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State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
State Income Tax Rates: An Overview. Fixed rates or flat rates, as the name implies, have a single tax bracket regardless of how much you make. Progressive income tax, the most commonly...
Tax Brackets . Here are the tax brackets for single filers and married couples filing jointly (the brackets for married couples filing jointly are in parenthesis, and the dollar amounts...
State income tax is imposed at a fixed or graduated rate on taxable income of individuals, corporations, and certain estates and trusts. These tax rates vary by state and by entity type. Taxable income conforms closely to federal taxable income in most states with limited modifications.
With progressive tax rates, most states have separate tax brackets that depend on how much you earn. The idea is that people in higher income brackets can afford to pay more taxes.
In the United States, the jock tax is the colloquially named income tax levied against visitors to a city or state who earn money in that jurisdiction. Since a state cannot afford to track the many individuals who do business on an itinerant basis, the ones targeted are usually high profile and very wealthy, namely professional athletes. [1]