Wednesday, August 23, 2023

US State Income Taxes

US State Income Tax rates range from 7 States witn no income tax to 9 States with a flat income tax to 10 States with the highest income tax 

States with no state income tax include: Alaska, Florida, Nevada, S Dakota, Tennessee, Texas and Wyoming.

https://taxfoundation.org/state-income-tax-rates-2023/

States with a flat rate include:

Massachusetts 5%, Kentucky 5%, New Hampshire 5% on investment earnings, N Carolina 4.99%, Illinois 4.95%, Utah 4.95%, Colorado 4.55%, Indiana 3.23% and Pennsylvania 3.07%.

States and districts with the highest tax rates include:

California 13.3%

Hawaii 11%

New York 10.9%

New Jersey 10.75%

Oregon 9.9%

Minnesota 9.85%

DC 9.75%

Vermont 8.75%

Iowa 8.53%

Wisconsin 7.65%

These States use lower graduated tax bracket rates to determine taxes for those who earn below the highest rate level.

https://www.thebalancemoney.com/state-income-tax-rates-3193320

Comments

7 States have no income tax. 9 States use a flat tax on income. 34 States do tax income and use brackets to tax higher amounts of income.

Norb Leahy, Dunwoody GA Tea Party Leader

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