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:
22 min read
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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.
8 min read
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.
6 min readAll Related Articles
Cigarette Taxes and Cigarette Smuggling by State, 2021
People respond to incentives. As tax rates increase or products are banned from sale, consumers and producers search for ways around these penalties and restrictions.
17 min read
How High Are State and Local Tax Collections in Your State?
Contrary to initial expectations, the pandemic years were good for state and local tax collections, and while the surges of 2021 and 2022 have not continued into calendar year 2023, revenues remain robust in most states and well above pre-pandemic levels even after accounting for inflation.
4 min read
How Do Taxes Affect Interstate Migration?
The latest IRS and Census data show that people and businesses favor states with low and structurally sound tax systems, which can impact the state’s economic growth and governmental coffers.
7 min read
Excise Taxes and Fees on Wireless Services Drop Slightly in 2023
To alleviate the regressive impact on wireless consumers, states should examine their existing communications tax structures and consider policies that transition their tax systems away from narrowly based wireless taxes and toward broad-based tax sources.
18 min read
Does Your State Have an Estate or Inheritance Tax?
In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax.
4 min read
What Is the Real Value of $100 in Metropolitan Areas?
The differences in purchasing power can be large and they have significant implications for the relative impact of economic and tax policies across the United States.
3 min read
How Are Electric Vehicles Taxed in Your State?
The state EV taxation landscape reflects the evolving transportation sector and the pressing need to address both fiscal gaps in road funding and environmental concerns.
4 min read
County Data Shows Repealing SALT Cap Would Benefit High-Income Earners
Any move to repeal the cap or enhance the deduction would disproportionately benefit higher earners, making the tax code more regressive.
5 min read
Where Do People Pay the Most in Property Taxes?
Property taxes are the primary tool for financing local governments and generate a significant share of state and local revenues.
6 min read
How High are Vaping Taxes in Your State?
If the policy goal of taxing cigarettes is to encourage cessation, vapor taxation must be considered a part of that policy design.
3 min read
How High are Gas Taxes in Your State?
California pumps out the highest state gas tax rate of 77.9 cents per gallon (cpg), followed by Illinois (66.5 cpg) and Pennsylvania (62.2 cpg).
2 min read
Does Your State Have a Sales Tax Holiday?
However well-intended they may be, sales tax holidays remain the same as they always have been—ineffective and inefficient.
4 min read
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.
8 min read
How High Are Beer Taxes in Your State?
Taxes are the single most expensive ingredient in beer, costing more than the labor and raw materials combined.
3 min read
How Hard Do Distilled Spirits Taxes Bite in Your State?
Of all alcoholic beverages subject to taxation, stiff drinks—and all distilled spirits—face the stiffest tax rates. Like many excise taxes, the treatment of distilled spirits varies widely across the states.
3 min read
Ranking Property Taxes on the 2023 State Business Tax Climate Index
States are in a better position to attract business investment when they maintain competitive real property tax rates and avoid harmful taxes on tangible personal property, intangible property, wealth, and asset transfers.
3 min read
Compare Tobacco Tax Data in Your State
In the United States, tobacco is taxed at both the federal and state and sometimes even local levels. These layers of taxes often result in very high levels of taxation—the highest of any consumer item. The retail price of cigarettes, for instance, is more than 40 percent taxes on average. In some states, like Minnesota and New York, more than 50 percent of the price paid by consumers comes from taxes.
2 min read
Ranking Sales Taxes on the 2023 State Business Tax Climate Index
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.
3 min read
Ranking Individual Income Taxes on the 2023 State Business Tax Climate Index
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.
4 min read
Does Your State Tax Recreational Marijuana?
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.
5 min read