State Income Tax

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State Income Tax News & Opinion ArticlesDisplaying 1 - 20 of 32 1 2 Next
  • People with taxable incomes of less than $22,250 a year no longer would be taxed; rates for higher amounts would be cut about 6.6 percent.
  • Monday is the deadline for Americans to file their personal income taxes.
  • Apr 15 2019
    What to do about Maine’s tax burden
    The Legislature should start by fully funding revenue sharing and state education funding.
  • Families often spend thousands of dollars caring for ailing loved ones at home.
  • Supporters of repealing a 2011 tax on some retirement income say seniors were asked to shoulder more of the state’s income tax burden to offset a business tax break. Advocates for keeping the tax say it treats all retirement income equally.
  • Arizonans could have more time to file their state tax returns.
  • There may be a rush to the ballot box next year to raise taxes, but not everybody thinks success will be easier than in the past as many believe.
  • What Tax Reform Means for You (and your Neighbor) - Elliot Young: Ever continues the quest for who first uttered the phrase.
  • Low-tax states are attracting millions of retirees. But you have to look beyond taxes to make the right move.
  • With tax day drawing near, it's the time of year to gripe about why taxes are so darn high in your state. It's as good a time as any to work on a better strategy for the next tax year. Since part of that strategy could be moving to a more tax-friendly state, we set out to find out which states offer the most favorable tax situations.
  • Over half of all taxes collected by the IRS — $3.1 trillion in fiscal 2014 — comes from income taxes. Like the federal government, state and local governments also rely heavily on income taxes. Very few people in the United States can avoid paying federal income taxes, but there are seven states where individual income is not taxed at all at the state level.
  • Over half of all taxes collected by the IRS — $3.1 trillion in fiscal 2014 — comes from income taxes. Like the federal government, state and local governments also rely heavily on income taxes. Very few people in the United States can avoid paying federal income taxes, but there are seven states where individual income is not taxed at all at the state level.
  • As Americans take stock of their personal finances with Tax Day looming, a new study provides a useful reminder that geography is often destiny when it comes to their overall tax burden.
  • Illinois was ranked worst, and Iowa wasn’t far behind, when it comes to how much of your income goes to pay taxes. “The average American household pays roughly $17,000 in federal income taxes each year. And while we’re all faced with the same burden in that regard, there is significant disparity when it comes to state and local taxes,” said a WalletHub report on the best and worst states for taxpayers.
  • California and Hawaii are amazing places to live, but if you’re wealthy they will charge you for the privilege. A new chart created by Nathan Yau of the blog Flowing Data compares each state’s income tax brackets and rates using data from the Tax Foundation. The scale at the bottom shows how much an individual has to make to be subject to each rate. The darker the shade, the higher the rate.
  • While Texas has no state income tax and no property tax on vehicles, its residents pay one of the nation's highest rates when it comes to taxes on real estate. According to WalletHub, a personal finance website, Texans this year are paying an average of $3,327 in real estate taxes. It's the fifth highest amount in the United States and 59 percent higher than the average American household's real estate property tax bill of $2,089.
  • You may have already sent off your 2014 paperwork to the IRS, enclosed a check or requested a refund, and crossed taxes off your to-do list for the year. But you're not done yet. You'll still have to work until April 24 to earn enough money, on average, to pay what you owe Uncle Sam this year. That's another day longer than last year, according to the Tax Foundation, a tax-policy research group that calculates what it calls "Tax Freedom Day" annually.
  • A pair of lawmakers in the Alaska House have filed legislation to reinstate an income tax. Rep. Paul Seaton, a Homer Republican, and Rep. Bryce Edgmon, a Dillingham Democrat who caucuses with the majority, filed the bill on Friday, with just two weeks left in the session. The bill would tax Alaskans at 15 percent of their federal tax rate. At the very highest bracket, for those making over $400,000, the state income tax would amount to a six percent levy before deductions.
  • bigger than housing, transportation, and other costs. So in addition to your federal income tax, how much your state takes from you makes a big difference for your financial picture.
  • You only have a few weeks left to file your taxes. If it's money that's holding you back, know that there are a number of free income tax preparation and filing options out there, both for federal and state taxes. According to the IRS, approximately 70 percent of taxpayers are eligible to file for free. If you haven't done your own taxes before, it can be an intimidating process with several complicated tax laws to know, like which deductions or tax credits you're allowed to take. For most people, however, filing taxes is relatively simple, and can be done using a 1040EZ. A good number of people can even file using popular tax preparation software programs without even having to pay.