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23. Massachusetts. State sales and average local tax: 6.25%. State tax on Social Security: None. Effective property tax: 1.44%. Income tax rate (65+): 4.25%. Despite its nickname "Taxachusetts ...
As our annual State-by-State Guide to Taxes shows, state tax rates are literally all over the map--and the difference between living in a high-tax or a low-tax state can be thousands of dollars ...
The Tax Foundation's 2023 State Business Tax Climate Index ranks all 50 states on how well their respective tax systems encourage economic growth.
1660. 1. 2. CNBC: "America's Top States For Business 2011". Previously in the 2010 report, Virginia was ranked as number 2 and in the 2009 report, Virginia was ranked as number 1. Virginia's current Governor is Bob McDonnell (R). The state's population is 8,001,024, with a GDP (2009 per capita) of $46,609.
Corporate tax is imposed in the United States at the federal, most state, and some local levels on the income of entities treated for tax purposes as corporations. Since January 1, 2018, the nominal federal corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017.
Franchise taxes in Delaware are higher than in most other states which typically get revenue from corporate income taxes on the portion of the corporation's business done in that state. Delaware's franchise taxes supply about one-fifth of its state revenue. In February 2013, The Economist published an article on tax-friendly jurisdictions ...
SEE ALSO: The 10 Least Tax-Friendly States in the U.S. Updated for 2018, here is our list of the 10 most tax-friendly states in the U.S. The top five states on our list have no state income tax at ...
This resembles a sales tax, but unlike most states' sales taxes it applies to services, as well as tangible goods. Normally, the provider or seller passes the tax on to the purchaser, but legal incidence and burden apply to the business, as an excise tax. At the state level, gross receipts on most types of transactions are taxed at a rate of 5. ...
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