State Individual Income Tax Rates and Brackets for 2023
Individual income taxes are a major source of state government revenue, accounting for more than a third of state tax collections:
Providing journalists, taxpayers, and policymakers with the latest data on taxes and spending is a cornerstone of the Tax Foundation’s educational mission.
As a nonpartisan, educational organization, the Tax Foundation has earned a reputation for independence and credibility. Our state tax policy team regularly provides accessible, data-driven insights on state tax rates, collections, burdens and more, from sources such as the U.S. Census Bureau, Internal Revenue Service (IRS), and others.
Individual income taxes are a major source of state government revenue, accounting for more than a third of state tax collections:
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
Compare the latest 2023 sales tax rates as of July 1st. Sales tax rate differentials can induce consumers to shop across borders or buy products online.
However well-intended they may be, sales tax holidays remain the same as they always have been—ineffective and inefficient.
New Jersey levies the highest top statutory corporate tax rate at 11.5 percent, followed by Minnesota (9.8 percent) and Illinois (9.50 percent). Alaska and Pennsylvania levy top statutory corporate tax rates of 9.40 percent and 8.99 percent, respectively.
This web tool allows taxpayers to see how cigarette tax revenues have changed since 1955. Across almost all states, a clear pattern of volatility emerges. Tax rate hikes are met with a momentary bump in revenue, followed by a falloff.
Individual income tax rates can influence location decision-making, especially in an era of enhanced mobility, where it is easier for individuals to move without jeopardizing their current job, or without limiting the scope of their search for a new one.
Recreational marijuana taxation is one of the hottest policy issues in the U.S. Currently, 21 states have implemented legislation to legalize and tax recreational marijuana sales.
While throwback and throwout rules in states’ corporate tax codes may not be widely understood, they have a notable impact on business location and investment decisions and reduce economic efficiency.
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
States can better position themselves for success by moving away from economically-damaging taxes like the capital stock tax.
Gross receipts taxes impose costs on consumers, workers, and shareholders alike. Shifting from these economically damaging taxes can thus be a part of states’ plans for improving their tax codes in an increasingly competitive tax landscape.