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:

Seriously, there are still ways to reduce your taxes for 2018  CNBCEven though 2018 ended two months ago, these 3 strategies can still help you set aside money for your future and reduce your tax bill for last year now.
6 unexpected tax breaks you can claim on your tax return  Business InsiderThere are several legitimate ways to pay less taxes. Under-the-radar tax breaks include deductions for jury duty and bringing your pet to work.
Why a Tax Cut Might Not Mean a Bigger Refund  New York TimesThanks to a change in the law, most Americans received a tax cut in 2018, the government says. But many people are finding that they are getting smaller ...
Here Are 4 Post Office Saving Schemes That Offer Income Tax Benefits  NDTV NewsPost Office Saving Schemes With Income Tax Benefits: Interest rates on these schemes move in line with the government's interest rates on small savings ...
Amazon federal taxes: how the company’s corporate tax bill was $0  Vox.comAmazon's founder is America's richest person, but the company paid no corporate income tax last year. How can that be? For starters, Jeff Bezos is rich because ...
Your parents, wife and children can help you save taxes. Here's how  Economic TimesSalaried individuals can save tax by paying rent to their parents and availing the HRA exemption benefit.
How High-Tax Countries Tax  BloombergThey don't tax wealth much, their income taxes are high but not very progressive, and they rely a lot on consumption taxes.
Amazon paid no federal tax for 2018 – but how much profit did it earn?  The GuardianThough Amazon's Queens headquarters were ultimately scuppered it turns out the company is already receiving benefits from the government.
Many Americans Are Shocked By Their Tax Returns in 2019. Here’s What You Should Know  TIMEAs tax season starts to heat up, people with big plans for their tax refunds may be surprised to find they are receiving less money than in years past. The initial ...
The $1 tip is dead and how married couples should file their taxes  MarketWatchHappy Friday, MarketWatchers! Check out today's top personal finance stories as you head into the weekend. These are the 3 big reasons you should use a ...
Fact-check: Does Amazon pay '$0' in taxes?  Times NowAmazon found itself in the headlines after suddenly pulling out of a planned New York City corporate expansion amid controversy over local tax incentives that ...
The Soda Tax Appears to Work  GizmodoA real-world experiment in Berkeley, California might help settle the debate over whether taxing sugary soft drinks can make people healthier. A new study found ...
President Trump would have to release his income taxes if New York bill is approved  The Journal News | LoHud.comSupporters of trying to force President Donald Trump to release his state income taxes are hoping there is a renewed effort to get it done in the state Legislature ...
Two Companies Used Crypto to Pay Taxes in Ohio, Says State Treasurer  CointelegraphNews. Two businesses in the United States state of Ohio have paid taxes with cryptocurrencies, state Treasurer Robert Sprague said in a forum on Feb. 19.
As Nike Works To Help Raise New Taxes, A Bill Proposes Revoking The Company's 2012 Tax Deal  Willamette WeekState Sen. Brian Boquist (R-Dallas) wants to scotch the unusual deal lawmakers agreed to in 2012 for the benefit of the state's largest homegrown company, ...
Carbon taxes could create new winners and losers among countries, research says  Science DailyA global carbon tax would create new sets of economic winners and losers, with some countries holding a distinct competitive advantage over others, according ...
CBIC sets up 3 working groups to facilitate exports, curb tax evasion  Economic TimesNew Delhi: The CBIC has set up three working groups to suggest ways to facilitate exports, especially through e-commerce, and improve compliance by way of ...
Exhausted Section 80C limit? Here are 7 tax saving options other than 80C  The Financial ExpressSection 80C is the go-to avenue for availing tax deduction for most tax payers. However, if you have exhausted the Rs 1.5-lakh limit, here are some tax-saving ...
Three years into soda tax, sugary drink consumption down more than 50 percent in Berkeley: Taxes may be a promising new tool in the fight again obesity, cardiovascular disease and diabetes  Science DailyConsumption of sugary drinks dropped 52 percent among Berkeley's low-income residents in the three years after the city enacted a penny-per-ounce excise tax ...
New retirement mutual funds don’t offer Sec 80C tax benefit. Should you skip them?  Economic TimesMost mutual funds investors invest mainly to build their retirement fund. No wonder, the recent launch of retirement funds has caught their attention.
Social Security and Taxes: The Faults of Our Defaults  National ReviewDemocratic economists Furman and Summers are judging policy against a baseline in which spending and taxes keep going up.
Christian tax preparer turns away lesbian couple on religious grounds  Washington PostFor four years, Bailey Brazzel says, she had employed the same tax preparer, Nancy Fivecoate of Carter Tax *Service* in Russiaville, Ind. Fivecoate prepared the ...
Angel tax exemption may be hiked to Rs 25 crore  Economic TimesAngel tax is a term used to refer to the income tax payable on capital raised by unlisted companies via issue of shares.
Budget 2019: No marginal relief for taxpayers whose taxable income exceeds Rs 5 lakh  Economic TimesAlthough the interim budget 2019 has made income up to Rs 5 lakh tax free, the marginal increase in income above Rs 5 lakh will result in more tax outgo than ...
About half of Americans don't know what tax bracket they're now in—here's how to find out  CNBCThe GOP tax bill, which was passed in December 2017, changed American income tax brackets. Here's how to find out which tax bracket you're now in and how ...
Franking credits: How Australia’s highest earners live tax free  NEWS.com.auIt's called “the art of deduction” and it is making sure multi-millionaires pay less tax than ordinary wage earners.
Tax the rich, but bring in only progressive reforms: Bill Gates  Moneycontrol.comCongresswoman Alexandria Ocasio-Cortez has supported the idea of taxing income over $10 million at 70 percent, which is currently 37 percent.
The new tax law has a bunch of changes. Here's what you need to know as filing season begins  CNBCIt's time to sharpen your pencils and work on that 2018 income tax return. Just make sure you understand the new tax law first. After one year under the Tax Cuts ...
Watch Out. Tax Season Is Even More Stressful Than Usual.  The New York TimesWith millions of people filing tax returns under a new tax law and after a long government shutdown, this is a challenging year. We offer survival tips and ...
Taxpayer Alert! Received intimation from I-T Dept u/s 143(1) for amount as low as Rs 4? Here’s what to do  The Financial ExpressMismatch in TDS amount between Form 26AS and what is claimed in the tax return, or a mismatch in salary numbers based on Form 16 are some of the ...
Top banks under taxman’s lens over service tax issue  Economic TimesAt the heart of the matter is the lack of clarity on the tax liability on the annual fees that banks pay multinationals.
Elizabeth Warren’s wealth tax explained  Vox.comA 2 percent levy on assets more than $50 million, and higher rates on billionaires.
'This is a big deal': Murphy joins growing effort to restore your property tax deduction  NJ.comSeveral governors launched a new effort to restore the full federal deduction for state and local taxes.
Imran paid a little over Rs100,000 as tax in 2017  DAWN.comISLAMABAD: The tax payment by Prime Minister Imran Khan fell by about 35 per cent to Rs103,763 in the tax year 2017 from Rs159,609 a year ago, while that ...
Income tax rebate: Towards the ‘right’ rate structure  The Financial ExpressThe economic impact of the recent rebate in income tax announced in Interim Budget is likely to be multi-layered and complex, but mostly beneficial—historically ...
No relief for startups with angel tax orders  Times of IndiaIndia Business News: Commonly known as 'angel tax', the issue gained ground once again in December last year when the tax department started sending ...
High-tax states keep raising taxes, despite residents' exodus: Varney  Fox BusinessMoney and people are leaving high-tax for low-tax states. It's going to be a flood.
Taxes 2019: When to file and what big changes to expect  USA TODAYTax filers need to realize, though, that it won't be business as usual when it comes to filing their 2018 tax returns.
HDFC Bank Sukanya Samriddhi Account: Eligibility, interest rate 2019, income tax benefits, features  Times NowHDFC Bank, India's largest private bank, offers the facility of Sukanya Samriddhi Account (SSA) under which an individual can avail tax benefits of up to Rs 1.5 ...
Trump tax cuts boosted banks to record profits in 2018  Vox.comThe Republican tax cut bill delivered $28.8 billion in bank profits last year.
Taxes 2019: 10 common filing mistakes to avoid this year  USA TODAYMore than 150 million tax returns are expected to be filed to the Internal Revenue *Service* this year. It's likely some may have errors. Don't let it be you.
Warrenton says Shilo Inn owes thousands in unpaid taxes  Daily AstorianWARRENTON — The city is trying to collect more than $125000 of unpaid lodging taxes owed by the Shilo Inn.
Salary structure: I-T Act offers 51 allowances and perquisites with tax saving benefits; How many does your company give you?  The Financial ExpressTax benefits come with a complex rule book, and there are bound to be loopholes and workarounds. But it's up to the HR Manager to guard compliance in those ...
Finance Bill 2019 becomes Act: President okays interim Budget 2019  Economic TimesThe interim budget 2019 finance bill has been assented to by the President on February 21 thereby making it an Act. This means that the proposals in the ...
How Much Do You Have to Make to File Taxes in 2019?  TheStreetYour income, filing status and age all play a role in whether you have to file a tax return and what your requirements are. Here's what you need to know.
When it makes financial sense for married couples to file their taxes separately  MarketWatchWhile most couples benefit from filing a joint tax return, there are some exceptions.
Study: Wisconsin most reliant on property taxes in Midwest  Channel3000.com - WISC-TV3A new report says Wisconsin's municipalities rely on property taxes far more than most states.
SBI Tax Savings Scheme: Interest Rate, Lock-In Period, Other Details  NDTV NewsState Bank of India (SBI), country's largest lender, has urged customers to invest in tax saving schemes to lower their tax burden. "Evaluate your financial goals ...
How to tax the rich  The EconomistDURING HIS lesser-known run for president, which began in 1999, Donald Trump proposed levying a wealth tax on Americans with more than $10m. He may ...
How reachable is zero-tax income level of Rs 5 lakh using deductions, exemptions?  Economic TimesAnjali Behl has not been able to hide her excitement since the Budget was announced on 1 February. “My net income after all deductions will be below Rs 5 ...
10 clever South African tax tips ahead of the February deadline  BusinessTechWhile all eyes were on this week's budget, it is also important to remember that the deadline for provisional taxpayers is on 28 February.
Wall Street, Seeking Big Tax Breaks, Sets Sights on Distressed Main Streets  The New York TimesHedge funds and other wealthy investors are plowing money into so-called opportunity zone funds, a creation of the 2017 tax law that provides incentives for ...
Most Americans Support Increasing Taxes on the Wealthy: Poll  FortuneSupport for raising taxes is widespread, according to a new poll, which found that 76% of registered voters want the wealthiest Americans to pay more.
Richest in U.S. Have a Few Tricks to Avoid Democrats' Tax Plans  BloombergIf Democrats want the wealthy to pay more into the U.S. Treasury, they'll need to contend with one fact: the rich are very good at dodging taxes.
People are getting smaller IRS refunds because they didn't adjust their paycheck withholding, says Trump's tax law writer GOP Rep. Kevin Brady  CNBCGOP Rep. Kevin Brady says Americans are seeing smaller 2018 refunds because they got more of their own money in their paychecks.
For Democrats Aiming Taxes at the Superrich, ‘the Moment Belongs to the Bold’  The New York TimesThe only thing more startling than the flurry of tax proposals Democrats have unveiled in recent weeks is the full-throttle response they've gotten from the public.
New Zealand plans new tax for giants like Google, Facebook  ETTelecom.comNew Zealand's government announced plans on Monday for a new tax targeting online giants like Google and Facebook that earn plenty of money in the cou..
The impact & significance of tax changes  Economic TimesThe only sector that saw substantive changes in the Finance Bill was real estate.
Supreme Court Admits Mistake and Reverses Law on Tax Deductions for Initial Assessment Year  MoneylifeThe three-judge bench of the Supreme Court, while admitting its mistake, allowed the assessee to take tax benefits for initial assessment years.
Your employer can help you reach zero-tax income level of Rs 5 lakh: Here's how  Economic TimesHere are six benefits that can help the salaried bring down the taxable component of income from the employer.
A wealth tax is a bad idea  CNNDavid A. Andelman, drawing on several European examples, writes that Elizabeth Warren's proposed wealth tax in the United States would likely be an ...
Coinbase Integrates TurboTax to Help US Clients File Crypto Taxes  CoinDeskCoinbase customers who need to file taxes in the U.S. this year can get a boost from TurboTax, the tax-filing software offered by Intuit Consumer Tax Group.
Want to reduce your taxable income to Rs 5 lakh? Here's a list of all deductions you can claim  Economic TimesInterim Budget 2019 has proposed rebate under Section 87A on full income tax liability for all those earning up to Rs 5 lakh taxable income for FY2019-20.
Democrats Want to Tax the Wealthy. Many Voters Agree.  The New York TimesA proposal to tax wealth finds support across party lines, along with the premise that the government should combat inequality.
Income tax changes introduced by the BJP govt in the past 5 budgets  Economic TimesHere's a look at the various personal tax changes introduced by the BJP-led government in the last five Budgets.
Harshad Mehta scam: Family free of over Rs 2,000cr income tax demand after 27 years  Moneycontrol.comThe tax refunds following favourable court orders would eventually pave the way for the custodian to release the assets of the Mehtas.
Taking this step when filing your taxes can help you avoid a gross negligence penalty from the CRA  Financial PostJamie Golombek: Take the time to ensure you can back everything up with proper proof, or it could come back to bite you, as one taxpayer learned.
Alabama GOP to consider stance on gas tax bill for roads  AL.comThe Alabama Republican Party holds its annual winter meeting Saturday in Birmingham and could take a stance on the expected proposal to increase the state ...
Karnataka businessman jailed for income tax default of Rs 7.35 crore  The News MinuteA Karnataka-based businessman has been jailed for six months for allegedly not filing his income tax arrears and interest of around Rs 7.35 crore despite ...
Budget: land tax hike for bigger homes  Royal GazetteLand taxes for owners of larger homes will be hiked from from April, the Minister of Finance said today.Curtis Dickinson's first Budget will reduce tax on ...
Gov. J.B. Pritzker wants a 5-cent bag tax across Illinois. Shoppers aren't buying it.  Chicago TribuneFor more than two years, Chicagoans have struggled with a nagging decision at grocery stores and other retailers – pay 7 cents for a disposable bag, ...
Netflix 'didn't pay a dime in state OR federal income taxes last year and even got a $22m REBATE'  Daily MailThe Institute on Taxation and Economic Policy said corporations like Netflix are still 'exploiting loopholes' under the Tax Cuts and Jobs Act. The streaming giant's ...
How a salaried person with income up to Rs 7.75 lakh can now pay zero tax  Economic TimesGoing by the Budget 2019 proposals, a salaried individual with gross total income up to Rs 7.75 lakh can invest in various tax saving avenues and avail of ...
Tax reforms, not coercion, will boost revenues  LivemintFirst four years of UPA-I saw faster growth in direct tax-to-GDP ratio than the first four years of the Modi regime, despite the absence of comparable aggressive ...
Opinion | Relief from angel tax will boost startup ecosystem  Moneycontrol.comThe government has tried to address most of the concerns of the startup community.
'A' Khatas for tax-paying properties, moolah for BBMP  Deccan HeraldAfter years of confusion, the Bruhat Bengaluru Mahanagara Palike (BBMP) is set to fully legalise all the 'B' Khata properties in its jurisdiction. This means any ...

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