2014 State and Federal Petroleum Taxes for the US and New York

 The American Petroleum Institute (API) is the only national trade association that represents all aspects of America’s oil and natural gas industry. Our more than 600 corporate members, from the largest major oil company to the smallest of independents, come from all segments of the industry. They are producers, refiners, suppliers, pipeline operators and marine transporters, as well as service and supply companies that support all segments of the industry.




The American Petroleum Institute was established on March 20, 1919:

• to afford a means of cooperation with the government in all matters of national concern
• to foster foreign and domestic trade in American petroleum products
• to promote in general the interests of the petroleum industry in all its branches
• to promote the mutual improvement of its members and the study of the arts and sciences connected with the oil and natural gas industry. 

Recently I see that they have an interactive map on the API site of the US comparing gasoline taxes between states. A static version of the map appears below.

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 In addition, they provide a state breakdown if you click on any of the states on that map. Below is the NYS gas tax breakdowns.

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Part 2 of 2011 IRS Data by Zip Code: Salary and Wages, Itemized Deductions, Taxes Due, and Refunds

Salary and wages, itemized deductions, taxes due, and refunds by zip code by county.

Selected Herkimer County 2011 IRS Returns Data

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Selected Oneida County 2011 IRS Returns Data

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2011 IRS Returns By Herkimer and Oneida County Zip Codes

Previously I had posted countywide IRS data from the 2011 returns that were recently released. The data is also available by zip codes, Below are two tables with some of the basics from the IRS release. These tables over things like the number of returns, the type of returns and the number of dependents claimed.

A second post will follow with additional zip code level return data such as salary and wages, itemization, and refunds.

Selected Herkimer County 2011 IRS Returns Data

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Selected Oneida County 2011 IRS Returns Data

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More IRS Tax Data: County Level Information on AGI, Size of Refunds, and Itemization of Deductions

An earlier post provided information about the number of tax returns filed in 2011 for both counties, as well some insight into joint returns, paid preparer returns and the number of dependents and exemptions. Here is some additional information that covers items such as adjusted gross income (AGI), the size of refunds, average amount of taxes owed, itemization, and the number of returns from farms.

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Look for a future post showing many of these pieces by zip code.

2011 IRS Federal Tax Return Data Summaries for Herkimer and Oneida Counties

The Missouri State Census Data Center has recently released a tool for extracting IRS data from the 2011 IRS Returns. The returns data are aggregated summaries of U.S. federal tax returns (form 1040 et.al) for specific tax years and geographic areas. In this case, they are the 2011 returns and have been disaggregated into State, County and Zip Code geographies. Regional data has been downloaded for further analysis, but I wanted to offer the following sort of first cut look at some of the basics when it comes to those that filed taxes from either Herkimer or Oneida Counties.

Below is a table providing insight into the number of returns, whether they were filed jointly, were filed with a paid preparer, and the number of exemptions and dependents declared by filers. Each of these is broken out by 7 basic adjusted gross income (AGI) categories - those with no income, those between a $1 and $24,999, those from $25,000 to $49,999, those from $50,000 to $74,999, those from $75,000 to $99,999, those from $100,000 to $199,999, and those at $200,000 and above.

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As I get other data disaggregated I will post more in the coming days !

New Process to be in Place for New York State STAR Tax Exemption

The New York State School Tax Relief Program (more commonly known as the STAR Program), or New York State Real Property Tax Law §425, is a school tax rebate program offered in New York State aimed at reducing school district property taxes on the primary residences of New York residents. There are basically two types of STAR exemptions:

The Basic STAR program is available for owner-occupied, primary residences where the resident owners' and their spouses income is less than $500,000 and exempts the first $30,000 of the full value of a home from school taxes

The Enhanced STAR program provides an increased benefit for the primary residences of senior citizens (age 65 and older) with qualifying incomes and exempts the first $63,300 of the full value of a home from school taxes as of 2013-14 school tax bills (up from $62,200 in 2012-13). It is important to note that STAR exemptions apply only to school district taxes.

New legislation now requires all homeowners receiving a Basic STAR exemption to register with the New York State Tax Department in order to receive the exemption in 2014 and subsequent years.

Homeowners will not have to register in order to receive their 2013 STAR exemptions. Homeowners also will not have to re-register every year. Based on the information provided in the registration process, the Tax Department will monitor homeowners' eligibility in future years.

You can register for the STAR exemption online. You'll need to:

• provide a STAR code (they're mailing codes to all Basic STAR recipients; or you can use the STAR code lookup)
• provide the names and social security numbers for all owners of the property and spouses
• confirm that the property is the primary residence of one of its owners (married couples with multiple residences may only claim one STAR exemption)
• confirm that the combined income of the owners and their spouses who reside at the property does not exceed $500,000; and
• confirm that no resident owner received a residency-based tax benefit from another state.

Data on the percent of property valuation exemptions for counties in New York State can be found at the  New York State Statistical Yearbook put out by the Rockefeller Institute of Government. For example, the table below shows the equalized exempt value of exempted properties by county in New York. This includes a break out of wholly exempt as well as partially exempt properties.

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A Hundred Years of 1040 Tax Forms !

Today (April 15th) is Tax Day in America, the day by which we are required to have filed our federal income tax. While the first income tax actually occurred back during the Civil War as a way to fund the cost of battle, that practice was ended and replaced by various other taxes after the war ended. A hundred years ago (1913) the federal government introduced us to the 1040 tax form. This original "return of net income of individuals"  tax form was three pages long, with a fourth page containing the instructions. It doesn't appear to be any easier than some of the forms we have to file today !

To get a peek at what your great grandparents had to deal with when it came to the FIRST federal 1040 form, visit: http://www.taxanalysts.com/thp/1040forms.nsf/WebByYear/1913/$file/1040_1913.pdf

For Richer or Poorer: How States Fair In Federal Taxes and Benefits

The citizens and businesses in every state of the union of course pay federal taxes that ultimately get redistributed in many forms as government benefits. The table and graphic below, based on data regularly assembled by the nonpartisan Tax Foundation, convey a feel for the direction of these transfers. The data clearly identify which states have donor roles in this process (states in which the ratio is below $1.00) and recipient states (those that have a ratio in excess of $1.00).

Profile America: Tax Day 2012

The US Census Bureau has a daily update they call Profile America. It typically has a daily clip that gives a snap shot of the history, as well as current state, of some relevant daily topic. Being April 16th, or the day that federal taxes are due, today's clip deals with tax collection and preparation in the US. You can go here for the audio file, or read the transcript below for today's topic.

Profile America -- Monday, April 16th. Debate about income tax rates ebbs and flows through the years, but has been especially heated during this presidential election year. Federal income taxes have been around since 1913, when the 16th Amendment to the Constitution gave Congress the right to levy such taxes. The first year, fewer than 360,000 returns were filed. Now, some 142.5 million returns are submitted annually. For those who don't like to compute their own taxes, there are nearly 112,000 tax preparation offices around the nation. Of these, close to 87,000 are single person businesses. We spend nearly $7 billion a year to have our taxes prepared. You can find these and more facts about America from the U.S. Census Bureau online at www.census.gov.

For other clips, visit the Profile America page at the Census website.