Glossary

Current taxes and transfer payments to the rest of the world

Payments consisting of business current transfer payments to the rest of the world (net), plus nonresident taxes paid by domestic corporations to foreign governments.

Personal current taxes

Includes taxes paid by persons on income, including realized net capital gains, and on personal property.

Taxes from the rest of the world

Includes some taxes on production and some current transfers. The source data do not permit the reliable separation of the taxes on income.

Taxes on production and imports

Consists of Federal excise taxes and customs duties, state and local sales taxes, property taxes (including residential real estate taxes), motor vehicle licenses, severance taxes, and special assessments.