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:

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We should celebrate those who pay taxes: View  Economic TimesThe minority that accounts for its income and pays taxes every year is lonely in its faith and sense of duty.
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NJ Gov. Murphy confident lawsuit against IRS over SALT tax deductions will succeed  CNBCNew Jersey Gov. Phil Murphy is confident that his state's lawsuit against the federal government over charitable donation tax write-offs will succeed, he told ...
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Celebrate those who pay taxes  Times of IndiaIndia Business News: The Budget is the government's fund raising exercise. We need money to build infrastructure, invest in education and health, secure power ...
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NHAI plans land appreciation taxes to finance projects  Economic TimesNHAI is working on a mechanism to share gains in land value on account of upgradation of highways.
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Beware. Other Nations Will Follow France With Their Own Digital Tax.  The New York TimesLast Thursday, the French Senate passed a digital services tax, which would impose an entirely new tax on large multinationals that provide digital services to ...
France tech tax: What's being done to make internet giants pay more?  BBC NewsFrance is to become the first country in Europe to introduce a tax on tech giants like Facebook, Amazon and Google. The move has upset the US. So how does it ...
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Siblings who claimed paying taxes was 'against God's will' ordered to pay $1.4 million  New York Post Two Australian siblings who refused to pay income taxes for eight years because it went “against God's will” were reportedly ordered to fork over $1.4 million to ...
3 tax-planning lessons from Joe Biden's tax returns  CNBCFormer Vice President Joe Biden takes the stage for the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida.
The New Biden Tax  The Wall Street JournalFor a candidate who was supposed to be the voice of moderation in the race for the Democratic presidential nomination, Joe Biden spends a lot of time ...
Budget 2019: Is it feasible to reintroduce inheritance tax in India?  India TodayNoted economists feel that it would be a good idea to reintroduce such a measure in the wake of lower tax collections and need for higher spending in the social ...
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Amazon paid zero tax for the second year in a row - and it is not illegal  YourStoryIn 2017, Amazon paid zero tax. In 2018, the tech giant paid even less than zero despite making a profit of $11.2 billion, but it is not illegal.
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Foreign investors' lobby group asks India to reconsider high taxes  MoneycontrolForeign investors are urging India to reconsider its decision to increase taxes on certain groups of wealthy portfolio investors, arguing the move will hit the ...
Corporate Tax Rates: How Low Can You Go  International Monetary FundBy IMFBlog. In life, two things are certain: death and taxes, the saying goes. Unless you are a large multinational corporation, in which case, maybe not. Over the ...
Things You Should Know Before Filing Your Income Tax Returns (ITR)  NDTV NewsITR filing: Non-filing of return of income may result in penalty and prosecution, according to the Income Tax department.
At 48.3% in 2018, corporate taxes in India among highest in the world  Business StandardCorporate income tax in India is among the highest in the world, with the tax rate growing steadily in recent years. Of the 94 jurisdictions covered by the ...
AOC's policy adviser wants to tax high incomes at 99%  Business InsiderDan Riffle, Rep. Alexandria Ocasio-Cortez's senior policy adviser, believes that income over a certain threshold should be taxed at 99%, he told Vox.
Luxury realty braces for impact from higher taxes on ultra-rich  LivemintDevelopers are concerned that the tax rate increase may lead to buyers holding back on buying luxury homes.The cocktail of tax increases, glut in supply and ...
Government to revamp procedure for tax assessment  Economic TimesIndia has set the ball rolling for what could completely reset the taxpayer-income tax department relationship. The government has handed out the task of firming ...
High indirect taxes are hurting exports, Make in India initiative: Experts  Business StandardHigher tariffs and taxes seem to be hurting India's drive to raise the share of exports in gross domestic product (GDP) and push up economic growth. The recent ...
New income tax rules with tougher penalty comes into effect: 10 points  LivemintNEW DELHI: Under the revised guidelines of the Income Tax department, those indulging in serious offences under black money and benami laws will not be ...
Progressive taxation will help bring down income inequality  LivemintThe govt's focus on rationalizing corporate tax rate is the need of the hour for Indian economy.In a dynamic economy, some sectors may need to be incentivised.
One-Time Amnesty Scheme in Making for Old Income Tax Cases Worth at Least Rs 8 Lakh Crore  News18A one-time amnesty grant for legacy income-tax disputes worth at least Rs 8 lakh crore may be in the works, according to sources. They speculate that a ...
As Nations Look to Tax Tech Firms, U.S. Scrambles to Broker a Deal  The New York TimesThe proposed levies on firms like Facebook and Google are pitting traditional allies against one another and threatening to set off a cascade of tax increases ...
Fewer taxes, more to spend, say millennials  LivemintMost 23-38-year-olds save little after paying rent, taxes and EMIs and spending on eating out, shopping.India's 440 million millennials saw little relief as prices of ...
Super-rich tax on FPIs: We’ll take it as it comes, says FM  BusinessLineFinance Minister Nirmala Sitharaman on Monday ruled out any clarification on the surcharge on the super-rich and foreign portfolio investors (FPI), at least for ...
Syntax and the “sin tax”: the power of narratives for health - The BMJ  The BMJAs we reach the final weeks of Boris Johnson and Jeremy Hunt's campaigns for Number 10, we are starting to see some of the policies that they may adopt if ...
India's hedge funds threatened by higher taxes  Economic TimesDomestic hedge funds have taken seven years to reach $6 billion in investment commitments.
What are CPSE ETFs? You can soon save taxes by investing in them  LivemintMumbai: You can soon save taxes by investing in Central Public Sector Enterprises (CPSE) exchange traded funds (ETF) as the government is set to introduce ...
Philly judge orders city and schools to repay nearly $50 million in tax revenue to commercial property owners  The Philadelphia InquirerRuling in one of the largest assessment challenges in Philadelphia's history, a judge on Thursday ordered the city and School District to repay commercial ...
Pakistani businesses on strike over new IMF backed taxes  Economic TimesHundreds of thousands of Pakistani businesses are on strike nationwide to protest a new sales tax, which opposition political parties say is being imposed as ...
Tax fraud of about ₹38,000 crore detected last year  LivemintNEW DELHI: Tax officials detected ₹37,946 crore worth of tax fraud in 2018-19 and ₹6,520 crore in the April-June period of the current financial year after the ...
What the IRS doesn’t tell you about self-employment taxes  MarketWatchMany taxpayers get confused about whether they owe the 15.3% self-employment tax.
Have NDA’s tax reforms been counterproductive?  MoneycontrolWith tax revenue collections falling short of budget estimates, there is a need for the govt to reconsider its ambitious targets and reform the tax system.
LTCG makes filing Income Tax returns tough  Times of IndiaIndia Business News: A recent update in the software utility that enables taxpayers to file their returns online has created hurdles for taxpayers who have earned ...
Scottish income tax £941m short of forecast  BBC NewsThe amount of income tax revenue raised by the Scottish government in 2017/18 went up by 1.8% but was still £941m short of original forecasts. The HMRC ...
Tinkering with taxes for foreign and domestic investors negative for market: Samir Arora  Economic TimesI do not think this will revive the market in the short term, says Helios Capital founder.
Budget 2019 analysis: What income tax changes mean for you  Economic TimesHere is a look at the tax proposals announced in both the budgets and their tax impact on your pocket.
Tax dept seize ₹400 crore Noida plot belonging to Mayawati's brother  LivemintThe Income Tax Department said on Thursday it has attached a benami plot in Noida worth ₹400 crore belonging to BSP chief Mayawati's brother Anand Kumar ...
Keep your date with filing income tax returns  MoneycontrolWith the Income-tax Return (ITR) filing deadline fast approaching on July 31, 2019 [for individuals not subject to tax audit provisions under the Income-tax Act, ...
View: If it moves, tax it. That's desperate, India  Economic TimesBy Andy Mukherjee Desperation is creeping into India's economic policy-making. Having lost the fiscal plot, bureaucrats are trying to marshal resources by ...
Back-to-school sales tax holidays: These 16 states are giving families a tax break  USA TODAYSixteen states have sales tax holidays with Alabama, Mississippi and Tennessee having tax-free days in July. Thirteen other states have their holidays in August.
Is it viable to reintroduce estate tax in the upcoming budget?  LivemintAhead of the Budget 2019, there is speculation that the govt may reintroduce estate taxes in order to enhance tax revenue.Ashwini Kumar Sharma asked 4 ...
Trump’s Tax Law Threatened TurboTax’s Profits. So the Company Started Charging the Disabled, the Unemployed and Students.  ProPublicaThe move by TurboTax maker Intuit to charge more lower-income customers has helped boost revenue.
Task force on Direct Tax Code to submit report by July 31, says FM Sitharaman  Business TodayThe new direct tax code is set to replace the existing Income Tax Act. The aim is to reform the complex income tax laws into simpler tax codes with reduced rates, ...
Banks approach Delhi HC against ₹38,000 crore service tax demand  LivemintNew Delhi: Thirteen banks have moved Delhi High court against a government demand for *service* tax to the tune of of ₹38,000 crore. Their claim is that the ...
Tax On Super-Rich Decoded: Here's Your Complete Guide To Understanding New Rules  NDTV NewsIncome tax slab: "In view of rising income levels, those in the highest income brackets, need to contribute more to the nation's development," Finance Minister ...
Finance ministry justifies higher taxes for super rich  Business TodayFlights between India, Europe to increase by over 25% from winters: Air France-KLM, Deficient monsoon hits Kharif crops, acreage down 27% so far: Govt, ...
Can countries lower taxes and raise revenues?  The EconomistRARELY has a dinner-table scribbling created such a legacy. In 1974 Arthur Laffer, an economist, sketched a simple diagram on the back of a napkin to illustrate ...
Income tax return filing: Here's your step by step guide  Economic TimesJuly 31 is the last date to file your income tax return (ITR) for FY 2018-19. By filing your ITR on time, along with certain benefits such as carry forward of losses, ...
LTCG tax relief in Union Budget? D-Street is hoping against hope  Economic TimesMUMBAI: Market participants hope for some relief on long-term capital gains (LTCG) tax on securities in the full Union Budget that Finance Minister Nirmala ...
Budget 2019 | Wealth tax – The idea is to play fair, but is the time ripe?  Moneycontrol.comChances are wealth tax might make a comeback. Even so, the government would do well to put safeguards in place to ensure the common man is not put at a ...
How a Tax Loophole Is Helping Silicon Valley Workers Save Millions  The New York TimesA little-known tax break allows some start-up employees who own company stock to avoid paying taxes on up to $10 million when they sell their shares.
Back-to-school sales tax holidays bringing savings to 16 states  Fox BusinessRetailers are gearing up for back-to-school shopping, and parents in students in many states will be able to pick up their supplies without having to pay any state ...
Facebook answers how Libra taxes & anti-fraud will work  TechCrunchFacebook provided TechCrunch with new information on how its cryptocurrency will stay legal amidst allegations from President Trump that Libra could facilitate ...
9 Airbnb Rental Tax Deductions You Can Take for Your Vacation Properties  EntrepreneurWith summer vacations at a peak, it's a great time to review the top nine tax deductions you can ake for your short-term rental properties through Airbnb, VRBO, ...
Budget 2019: Income tax collection target too steep, say experts  Business StandardThe income tax collection target was still far from realistic despite the number being revised downwards in the full Budget from the interim Budget projection, ...
Maximise revenue, minimise tax  The Indian ExpressIndia has just one policy option to advance private investment and become a $5 trillion economy — reduce corporate tax rate for all firms to 22 per cent, reduce ...
View: GST, the most audacious tax reform- A leap of faith and political determination  Economic TimesBy: Najib Shah July 1, 2017, was a momentous day — the day India pulled off a most audacious tax reform. A reform so far reaching that it was truly worthy of a ...
Five provisions you must not miss in the tax return filing process  MoneycontrolAs the deadline to file the tax return is fast approaching, taxpayers must take note of these provisions to avoid late filing fees and penal consequences.
No relief from super-rich tax for FPIs structured as trusts: Sitharaman  Business StandardForeign portfolio investors (FPI) functioning as trusts in India will have to pay the tax surcharge proposed in Budget, said Finance Minister Nirmala Sitharaman ...
22 States Considered Eliminating the ‘Tampon Tax’ This Year. Here’s What Happened.  The New York TimesMenstrual products are subject to sales taxes in 35 states, and lawmakers' efforts to exempt them have foundered. Now supporters of 'menstrual equity' are ...
Mortimer Caplin, Tactful but Tough Tax Collector, Dies at 103  The New York TimesMortimer Caplin, who as Internal Revenue commissioner in the early 1960s was credited with making taxpaying more tolerable for the majority of Americans ...
Tax foreign tech giants operating in India, say RSS ideologues, Gandhian  Business StandardThree Rashtriya Swayamsevak Sangh (RSS) ideologues, including K N Govindacharya, and a Gandhian have written to Finance Minister Nirmala Sitharaman to ...
Gross tax to GDP ratio dips to 10.9 per cent in FY19 on shortfall in indirect tax revenues: Survey  BusinessLineThe Government had budgeted to collect Rs 11.50 lakh crore from direct taxes and Rs 7.43 lakh crore from GST in 2018-19.
Budget 2019: Sitharaman urged to bring cigarette taxation to pre-GST level  Business StandardThe Federation of All India Farmer Associations (FAIFA) has urged Finance Minister Nirmala Sitharaman to correct an error in cigarette taxation under the new ...
Tax body seeks extension of GST return filing by four months  Economic TimesTax payers and consultants are also required to keep in mind the hundreds of amendments and clarifications issued by the government since inception of GST ...
‘Tax us more,’ US billionaires urge presidential candidates to back higher taxes to confront climate change  The Financial Express"A wealth tax could help address the climate crisis, improve the economy, improve health outcomes, fairly create opportunity, and strengthen our democratic ...
Young, mega-rich - and demanding to pay more tax  BBC NewsLiesel Pritzker Simmons is fabulously wealthy. But this member of one of America's richest families is also uneasy about it. "It's time for us who are blessed with ...
Bar Refaeli appeals court order to pay $2.3 million in back taxes  HaaretzThe supermodel says the lower court erred in saying the 'center of her life' was in Israel in 2009 and 2010.
Tax department tightens the noose on offenders  LivemintCBDT's stiffer tax provision will ensure serious offenders can't escape prosecution.The guidelines restrict the number of times a person can file a compounding ...

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