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State income tax is imposed at a fixed or graduated rate on taxable income of individuals, corporations, and certain estates and trusts. These tax rates vary by state and by entity type. Taxable income conforms closely to federal taxable income in most states with limited modifications. [2]
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly. This table ...
Here are the standard tax brackets for the states with progressive income tax rates: ... Here’s what you need to know about state income tax rates, ... Connecticut. 3.00%-5.50% = $0-$100,000 ...
State. Tax Rate Range. Income Range for Tax Brackets. Alabama. 3 Brackets: 2% to 5%. $500 to $3,001. Arkansas. 5 Brackets: 2% to 4.9%. $5,100 to $87,000. California
Connecticut. Connecticut’s state income tax rate ranges from 2 percent to 6.99 percent. In general, Social Security benefits that are taxable at the federal level are also subject to Connecticut ...
The total gross state product for Connecticut for 2012 was $229.3 billion, up from $225.4 billion in 2011. [1] Connecticut's per capita personal income in 2013 was estimated at $60,847, the highest of any state. [2] There is, however, a great disparity in incomes throughout the state; after New York, Connecticut had the second largest gap ...
Connecticut. Take-home pay: $134,712. Although Connecticut has a high top-end state income tax rate of 6.99%, it only applies on single incomes of $500,000-plus or joint incomes of at least $1 ...
Tax rates vary by state and locality, and may be fixed or graduated. Most rates are the same for all types of income. State and local income taxes are imposed in addition to federal income tax. State income tax is allowed as a deduction in computing federal income, but is capped at $10,000 per household since the passage of the 2017 tax law ...
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