Lowest & Highest Taxed States [INFOGRAPHIC]
Did you know… not every state taxes the same? Tax on personal income varies from state to state and can range from 0 to 13.3%. While the federal tax rates remain consistent from state to state (based on your filing status and income), the tax rates vary from state to state.
States with the highest taxes are California, Oregon, Minnesota, Iowa, and New Jersey where residents pay 8% or higher on state income tax. Meanwhile, residents of Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming do not pay any state income tax. Makes you think twice about where you live, right?!
This infographic reveals the lowest and highest taxed states in America. Check it out here!
The startup tax or new business tax is a topic many new business owners shy away from. Don't get caught off-guard. Review these tips provided by our tax pros.
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Federal and state tax rates are constantly in a state of change. In case you missed important updates within your state, review the upcoming changes for 2018 and beyond.