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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]
Taxation in the United States. 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 includes the per capita tax collected at the ...
The State Comptroller is the chief fiscal guardian of the State of Connecticut.The duties and responsibilities of the state comptroller include, among other things, overseeing state accounting, preparing state financial reports, paying and administering benefits to state employees, settling demands against the state that do not first have to be approved or adjusted by the General Assembly ...
Overall, five individuals and 11 businesses owe at least $1 million each in various categories, including the state income tax, sales, corporation, and pass-through entity taxes. Forty-four of the ...
U.S. Const. art. I, ยง 8, cl. 3. Comptroller of the Treasury of Maryland v. Wynne, 575 U.S. 542 (2015), is a 2015 U.S. Supreme Court decision that applied the Dormant Commerce Clause doctrine to Maryland 's personal income tax scheme and found that the failure to provide a full credit for income taxes paid to other states was unconstitutional.
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 ...
Federal income tax rates have been modified frequently. Tax rates were changed in 34 of the 97 years between 1913 and 2010. The rate structure has been graduated since the 1913 act. Total tax revenue (not adjusted for inflation) for the U.S. federal government from 1980 to 2009 compared to the amount of revenue coming from individual income taxes
As of 2010, 68.8% of federal individual tax receipts, including payroll taxes, were paid by the top 20% of taxpayers by income group, which earned 50% of all household income. The top 1%, which took home 19.3%, paid 24.2% whereas the bottom 20% paid 0.4% due to deductions and the earned income tax credit.