Quantcast

Prairie State Wire

Thursday, November 14, 2024

Illinois ranks fourth in the U.S. for the most death and gift taxes paid in 2022

Adobestock 298161024

Adobe Stock

Adobe Stock

In 2022, Illinois collected $641,815,000 in death and gift taxes, ranking it fourth in the United States, according to the U.S. Census Bureau's Annual Survey of State Government Tax Collections (STC).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau cautions it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

U.S. death and gift taxes by State in 2022
RankStateAmount
1Pennsylvania$1,502,404,000
2New York$1,417,294,000
3Massachusetts$868,444,000
4Illinois$641,815,000
5New Jersey$599,428,000
6Washington$371,246,000
7Oregon$350,592,000
8Maryland$265,493,000
9Minnesota$212,421,000
10Connecticut$199,409,000
11Iowa$91,826,000
12Kentucky$82,953,000
13Hawaii$57,405,000
14Rhode Island$35,700,000
15Maine$34,183,000
16Vermont$13,997,000
17Tennessee$640,000
18North Carolina$213,000
19California$64,000
20Ohio$58,000
21Missouri$49,000
22Virginia$29,000
23Indiana$25,000
24Michigan$6,000
25Delaware$4,000
26Wisconsin$3,000
27Oklahoma$1,000
Source: U.S. Census Bureau

MORE NEWS