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.
All State Tax Data
In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax.
Eliminating state gross receipts taxes would be a pro-growth change to make the tax code better for businesses and consumers. How does your state compare?
An ideal sales tax applies to a broad base of final consumer goods and services, with few exemptions, and is levied at a low rate.
Which states have the highest property taxes in 2022? See how your state compares in property taxes across the United States
The sales tax is too important a part of states’ revenue toolkits to be permitted further erosion, making sales tax modernization a vital project of the 2020s.
Ranking unemployment insurance tax codes on the 2022 State Business Tax Climate Index. Learn more about state unemployment insurance tax code and systems.