2., 4.

 

 

      2 The income concept used to place tax returns into

 

 income categories is adjusted gross income (AGI) plus: [1]

 

 tax-exempt interest, [2] employer contributions for health plans and

 

 life insurance, [3] employer share of FICA tax, [4] worker's

 

 compensation, [5] nontaxable Social Security benefits, [6] insurance

 

 value of Medicare benefits, [7] alternative minimum tax preference

 

 items, [8] individual share of business taxes, and [9] excluded

 

 income of U.S. citizens living abroad. Categories are measured at

 

 2013 levels.

 

 

      3 Federal taxes are equal to individual income tax

 

 (including the outlay portion of refundable credits), employment tax

 

 (attributed to employees), excise taxes (attributed to consumers),

 

 and corporate income taxes. The estimates of Federal taxes are

 

 preliminary and subject to change. Individuals who are dependents of

 

 other taxpayers and taxpayers with negative income are excluded from

 

 the analysis. Does not include indirect effects.

 

 

      4 The average tax rate is equal to Federal taxes

 

 described in footnote (3) divided by income described in footnote

 

 (2).

 

 

                           END OF FOOTNOTES TO TABLE

 

 

   DISTRIBUTIONAL EFFECTS OF THE "TAX REFORM ACT OF 2014"1

 

 

                          Calendar Year 2023

 

 ______________________________________________________________________________

 

 

                                CHANGE IN                FEDERAL TAXES3 UNDER

 

                              FEDERAL TAXES3                 PRESENT LAW

 

                            __________________        _________________________

 

 INCOME

 

 CATEGORY2                  Millions   Percent        Billions        Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000       -$402     -7.6%            $5.3            0.1%

 

     $10,000 to $20,000       -$836    -49.9%            $1.7            0.0%

 

     $20,000 to $30,000     -$1,766     -5.8%           $30.4            0.7%

 

     $30,000 to $40,000     -$5,222     -8.4%           $62.2            1.4%

 

     $40,000 to $50,000    -$15,036    -11.2%          $133.7            3.1%

 

     $50,000 to $75,000    -$13,237     -3.5%          $380.5            8.8%

 

    $75,000 to $100,000    -$26,767     -6.1%          $436.3           10.1%

 

   $100,000 to $200,000        $374      0.0%        $1,270.4           29.3%

 

   $200,000 to $500,000     -$1,724     -0.2%          $870.6           20.1%

 

 $500,000 to $1,000,000      $6,911      2.4%          $288.6            6.7%

 

    $1,000,000 and over     -$4,143     -0.5%          $850.5           19.6%

 

   Total, All Taxpayers    -$61,845     -1.4%        $4,330.2          100.0%

 

 ______________________________________________________________________________

 

 

                           [table continued]

 

 ______________________________________________________________________________

 

 

                                                          Average Tax Rate4

 

                                                       ________________________

 

 

                                  FEDERAL TAXES3

 

                                  UNDER PROPOSAL       Present Law     Proposal

 

                              ______________________   ________________________

 

 INCOME

 

 CATEGORY2                    Billions       Percent   Percent         Percent

 

 ______________________________________________________________________________

 

 

      Less than $10,000          $4.9          0.1%      4.6%           4.3%

 

     $10,000 to $20,000          $0.8          0.0%      0.4%           0.2%

 

     $20,000 to $30,000         $28.7          0.7%      4.2%           3.9%

 

     $30,000 to $40,000         $56.9          1.3%      7.9%           7.2%

 

     $40,000 to $50,000        $118.7          2.8%     12.3%          10.9%

 

     $50,000 to $75,000        $367.3          8.6%     15.0%          14.5%

 

    $75,000 to $100,000        $409.6          9.6%     17.5%          16.4%

 

   $100,000 to $200,000      $1,270.7         29.8%     22.2%          22.2%

 

   $200,000 to $500,000        $868.9         20.4%     27.7%          27.6%

 

 $500,000 to $1,000,000        $295.5          6.9%     30.7%          31.2%

 

    $1,000,000 and over        $846.4         19.8%     33.4%          33.0%

 

   Total, All Taxpayers      $4,268.3        100.0%     21.1%          20.8%

 

 ______________________________________________________________________________

 

 

 Source: Joint Committee on Taxation

 

 

 Detail may not add to total due to rounding.

 

 

                               FOOTNOTES TO TABLE

 

 

      1 This distributional analysis includes the following

 

 provisions from revenue table JCX-20-14: (i) I. Tax Reform for

 

 Individual sections A, B, C.1., C4., D.1., D.2, E.1-E.7., E.9.-E.10.,

 

 E.12.-E.13., E.15.-E.16., G.2, G.8., G.15.-G.16., G18.-G19.;

 

 (ii) II. Alternative Mininum Tax Repeal; (iii) III. Business

 

 Tax Reform; (iv) IV. Taxation of Foreign Income; (v) V.

 

 Tax Exempt Entities sections A.2.-A.8., C.3., D.1.; and (vi)

 

 VII. Excise Taxes sections 1., 2., 4.

 

 

      2 The income concept used to place tax returns into

 

 income categories is adjusted gross income (AGI) plus: [1] tax-

 

 exempt interest, [2] employer contributions for health plans and life

 

 insurance, [3] employer share of FICA tax, [4] worker's compensation,

 

 [5] nontaxable Social Security benefits, [6] insurance value of

 

 Medicare benefits, [7] alternative minimum tax preference

 

 items, [8] individual share of business taxes, and [9] excluded

 

 income of U.S. citizens living abroad. Categories are measured at

 

 2013 levels.

 

 

      3 Federal taxes are equal to individual income tax

 

 (including the outlay portion of refundable credits), employment tax

 

 (attributed to employees), excise taxes (attributed to consumers),

 

 and corporate income taxes. The estimates of Federal taxes are

 

 preliminary and subject to change. Individuals who are dependents of

 

 other taxpayers and taxpayers with negative income are excluded from

 

 the analysis. Does not include indirect effects.

 

 

      4 The average tax rate is equal to Federal taxes

 

 described in footnote (3) divided by income described in footnote

 

 (2).

 

 

                           END OF FOOTNOTES TO TABLE
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