May 04th 2022
How much interchange was paid on sales tax in the US in 2021?
Over 6 billion dollars was paid on sales tax in 2021 across the U.S., how did that differ by state?
Interchange Paid on Sales Tax
Methodology:
We have taken the sales tax data from (Source 1) to show total sales tax paid by state, and then using public financial reports from Visa and Mastercard, ascertained the total volume through debit and credit cards, which have been split by state by GDP (Source 2). Total interchange fees charged on credit vs debit cards have been analyzed from the Nilson Report on card fees.