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TAX GRAPHS Joseph W. Boucher. Top Marginal Federal Individual Income Tax Rate. Maximum Marginal Capital Gains Rate. Social Security and Medicare Tax. Federal Estate Tax Returns Retirement Plan Assets & Annuities; Charitable Deductions. - PowerPoint PPT Presentation
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04/19/2023 Joseph W. Boucher 1
TAX GRAPHSJoseph W. Boucher
04/19/2023 Joseph W. Boucher 2
Top Marginal Federal Individual Income Tax Rate
1940-1941
1942-1947
1948-1950
1951-19631964
1965-1967
1968-1969
1970-1981
1982-19861987
1988-1990
1991-1992
1993-20002001
2002
2003-20100%
10%20%30%40%50%60%70%80%90%
100%
04/19/2023 Joseph W. Boucher 3
Maximum Marginal Capital Gains Rate
19581960
19621964
19661968
19701972
19741976
19781980
19821984
19861988
19901992
19941996
19982000
20022004
20062008
20100%
5%
10%
15%
20%
25%
30%
35%
40%
45%
04/19/2023 Joseph W. Boucher 4
Social Security and Medicare Tax
1950 1960 1970 1980 1990 2000 2010$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
3% 6% 10% 12% 15% 15% 15%
Total TaxRate
04/19/2023 5
Federal Estate Tax ReturnsRetirement Plan Assets & Annuities; Charitable Deductions
TOTALS RETIREMENT PLANS/ ANNUITIES
CHARITABLE DEDUCTIONS
Year Filed
# of Returns
Gross Estates
(Millions)
# of Returns / %
Value (Millions) / %
# of Returns / %
Value (Millions) / %
2008 38,373 $228,872 24,071 / 63 $16,287 / 7.1 7,214 / 19 $28,372 / 12.4
2004 62,718 $192,635 36,733 / 59 $17,499 / 7.5 11,599 / 18 $14, 958 / 7.8
2001 108,112 $215,649 58,664 / 54 $18,398 / 8.5 18,711 / 17 $16,150 / 7.5
1998 97,856 $173,798 45,752 / 47 $12,039 / 6.9 16,982 / 17 $10,861 / 6.2
1995 69,772 $117,735 30,938 / 44 $6,632 / 5.6 13,063 / 19 $8,707 / 7.4
1992 59,176 $98,850 22,738 / 38 $4,095 / 4.1 11,053 / 19 $6,785 / 6.9
1989 45,695 $77,997 14,223 / 31 $2,309 / 3.0 8,471 / 19 $4,925 / 6.3
1986 45,125 $45,125 11,244 / 25 $1,350 / 2.3 7,835 / 17 $3,573 / 6.0
Source: http://www.irs.gov/taxstats/indtaxstats/article/0,,id=210646,00.htmlJoseph W. Boucher
04/19/2023 Joseph W. Boucher 6
Estate Tax Returns Filed in 2008: Estate Size & Charitable Deductions
Size of Gross Estate Gross Estate Charitable Deduction
# Returns Amount # Returns % returns Amount % estate
All Returns 38,373 228,872,169 7,214
19
28,372,041
12.4
Under $2.0 million 1,687 2,539,889 326
19.3
43,821
1.7
$2.0 million < $3.5 million 20,955 54,114,646 3,160
15
1,772,910
3.3
$3.5 million < $5.0 million 6,562 27,025,485 1,217
18.5
1,018,884
3.8
$5.0 million < $10.0 million 5,895 39,935,510 1,429
24.2
2,370,922
5.9
$10.0 million < $20.0 million 2,096 28,643,237 626
29.9
2,143,059
7.5
$20.0 million or more 1,178 76,613,401 457
38.8
21,022,446
27.4
Source: http://www.irs.gov/taxstats/indtaxstats/article/0,,id=210646,00.html
04/19/2023 7
Top Individual Income Tax Rate
19151920
19251930
19351940
19451950
19551960
19651970
19751980
19851990
19952000
20052010
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Tax Rate
Source: http://www.irs.gov/taxstats/article/0,,id=175910,00.html
Joseph W. Boucher
04/19/2023 Joseph W. Boucher 8
Top Corporate Income Tax Rate
19101915
19201925
19301935
19401945
19501955
19601965
19701975
19801985
19901995
20002005
20100%
10%
20%
30%
40%
50%
60%
Corporate Tax Rate
Source: http://www.irs.gov/taxstats/article/0,,id=115033,00.html
04/19/2023 Joseph W. Boucher 9
Effective Double Tax Rate
19101915
19201925
19301935
19401945
19501955
19601965
19701975
19801985
19901995
20002005
20100%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Corporate Tax Rate
Effective Double Tax Rate
Source: http://www.irs.gov/taxstats/article/0,,id=115033,00.html (Table 24); http://www.ctj.org/pdf/regcg.pdf
04/19/2023 Joseph W. Boucher 10
Top Net Capital Gains Tax Rate
19131918
19231928
19331938
19431948
19531958
19631968
19731978
19831988
19931998
20032008
20100%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Tax Rate
1918-1921 – Top Rate =
77%
2010 Rate = 15%
Source: http://www.taxfoundation.org/publications/show/2088.html
04/19/2023 11
S Corporation & Partnership Returns: 1997-2007
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 20070
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
S Corpora-tions
Source: http://www.irs.gov/taxstats/bustaxstats/article/0,,id=152029,00.htmlJoseph W. Boucher
04/19/2023 Joseph W. Boucher 12
S Corporations as a Percentage of all Corporations: 1986-2007
19861987
19881989
19901991
19921993
19941995
19961997
19981999
20002001
20022003
20042005
20062007
0%
10%
20%
30%
40%
50%
60%
70%
80%
Source: http://www.irs.gov/taxstats/bustaxstats/article/0,,id=152029,00.html