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Texas is one of only 7 states not to have a state income tax. The state sales tax rate, 6.25%, is above the national medium, with localities adding up to 2% (8.25% total). Texas does have a "back to school" sales tax holiday once a year (generally around the first weekend in August) on clothing and footwear under $100.
Currently, the majority of Utah's aggregate sales taxes are in the range of 6.1 – 8.35%. Utah has a 16.350% sales tax on rental cars in Salt Lake City. [192] The sales tax on food and food ingredients is 3.0% statewide. This includes the state rate of 1.75%, local option rate of 1.0% and county option rate of 0.25%.
State Taxes. The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [1] [2] Proceeds from the tax partly support the Highway Trust Fund. The federal tax was last raised on October 1, 1993, and is not indexed to inflation, which increased 111% from Oct. 1993 until Dec. 2023.
For more details on the sales tax holiday, visit the state comptroller's website or read here. This article originally appeared on Austin American-Statesman: When is Texas' tax free weekend 2023 ...
State income tax rates in Kansas range from 3.1 percent to 5.7 percent. Social Security benefits are exempt from Kansas state income tax if your federal adjusted gross income is $75,000 or less ...
The capital gains tax rate for long-term assets is 0%, 15%, 20%, 25% or 28%. You only pay capital gains tax if you sell an asset for more than you spent to acquire it. The FICA tax rate is 15.3% ...
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. State and local taxes and rules vary by jurisdiction, though many are based on federal concepts and definitions. Taxable income may differ from book income both as to timing of ...
You will pay 2023 tax rates on all money that you collect in 2023. So, if you can defer income or earnings until 2023 you might be able to take advantage of the new rates. For example, some ...