Seven states charge no income tax at all: Alaska, Florida, Nevada, Wyoming, South Dakota, Tennessee and Texas. Meanwhile, Washington taxes only capital gains income, and New Hampshire taxes dividends and interest income. Income-tax-free Texas and Florida were the two most popular states where ...
Nine states do not have a state income tax, but they have other revenue generating programs that can affect your tax bill.
No income restrictions. Alaska (no state income tax) Arizona File using AZ-specific fillable forms; No income restrictions. FreeFile options also available; income and/or other restrictions apply. Arkansas Various FreeFile options; Income and/or other restrictions apply. California Free electronic ...
South Dakota also has average per capita property taxes, and its state-local effective tax rate of 8.4% is the fourth lowest in the country. Tennessee As of 2021, Tennessee officially did away with taxes on investment income and interest, making it income-tax free. It also has some of the...
Democratic Gov. Andy Beshear has signed off on a bill that will lower Kentucky’s individual income tax starting next year Associated PressFeb. 6, 2025 Justice Sotomayor Renews Her Opposition to the Court's Ruling That Ex-Presidents Have Broad Immunity ...
Suit Challenges Louisiana Ballot Measure Seeking Tax Law Rewrite A group of voters has filed suit against Louisiana Secretary of State Nancy Landry seeking to halt a vote on a state constitutional amendment that would drastically change state tax law ...
Which Are the Tax-Free States? Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are the only states that do not levy a state income tax. Note that Washington does levy a state capital gains tax on certain high earners. ...
(or $250 a month) into one beneficiary’s 529 account. The chart is useful to provide a quick idea of your state’s tax benefits at a glance, but I would make sure to run the numbers foryourincome andyourexpected annual contribution. ThisVanguard state deduction calculator toolmay be ...
Additionally, the following are tax-free states in the USA that don’t have income taxes for earned income, but they do tax dividend and interest income. This will phase out in future years, however, making the states both income tax free by 2025. ...
Associated PressFeb. 18, 2025 Economists Predict Modest North Carolina Surplus, but Warn More Tax Cuts Will Curb Revenues North Carolina officials are projecting a modest revenue surplus this fiscal year but are warning that tax cuts already on the books and taking effect soon will mean lower col...