Updated: Jul. 9, 2012
Next update: Jul. 2013
Transfer payments are payments to persons for which they do not render services in the current period. As a component of personal income, they are payments by government and business to individuals and nonprofit institutions. Although most of transfer payments are made in cash, they also include medicare, medicaid, and food stamps. At the State level, approximately 90 percent of total transfer payments are estimated on the basis of directly reported data. The remaining 10 percent are estimated on the basis of indirect, but generally reliable, data.
See also data for U.S. States and Counties. The source is the Bureau of Economic Analysis.