By the Numbers: Taxes

Here are some facts and figures about taxes.

23 cents

The amount New Jersey is hiking its gas tax for the first time since 1988 in order to fund its transportation trust, which pays for road, bridge and rail improvements. New Jersey residents had previously paid the second lowest gas tax rate in the country.

24

The percentage of U.S. gross domestic product that comes from total tax revenue. The global average for developed countries is 34 percent.

$10,162

The amount Republican Vice Presidential candidate Mike Pence and his wife received as a federal tax refund in 2015. His potential boss, Donald Trump, has yet to release his tax information.

9 million

Number of 2015 tax returns the IRS is still waiting for (as of Oct. 7, 2016).

26 million

The amount the Oregon Dept. of Revenue collected in the first six months of 2016 in marijuana taxes, far exceeding the state’s expectations. Eight states will have cannabis initiatives on their ballots next month – Arizona, expanding from current medical marijuana law to regulating recreational use; Arkansas has two marijuana reform items on its ballot, the Arkansas Medical Cannabis Act and a constitutional amendment for medical marijuana that places it under control of the state’s Alcoholic Beverage Control; California, a taxed and regulated system for recreational use; Florida, another medical marijuana bill after a similar bill in 2014 was narrowly defeated (by 2 percent of the vote); Maine, recreational use; Massachusetts, recreational use; Nevada, adding recreational use to its 16-year-old medical marijuana law.

Source: taxpolicycenter.org and various news sources