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Facts & Figures 2015: How Does Your State Compare?

1 min readBy: Jared Walczak

How do taxes in your state compare nationally? This convenient pocket-size booklet compares the 50 states on many different measures of taxing and spending, including individual and corporate income taxA corporate income tax (CIT) is levied by federal and state governments on business profits. Many companies are not subject to the CIT because they are taxed as pass-through businesses, with income reportable under the individual income tax. rates, business taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. climates, excise taxes, tax burdens and state spending.

Errata: The print edition of this booklet contains an error in California’s individual income taxAn individual income tax (or personal income tax) is levied on the wages, salaries, investments, or other forms of income an individual or household earns. The U.S. imposes a progressive income tax where rates increase with income. The Federal Income Tax was established in 1913 with the ratification of the 16th Amendment. Though barely 100 years old, individual income taxes are the largest source of tax revenue in the U.S. rates and misstates Nebraska’s top inheritance tax rate. This online version corrects these errors.

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