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:
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State and Local Sales Tax Rates, Midyear 2023
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.
State Corporate Income Tax Rates and Brackets for 2023
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.
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New Federal Reserve Paper: State Corporate Taxes Hurt Entrepreneurship
For every 1 percentage point increase in a state’s corporate tax rate, employment in start-up firms declines 3.7 percent, according to a recent Federal Reserve study.
Where Did Americans Move in 2017?
There are many ways that states can compete with one another for residents, and tax rates and structures should certainly be part of the conversation for states looking to attract new residents.
What Percentage of Lottery Winnings Would be Withheld in Your State?
You probably aren’t going to win the Powerball jackpot, but your state already has. Here’s a look at lottery withholding tax rates by state.
Does Your State’s Corporate Income Tax Code Conform with the Federal Tax Code?
Whether your state’s corporate income tax code conforms to the federal corporate income tax code matters a great deal for how the Tax Cuts and Jobs Act will impact revenue in your state.
Does Your State’s Individual Income Tax Code Conform with the Federal Tax Code?
As the federal government continues to debate tax reform, states, and many taxpayers, are asking an important question: How is my state’s tax code impacted? The exact impacts won’t be known until the federal bill is finalized, but a good place to start is understanding the issue of conformity.
Wireless Taxes and Fees in 2017
A typical American household with four wireless phones paying $100 per month for wireless voice service can expect to pay about $221 per year in wireless taxes, fees, and surcharges.
Cigarette Taxes and Cigarette Smuggling by State, 2015
Excessive tax rates on cigarettes approach de facto prohibition in some states, inducing black and gray market movement of tobacco products into high-tax states from low-tax states or foreign sources.
