Tableau Dashboard Activity 17-02: Projecting the TCJA Impact on the State Tax Deduction (Static) Projecting the TCJA Impact on the State Tax Deduction The Tax Cuts and Jobs Act (TCJA) made significant changes to several aress of the tox code including the limitetion placed on the State Tax Deduction. On its website, the IRS publishes dats deteiling the itemized deductions claimed for a given year by state. The most recently published year available is 2017 , prior to the enactment of the TCJA. To project the impoct of the TCJA on the State Tox Deduction, you have created the following Toblesu visualization, which uses the following assumptions and calculations: - Aversge Tax Rate: divides Income Tox Before Credits by Taxsble Income Amount - State Tax Deduction: sums State and local income taxes amount, Real estate taxes amount, and Personal property taxes amount 1. The State and local general sales tox amount was excluded from this analysis - State Tax Deduction * ATR: multiplies the State Tax Deduction by the Average Tax Rate - Impect divides the State Tax Deduction * ATR by the Income Tox Before Credits - Ranked lmpact: orders the States from most impocted to least impscted (1-51) Mouse over the visualization to reveal specific amounts for use in answering the following questions. Adjust the sliders on the visual to determine proper responses. Projecting the TCJA Impact on the State Tax Deduction - Part 1 (Static) Required: a. What are the top 5 states where residents of those states are most likely to have been the impacted as a result of the passage of the TCJA limitation on State Tax deductions? b. What are the bottom 5 states where residents of those states are most likely the least impacted as a result of the passage of the TCJA limitation on State Tax deductions? c. What is the percentage impact for Florida? d. What is the average tax rate for taxpayers in Illinois? Complete this question by entering your answers in the tabs below. What are the top 5 states where residents of those states are most likely to have been the impacted as a result of the passage of the TCJA limitation on State Tax deductions? (Check All That Apply) Projecting the TCJA Impact on the State Tax Deduction - Part 1 (Static) Required: a. What are the top 5 states where residents of those states are most likely to have been the impacted as a result of the passage of the TCJA limitation on State Tax deductions? b. What are the bottom 5 states where residents of those states are most likely the least impacted as a result of the passage of the TCJA IImitation on State Tax deductions? c. What is the percentage impact for Florida? d. What is the average tax rate for taxpayers in Illinois? Complete this question by entering your answers in the tabs below. What are the bottom 5 states where residents of those states are most likely the least impacted as a result of the passage of the TCJA limitation on State Tax deductions? (Check All That Apply) Projecting the TCJA Impact on the State Tax Deduction - Part 1 (Static) Required: a. What are the top 5 states where residents of those states are most likely to have been the impacted as a result of the passage o the TCJA limitation on State Tax deductions? b. What are the bottom 5 states where residents of those states are most likely the least Impacted as a result of the passage of the TCJA IImitation on State Tax deductions? c. What is the percentage impact for Florida? d. What is the average tax rate for taxpayers in Illinois? Complete this question by entering your answers in the tabs below. What is the percentage impact for Florida? (Enter your answer as a percentage rounded to two decimal places (i.e., 0.1234 should be entered as "12.34")) Projecting the TCJA Impact on the State Tax Deduction - Part 1 (Static) Required: a. What are the top 5 states where residents of those states are most likely to have been the Impacted as a result of the passage of the TCJA limitation on State Tax deductions? b. What are the bottom 5 states where residents of those states are most likely the least impacted as a result of the passage of the TCJA IImitation on State Tax deductions? c. What is the percentage Impact for Florida? d. What is the average tax rate for taxpayers in Illinois? Complete this question by entering your answers in the tabs below. What is the average tax rate for taxpayers in Illinois? (Enter your answer as a percentage rounded to two decimal places (i.e., 0.1234 should be entered as "12.34")) Tableau Dashboard Activity 17-02: Projecting the TCJA Impact on the State Tax Deduction (Static) Projecting the TCJA Impact on the State Tax Deduction The Tax Cuts and Jobs Act (TCJA) made significant changes to several aress of the tox code including the limitetion placed on the State Tax Deduction. On its website, the IRS publishes dats deteiling the itemized deductions claimed for a given year by state. The most recently published year available is 2017 , prior to the enactment of the TCJA. To project the impoct of the TCJA on the State Tox Deduction, you have created the following Toblesu visualization, which uses the following assumptions and calculations: - Aversge Tax Rate: divides Income Tox Before Credits by Taxsble Income Amount - State Tax Deduction: sums State and local income taxes amount, Real estate taxes amount, and Personal property taxes amount 1. The State and local general sales tox amount was excluded from this analysis - State Tax Deduction * ATR: multiplies the State Tax Deduction by the Average Tax Rate - Impect divides the State Tax Deduction * ATR by the Income Tox Before Credits - Ranked lmpact: orders the States from most impocted to least impscted (1-51) Mouse over the visualization to reveal specific amounts for use in answering the following questions. Adjust the sliders on the visual to determine proper responses. Projecting the TCJA Impact on the State Tax Deduction - Part 1 (Static) Required: a. What are the top 5 states where residents of those states are most likely to have been the impacted as a result of the passage of the TCJA limitation on State Tax deductions? b. What are the bottom 5 states where residents of those states are most likely the least impacted as a result of the passage of the TCJA limitation on State Tax deductions? c. What is the percentage impact for Florida? d. What is the average tax rate for taxpayers in Illinois? Complete this question by entering your answers in the tabs below. What are the top 5 states where residents of those states are most likely to have been the impacted as a result of the passage of the TCJA limitation on State Tax deductions? (Check All That Apply) Projecting the TCJA Impact on the State Tax Deduction - Part 1 (Static) Required: a. What are the top 5 states where residents of those states are most likely to have been the impacted as a result of the passage of the TCJA limitation on State Tax deductions? b. What are the bottom 5 states where residents of those states are most likely the least impacted as a result of the passage of the TCJA IImitation on State Tax deductions? c. What is the percentage impact for Florida? d. What is the average tax rate for taxpayers in Illinois? Complete this question by entering your answers in the tabs below. What are the bottom 5 states where residents of those states are most likely the least impacted as a result of the passage of the TCJA limitation on State Tax deductions? (Check All That Apply) Projecting the TCJA Impact on the State Tax Deduction - Part 1 (Static) Required: a. What are the top 5 states where residents of those states are most likely to have been the impacted as a result of the passage o the TCJA limitation on State Tax deductions? b. What are the bottom 5 states where residents of those states are most likely the least Impacted as a result of the passage of the TCJA IImitation on State Tax deductions? c. What is the percentage impact for Florida? d. What is the average tax rate for taxpayers in Illinois? Complete this question by entering your answers in the tabs below. What is the percentage impact for Florida? (Enter your answer as a percentage rounded to two decimal places (i.e., 0.1234 should be entered as "12.34")) Projecting the TCJA Impact on the State Tax Deduction - Part 1 (Static) Required: a. What are the top 5 states where residents of those states are most likely to have been the Impacted as a result of the passage of the TCJA limitation on State Tax deductions? b. What are the bottom 5 states where residents of those states are most likely the least impacted as a result of the passage of the TCJA IImitation on State Tax deductions? c. What is the percentage Impact for Florida? d. What is the average tax rate for taxpayers in Illinois? Complete this question by entering your answers in the tabs below. What is the average tax rate for taxpayers in Illinois? (Enter your answer as a percentage rounded to two decimal places (i.e., 0.1234 should be entered as "12.34"))