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Estimated Government Revenue for FY2014



In 2014 the governments in the United States are expected to collect about 33 percent of Gross Domestic Product in revenue. The federal government will collect about 173 percent of GDP, the states will collect about 9.3 percent of GDP, and local governments about 6.4 percent of GDP.

Government Revenue: Federal, State, Local

Governments in the US will collect $5.7 trillion in 2014.

Table 3.01: Total Revenue in 2014

In fiscal 2014 the federal government estimates revenue will be $3.0 trillion. State revenue for 2014 is "guesstimated" by usgovernmentrevenue.com at $1.6 trillion and local government revenue is "guesstimated" by usgovernmentrevenue.com at $1.1 trillion.

Total revenue at all levels of government in the United States is "guesstimated" by usgovernmentrevenue.com to be $5.4 trillion in 2014.

Government Revenue: the Sources

The governments in the US collect about $3.2 trillion in a year income and payroll taxes.

Table 3.02: Total Revenue Breakdown FY 2014

Income tax is where governments collect the most tax: federal, state, and local, they will collect about $2.2 trillion in 2014. Next in line are social insurance taxes, including Social Security, unemployment and hospital taxes, will add up to $1.5 trillion. Ad-valorem taxes, i.e. sales taxes and property taxes: governments will collect about $1.2 trillion in 2014. Fees and Charges will add up to $0.4 trillion, and Business and Other Revenue will add up to $0.5 trillion in 2014.

These revenue estimates are based on projections in the federal budget for federal revenue and on "guesstimates" of state and local revenue by usgovernmentrevenue.com



Government Revenue: the Details

Government revenue is collected at all levels of government: federal, state, and local.

Table 3.03: Total Revenue Details FY 2014

At 52 percent, the federal government collects a little over half of total government revenue, with states collecting 38 percent and local governments 19 percent. Overwhelmingly, the federal tax take is collected as income taxes and social insurance payroll taxes. State governments balance their take between income taxes, ad-valorem taxes and other forms of revenue. Local governments collect revenue from ad-valorem taxes such as property taxes and sales taxes.

Government Revenue: the Piecharts

The source of government revenue is mostly income tax for the federal government, and mostly ad-valorem taxes at the local level.

Chart 3.04: Total Revenue Pie

Total government revenue in the United States, including federal, state, and local governments, is expected to total $5.7 trillion in 2014. The total features five major sources. The largest share is incomes taxes, at 38 percent of total revenue; social insurance at 26 percent of total revenue; ad-valorem taxes, at 21 percent of revenue; business revenue, at 8 percent of total revenue; and fees and charges, at 8 percent of total revenue.

Pie Chart of Federal Government Revenue

Chart 3.05: Federal Revenue Pie

Federal revenue is budgeted at $3.0 trillion for FY 2014. Almost all revenue comes from income taxes, individual and corporate, at 57 percent of total federal revenue; and social insurance taxes, at 34 percent of total federal revenue.

Pie Chart of State Government Revenue

Chart 3.06: State Revenue Pie

State government revenue, as "guesstimated" by usgovernmentrevenue.com, will total about $1.6 trillion in FY 2014, and is balanced between five major sources. The largest revenue source is ad-valorem taxes, property and sales taxes, at 30 percent of total state revenue. Social insurance taxes, including income from state employee retirement systems, amount to 25 percent of state revenue. State income taxes amount to 24 percent of total state revenue; fees and charges amount to 10 percent of total state revenue; state business revenue comes in at 9 percent of revenue.

Pie Chart of Local Government Revenue

Chart 3.07: Local Revenue Pie

Local government revenue, as "guesstimated" by usgovernmentrevenue.com, will total about $1.1 trillion in FY 2014, and is dominated by ad-valorem taxes amounting to 48 percent of total local government revenue. Fees and changes amount to 25 percent of local revenue; business revenue amounts to 19 percent of total local revenue. The remaining revenue is 8 percent of total local revenue.

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Revenue Data Sources

Revenue data is from official government sources.
  Federal data since 1962 comes from the president’s budget.
  All other revenue data comes from the US Census Bureau.

Gross Domestic Product data comes from US Bureau of Economic Analysis and measuringworth.com.

Detailed table of revenue data sources here.

Federal revenue data begins in 1792.

State and local revenue data begins in 1890.

State and local revenue data for individual states begins in 1957.

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Next Data Update

> Fed Rev. by State FY13

> data update schedule.

Data Sources for 2014:

GDP: Fed. Budget: Hist. Table 10.1
Federal: Fed. Budget: Hist. Tables 2.1, 2.4, 2.5, 7.1
State and Local: State and Local Gov. Finances
Guesstimated” by projecting the latest change in reported revenue forward to future years

> data sources for other years
> data update schedule.

Federal Revenue by State for 2013

On April 6, 2014, we updated usgovernmentspending.com with the numbers from "SOI Tax Stats - Gross Collections, by Type of Tax and State, Fiscal Year - IRS Data Book Table 5" of the IRS Data Book for 2013.  The data can be viewed on the Federal Revenue by State page here.

Tax links

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