Virginia named sixth most-generous state in report
- June 4, 2013
Virginia is the sixth most generous state in the nation. That is the assessment of financial services company The Motley Fool based on an analysis by the Tax Foundation.
Using 2011 Internal Revenue Service data, the Tax Foundation compiled a map earlier this year that showed the percentage of tax returns filed in each state claiming deductions for charitable contributions.
The Motley Fool ranked the top six states in recent report. They are:
No. 6: Virginia, with 32.5 percent of tax returns claiming charitable deductions.
No. 5: Minnesota, 32.7 percent.
No. 4: Utah, 33.1 percent.
No. 3: Connecticut, 35.9 percent.
No. 2: New Jersey, 36 percent.
No. 1: Maryland, 40.1 percent.
The Motley Fool noted that Virginia also ranked in the top 10 among the states in a separate study released last year by The Chronicle of Philanthropy based on 2008 IRS data. That ranking was based on total giving.
The Chronicle study said total contributions claimed on tax forms in Virginia were $4.2 billion, amounting to a median $2,790 per taxpayer.
The Motley Fool noted that the Tax Foundation ranking did not reflect donations made by taxpayers taking standard deductions rather than itemized deductions.