State Tax Information

All states also have their own tax system. Typically there is a tax on real estate, and there may be additional income taxes, sales taxes, and excise taxes. Oil and mineral producing states often have a severance tax, which is similar to an excise tax in that tax is paid on products produced, rather than on sales. Taxes on hotel rooms are common, and politically popular because the taxpayers usually do not vote in the jurisdiction levying the tax.

These states do not levy an individual income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. New Hampshire and Tennessee only tax interest and dividend income. Delaware, Oregon, Montana and New Hampshire have no state or local sales tax. Alaska has no state sales tax, but allows localities to collect their own sales taxes up to a state-specified maximum. California has all the mentioned taxes, with the result that tax liability often exceeds 51% of income for many California residents.

Many states also levy personal property taxes, which are annual taxes on the privilege of owning or possessing items of personal property within the boundaries of the state. Automobile and boat registration fees are a subset of this tax; however, most people are unaware that practically all personal property is also subject to personal property tax. Usually, household goods are exempt; but virtually all objects of value (including art) are covered, especially when regularly used or stored outside of the taxpayer's household.

States permit the creation of special assessment districts (typically for provision of water or removal of sewage, or for parks, public transit or schools) whose boundaries may be independent of other boundaries and whose income may be from one or more of service assessments, property taxes, parcel taxes, a portion of road or bridge tolls, or an additional increment upon sales taxes in addition to the non-tax fees for services provided (such as metered water). State government is financed mainly by a mix of sales and/or income taxes and to a lesser extent by corporate registration fees, certain excise taxes, and automobile license fees.

For more free legal information on Tax Law, please visit Free Legal Information.

In The News:

Direct tax collection picks up  BusinessLineBut it is still far short of the targeted 16% growth rate in mop-up for the full year.
Why Labour Calls For Amazon To Pay Its Fair Share Of Taxes Is Complete Nonsense  ForbesAccording to The Daily Mirror, in a bid to Shadow Chancellor, John McDonnell has pledged that under a labour government, Amazon would not be awarded ...
Income Tax Refund 2019: How to track income tax refund status and get refund on time  The Financial ExpressA taxpayer is eligible to receive an income tax refund when excess taxes have been paid by him either through tax deduction on payments made to him or direct ...
2020 taxes, your TSP, mortgage and health premiums  Federal News NetworkWhile some people are already working on their 2020 taxes there are probably many more still trying to figure out what they did right, or wrong, because of the ...
Advance tax mop-up posts dismal growth, rises by just 6% in H1FY20  Business StandardThe tax authorities are faced with a steep revenue collection target for 2019-20, with advance tax mop-up posting dismal growth in the first half of the financial ...
GST meeting: Many taxing questions could be answered this Friday  Economic TimesWith a crucial GST Council meet just two days away, speculations are hitting fever pitch as to whether or not any relief will come for slowdown-hit Indian industry.
Uttar Pradesh not only state where state exchequer pays income tax for CM, ministers  MoneycontrolThe state exchequer has been bearing the tax burden of the chief minister and council of ministers of Uttar Pradesh since the last 40 years, under the Uttar ...
After 40 years, UP ministers to start paying income tax  Economic TimesYogi Adityanath has asked ministers to start paying their own income tax, ending the four-decades-old practice.
What to expect on personal taxation from the Direct Taxes Code  BusinessLineThe report of the task force on Direct Taxes Code (DTC) submitted to the Finance Minister on Monday is yet to be made public. But sources say that the panel ...
E-assessment scheme for faceless scrutiny of income tax returns notified  Economic TimesThe finance ministry has notified the e-assessment scheme 2019 for conducting faceless scrutiny assessment of income tax returns (ITR). The scheme involves ...
New Income-tax law – third time lucky?  Moneycontrol.comHimanshu Parekh. The current Income-tax Act, enacted in 1961, is nearly six decades old. With time, there have been a plethora of amendments making it a ...
Finance Minister announces new tax refund scheme, easy credit to boost exports  Economic TimesFinance Minister Nirmala Sitharaman Saturday announced a slew of measures to boost the economy, including a new scheme to refund taxes and duties on ...
10 Tax Tools to Help Crypto Owners  Bitcoin NewsWhile tax laws on cryptocurrency vary by jurisdiction, there are many useful tools to help you calculate crypto taxes, lower your tax liabilities, and simplify your ...
Opinion | You may not get tax refund if you haven’t validated your bank account  LivemintHave you received your refund for the income tax return that you filed last year? If you have still not received it, that's probably on account of the fact that there is ...
People like the idea of a carbon tax - if the money is put to good use  New Scientist NewsSurvey of people in the US suggests the public will support carbon taxes high enough to produce big emissions cuts - if they approve of how the revenue is ...
How to correct mistakes made at the time of paying income tax  Economic TimesAt the time of filing income tax return (ITR), if there is any income tax payable pending, then you are required to pay it before completing the process of ITR filing.
Why so many non-religious Europeans pay church taxes  The EconomistIN THE Old Testament, priests are told to take a tenth of every believer's crops as a tax to support the faith. In these latter days, they can outsource the job to the ...
Bill Gates 'wouldn't be against a wealth tax' — here's how it could affect his fortune  CNBCDespite being the world's second richest man, Bill Gates has been a frequent supporter of higher taxes on America's most wealthy. Democratic presidential ...
Income tax department relaxes time for applying for compounding of offences  LivemintNEW DELHI : The income tax department has relaxed time for applying for compounding of income tax offences by launching of a one-time facility. The Central ...
Too many taxes, anti-rich mindset need to go for economy to be back on its feet  Times of IndiaThe economy is in bad shape. There is no more debate about it. With a second innings of a super-stable government, we should be looking at a double-digit ...
Wealth Tax - Constitutional Probably - Good Idea Not So Much  ForbesCalvin Johnson makes a strong case that wealth tax would be constitutional, which does not mean it would be a good idea.
The new tax plan |India Today Insight  India TodayThe Modi government considers a Donald Trump-style overhaul of India's direct taxes to increase compliance and reduce 'tax terror'.
US presidential candidate Booker says he will bolster worker rights, hike taxes on rich  Times of IndiaUS News: NEW YORK: Democratic presidential candidate Cory Booker on Wednesday said he would increase worker protections, strengthen labor unions and ...
GST: Weighing good and bad of landmark tax system on MSMEs  The Financial ExpressGST for SMEs: As a major reform in the financial sector, GST was very much appreciated as it subsumed most of the indirect taxes levied by the centre and the ...
Is interest paid on foreign home loan tax-deductible in India?  Moneycontrol.comInterest on housing loan paid outside India can be claimed as a deduction in calculating income from house property, only if some important conditions are met.
Apple Says It Would Rather Not Pay $14.3 Billion in Back Taxes to the EU  GizmodoThe European Union has ordered Apple to pay roughly $14.3 billion (13 billion euros) to cover back taxes the EU says is owed to Ireland. But Apple is putting up ...
Be aware of the taxes to pay while buying, selling or letting out a house  Moneycontrol.comCarefully preserve the records of your financial transactions relating to the house property, proof of payments, sources of investment etc.
Income tax benefits on costs of education under Section 80E to Section 80  LivemintThe Income Tax Act allows tax benefits for a loan taker for higher education when certain conditions are met.Tax benefits have been laid down under Section ...
Don't reveal PAN on social media, Income Tax department warns  LivemintThe Income Tax department has asked all PAN card holders to not share their Permanent Account Number on social media.The I-T department has an online ...
New income tax rule on insurance maturity proceeds: 5 things to know  LivemintThe new income tax rule on receipt of maturity benefits from insurance policy came into effect from 1st September.A higher TDS will be levied if the insurance ...
CBDT launches one-time facility for compounding of income tax offences  Economic TimesA one-time facility to apply for compounding of income tax offences has been launched and taxpayers can avail this opportunity by December 31, a latest CBDT ...
Not just UP, five state governments bear tax burden of CM and ministers  Times of IndiaIndia News: The state exchequer has been bearing the burden of income tax of the serving chief ministers and their council of ministers in five states, apart from.
Not just Uttar Pradesh, these five state govts also pay income tax of their CMs & ministers  Economic TimesNot just Uttar Pradesh, the state exchequer has been bearing the burden of income tax of the serving chief ministers and their council of ministers in five states ...
Taxing wealth at lower rate than income is wrong, says thinktank  The GuardianThe government could gain £90bn in extra revenue over five years if it taxed income from wealth in the same way it taxes income from work, according to a ...
Google will pay over $1 billion after French investigation over dodged taxes  The VergeGoogle has agreed to pay a $550 million fine to settle an investigation in France over its tax practices, Reuters reports.
What is the tax liability of buying a second house using a home loan?  Economic Times"Income from house property is taxable once the taxpayer gets possession of the property."
Government to tweak Income Tax Act, won’t replace it with direct tax code  LivemintNEW DELHI : The government is unlikely to replace the Income Tax Act with the direct tax code, and will only incorporate select suggestions from the draft law to ...
Govt hoping for windfall gains from tax amnesty scheme  Business TodayAt a time when the government is scurrying for every penny that counts - because of fiscal uncertainty arising out of a slowing economy - it can hope to get some ...
The New Tax Math for People Living in High-Tax States  The Wall Street JournalMore snowbirds are expected to make a permanent move as the curbs on state and local tax deductions are starting to be felt. The Tax Cuts and Jobs Act of ...
Analysis | Losing the Apple Battle Might Help Win the Tech Tax War  Washington PostIf the European Commission loses its $14 billion case against Apple, calls to overhaul the global tax regime will be difficult to ignore.
Panel to hear taxpayer before invoking GAAR under new set of rules  LivemintNEW DELHI : The Central Board of Direct Taxes (CBDT) has laid down *fresh* rules to classify certain corporate transactions as tax avoidance schemes under the ...
Tax task force recommends new tax slabs for individuals  Economic TimesNEW DELHI: A government constituted Direct Tax Code task force, headed by CBDT member Akilesh Ranjan, is arguing for a new tax regime for individuals.
Tech moguls like Jeff Bezos and Mark Zuckerberg would lose billions under Elizabeth Warren's tax plan  Business InsiderSenator Elizabeth Warren's tax plan requires billionaires to pay a small percentage of their net worth on an annual basis.
Farm bodies exempted from 2% tax at source on payments above ₹1 crore  LivemintNEW DELHI : To give relief to the rural economy, the government has exempted agriculture produce marketing committees (APMCs) from the purview of the 2% ...
Why should a citizen of UP pay income tax for its rich netas?  India TodayIn Uttar Pradesh, the citizens have been paying income tax for their rich netas for the last 40 years. And in 2017, 80% of UP's netas declared themselves as ...
How to use NPS to reduce your income tax this year  LivemintYou should start planning for income tax if you have not done so far. Among other options, you could closely look at NPS or National Pension Scheme to save ...
Opinion | Auto sector tax rate cut demand has no moral or financial grounds  Moneycontrol.comShshank Saurav. The Indian automobile industry, plagued by prolonged sluggish sales, is making a strong pitch for government support in the form of tax cuts.
Opinion | It’s time for a direct tax regime that’s growth-focused and fair  LivemintA more efficient direct tax system can create space for a lower and less complicated GST that could boost economy activity.
Eliminate teacher taxes? Blackstone CEO wants to make profession 'tax-exempt'  Fox BusinessDuring an interview with Recode, Stephen Schwarzman said the plan would help attract high-quality candidates.
Is it time to switch income tax with a sales tax?  The GuardianIs it time for the US to consider switching from income tax to a progressive consumption tax as a way of addressing growing wealth inequality? Many economists ...
BAN proposes centralised system of tax collection  Nagaland PostBusiness Association of Nagas (BAN) has proposed a centralised tax collection system with online payment facility in the State and suggested the government to ...
7 changes in income tax laws that come into effect from Sept 1  Economic TimesHere is the list of the seven main changes in tax laws that will come into effect from September 1.
This key tax deadline is today. How to make sure you don't botch it  CNBCGot some side income? Run a business? You're facing a tax deadline today. Individuals who pay the Internal Revenue *Service* every quarter must make their ...
How long will Warren dodge on health care and taxes?  The Washington PostSen. Elizabeth Warren (D-Mass.) is running arguably the best campaign of any Democratic presidential contender. She's got a message. She's got enthusiastic ...
Amid Slowdown, Cars Get Pricer Due To Road Tax Hike In 9 States  ZigWheels.comPrice hike ranges from Rs 5000 to Rs 57000 (on-road) depending upon the model.
This triple tax-advantaged account might beat your 401(k) plan  CNBCThere's a savings account with a potential advantage over your 401(k) plan — and it just might help you save on taxes. It's your health savings account, and it's ...
Investing in NPS via credit card allows you to save tax without money in hand  Economic TimesYou must ensure that you have enough credit limit available on your card for the amount you are investing in NPS so as to get full tax-saving deduction benefit.
8 Years of Trump Tax Returns Are Subpoenaed by Manhattan D.A.  The New York TimesState prosecutors in Manhattan have subpoenaed President Trump's accounting firm to demand eight years of his personal and corporate tax returns, according ...
College student tried to hack into Trump’s taxes by creating a fake FAFSA application  The VergeTwo college students are facing federal prison time for attempting to hack into President Trump's tax returns, as reported by CyberScoop. Andrew Harris, 24, and ...
GST Council meets next Friday; tax rate cut to hinge on revenue position  Moneycontrol.comThe all-powerful GST Council will at its Goa meeting next week consider demands for reducing taxes on products ranging from cars to biscuits keeping in mind ...
Now, I-T Department turns gaze on client code modification to counter tax evasion  Moneycontrol.comThe Income Tax Department has sent letters to stock exchanges, asking them to look more closely into cases of client code modifications to help spot tax evasion ...
Illinois offers one-time tax amnesty program for liabilities between 2011 and 2018  WLS-TVIf you incurred tax liabilities between July 1, 2011 and June 30, 2018, you may be eligible for a one-time tax amnesty program from the state of Illinois.
Richard Simmons Owes Thousands In Back Taxes, Fueling Speculation About Well-Being  msnNOWRichard Simmons has been out of the limelight for over 5 years and his lack of public presence has caused tons of speculation about his whereabouts.
Tamil Nadu's New EV Policy Seeks Full Road Tax Exemption for Electric Vehicles Until 2022  News18According to the Tamil Nadu Electric Vehicle Policy, all EVs, two, three and four-wheelers, buses and light commercial vehicles, will be given 100 per cent Motor ...
Walmart dodged up to $2.6 billion in US taxes, former exec says  QuartzWalmart, the world's largest company, “improperly avoided” up to $2.6 billion in US taxes through an elaborate tax dodge involving a “fictitious” Chinese entity, ...
New income tax rules come into effect from September 1. Latest changes explained  LivemintSome income tax changes announced in this year's Budget comes from September 1, 2019. The full Budget for this year was presented in July this year.
‘Ploy by Companies to Pressure Govt to Lower Taxes’: Bihar Minister Says There’s No Economic Slowdo...  News18Patna: The country is not facing economic slowdown and big companies are trying pressurise the government to lower tax rates by showing a decline in ...
These states have the highest, lowest property tax rates: Report  Fox BusinessHawaii reportedly has the lowest median property tax rate, according to a new report. Meanwhile, New Jersey reportedly has the highest.
BBC presenters told to pay tens of thousands in back taxes as judge rules against them despite finding they were 'forced' into contracts by corporation  The TelegraphThree BBC news presenters have been told to pay hundreds of thousands of pounds in back taxes, despite the High Court finding that the corporation forced ...
Inheritance tax would be scrapped by the Brexit party – good news for the very rich  The GuardianA minuscule number of wealthy people would benefit from such a move, says Torsten Bell of the Resolution Foundation.
Govt gets tax bonanza from online ads on Google, Facebook  LivemintNew Delhi: Tax receipts arising from a levy on payments made to digital advertising platforms such as Google and Facebook from Indian entities jumped 59% in ...
Trump tax returns subpoenaed: New York prosecutors subpoena 8 years of President Donald Trump's tax returns – AP source  CBS NewsThe Associated Press reports Manhattan D.A. Cyrus Vance Jr. recently sent a subpoena to Trump's accounting firm seeking the last eight years of state and ...
Delhi: ED raids income tax officer, books him for money laundering  India TodayThe Enforcement Directorate (ED) said on Saturday that it has raided multiple locations linked to IRS officer Neeraj Singh, a commissioner in the income tax ...
Hundreds jailed for unpaid council tax  Financial TimesNearly 700 people have been jailed for failing to pay their council tax since 2010, with a further 7,000 handed a suspended “committal order”, the latest figures ...
My family left Chicago because of high property taxes  Chicago Sun-TimesThe recent Sun-Times editorial about a “fair tax” on high retirement income caught my attention. At the end, it stated that when older people do move, it's seldom ...
Dont let future Lijjat Papads die because of tax procedures: Tax tribunal  Business StandardIn a rare development, an income tax tribunal has suggested to the government to help new semi-skilled entrepreneurs become tax compliant instead of forcing ...
Income Tax Refund for AY 2019-20: Waiting for income tax refund? Here is how to claim ITR refund and check status  The Financial ExpressIn case you have paid taxes in excess of your tax liability for FY 2018-19, you can claim your income tax refund by filing your income tax return for AY 2019-20.
Nothing works better than tax incentives to boost consumer demand  Moneycontrol.comThe economy does not move in a linear fashion, but is instead swamped with its share of ups and downs. Post the 2008 and 2013 meltdown, we are witnessing ...
Pay penalty of Rs 10,000 for late Income-Tax filing after December 31  Business StandardI have received money from a friend abroad amounting to over Rs 2 lakh. He has said I can repay him at ease. When filing returns, can I declare it as a loan to ...
Tax on unsold houses may be abolished in new direct tax law  India TodayThe government tax panel has recommended abolition of tax on notional income from unsold houses and houses not let out. At present, all empty houses, which ...
Income tax dept launches faceless e-assessment scheme. 5 things to know  LivemintNEW DELHI : With the launching of faceless e-assessment facility, all your income tax returns (ITR) would be assessed and scrutinised in complete electronic ...
Syracuse\'s Property Tax System Hurts Poor the Most  GoverningIn Syracuse the system is tilted against the poor, because property assessments on wealthier homeowners are often too light, a Syracuse.com | The ...
Opinion | Common taxpayers suffered this tax filing season due to frequent changes  LivemintNew tax law should ensure that laws and ITR formats are not changed every year.
States opposing cut in tax rate on auto ahead of GST council meet  India TodayWhile the government is keen to go for a reduction in GST rate cut from 28 per cent to 18 per cent for the auto sector, the move's negative fallout in the form of ...
Senior citizen tax benefits: From income tax to pension – 10 exclusive points explained  The Financial ExpressHere are 10 income tax and other investment benefits available exclusively for senior citizens.
Urgent need to cut both corporate and income tax: Saugata Bhattacharya, Axis Bank  Economic TimesTax cut is the most effective way of getting out of this slowdown and the sentiment.
Woolwich taxes increasing 1%  Times RecordWoolwich's tax rate is increasing slightly. The select board has voted to increase the town's 2019 property tax from $15 to $15.15 per $1,000 of valuation.
Tough to claim input tax credit for donated goods  Economic TimesGST authorities have, based on the facts of the case, denied ITC claims, especially when the company was not distributing its own products.
Oil companies flag roadblocks in rationalising taxes on jet fuel  Economic TimesNEW DELHI: Oil marketing companies have cited issues like sales tax as a barrier to the Civil Aviation Ministry's plan to rationalise additional charges that ...
Fairhope, Spanish Fort support 3-mill tax increases for schools  AL.comSupporters for the 3-mill increases in Fairhope and Spanish Fort were celebrating Tuesday night following a special election to raise more money for schools.
Trump again dangles a promise of tax cuts  CNNWashington (CNN) President Donald Trump is reviving last year's promise to slash taxes for America's middle class as he seeks to bolster his reelection bid ...
Income tax benefits you get in sovereign gold bonds: 5 things to know  LivemintSovereign gold bonds are a good option to take exposure to gold as an asset class, say financial planners. After from fetching 2.5% interest, sovereign gold ...
ITR processed? Here's how to request intimation notice u/s 143(1)  Economic TimesOnce your income tax return (ITR) is processed, the tax department is required to send you an intimation notice under section 143(1). This tax notice will tell you ...
Reporting of foreign assets in income tax return: CBDT issues clarification  Economic TimesCBDT has clarified that only foreign assets acquired as per the relevant accounting period of the foreign country have to be reported while filing ITR for FY ...
Disqualified restaurateurs failed to pay £4 million in taxes  GOV.UKTwo restaurateurs from Glasgow have been banned for a total of 17 years after they caused a loss to HMRC of more than £4 million in unpaid taxes.
New income tax rules that impact TDS: All you need to know  Business TodayFrom increased TDS outgo on purchasing immovable property and life insurance maturity proceeds, to two new areas where TDS will now be slapped on, here's ...
India needs to move towards single corporate tax bracket of 25%: KPMG report  Business TodayKPMG has said that India needs a single corporate tax rate of 25% sans any surcharge or cess above it. The accounting and advisory firm in a report has ...
Tax Inspectors Without Borders to release its Annual Report 2018/19 on Tuesday 24 September  UNDPTax Inspectors Without Borders (TIWB) - a joint initiative of the Organisation for Economic Co-operation and Development (OECD) and the United Nations ...
All tax refunds under new export scheme may be tough, says finance ministry  Times of IndiaIndia Business News: As the government works on an “export package”, the finance ministry has said that it may not be possible for the government to shift all ...
Service tax and excise duty amnesty scheme comes into effect from Sep 1  Business StandardQ. In the recent Budget speech, the finance minister announced an amnesty scheme for *service* tax and excise duty dues. Is it still available? The Sabka Vishwas ...

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