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.
While many factors influence business location and investment decisions, sales taxes are something within policymakers’ control that can have immediate impacts.
States can better position themselves for success by moving away from economically-damaging taxes like the capital stock tax.
Forty-four states levy a corporate income tax. Rates range from 2.5 percent in North Carolina to 11.5 percent in New Jersey.
The pandemic has accelerated changes in the way we live and work, making it far easier for people to move—and they have. As states work to maintain their competitive advantage, they should pay attention to where people are moving, and try to understand why.
Taxes and fees on the typical American wireless consumer increased again this year, to a record 24.96 percent.