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State income tax rates

Topic closed. 7 replies. Last post 10 years ago by keystonechas.

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Thomas Covenant's avatar - money
South Carolina
United States
Member #491
July 16, 2002
837 Posts
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Posted: May 8, 2004, 11:31 am - IP Logged

The following states levy no income tax on earned income and no income tax on unearned income (interest and dividends):



    * Alaska

    * Florida

    * Nevada

    * South Dakota

    * Texas

    * Washington

    * Wyoming



The following states levy no income tax on earned income however they do levy income tax on unearned income (interest and dividends):



* New Hampshire 5% tax on dividends & interest above $2,400

* Tennessee 6% on all dividends & interest.



The following states levy the following MAXIMUM income tax:



    * Alabama 5% above $3,000

    * Arizona 5.04% above $150,000

    * Arkansas 7% above $25,000

    * California 9.3% above $37,725

    * Colorado 4.63% flat tax rate

    * Connecticut 4.5% above $10,000

    * Delaware 5.95% above $60,000

    * District of Columbia 9.3% above $40,000

    * Georgia 6% above $7,000

    * Hawaii 8.3% above $80,000

    * Idaho 7.8% above $20,000

    * Illinois 3% flat tax rate

    * Indiana 3.4% flat tax rate

    * Iowa 8.98% above $54,495

    * Kansas 6.45% above $30,000

    * Kentucky 6% above $8,000

    * Louisiana 6% above $50,000

    * Maine 8.5% above $16,500

    * Maryland 4.75% above $3,000

    * Mass. 5.3% flat tax rate

    * Michigan 4.1% flat tax rate

    * Minnesota 7.85% above $61,461

    * Mississippi 5% above $10,000

    * Missouri 6% above $9,000

    * Montana 11% above $75,400

    * Nebraska 6.68% above $26,500

    * New Jersey 6.37% above $75,000

    * New Mexico 8.2% above $65,000

    * New York 6.85% above $20,000

    * North Carolina 8.25% above $120,000

    * North Dakota 5.54% above $311,950

    * Ohio 7.5% over $200,000

    * Oklahoma 6.65% over $10,000

    * Oregon 9% over $6,250

    * Pennsylvania 2.8% flat tax rate

    * Rhode Island 25% of Federal tax liability

    * South Carolina 7% over $12,000

    * Utah 7% over $4,313

    * Vermont 24% of Federal tax liability

    * Virginia 5.75% over $17,000

    * West Virginia 6.5% over $60,000

* Wisconsin 6.75% over $124,200




Okay, now I believe you can predict lottery numbers

    Avatar
    Columbia,Pa
    United States
    Member #3522
    January 27, 2004
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    Posted: May 8, 2004, 12:03 pm - IP Logged

    Gee thanks for reminding me why my butt hurts all the time!

    How many states have a inhertance tax or what we fondly call the death tax in the state of Pennsyvania? If your related by blood or marriage expect to pay around 4%. If not blood related the state has its hand out for around 12%.

    Chas

      Todd's avatar - Cylon 2.gif
      Chief Bottle Washer
      New Jersey
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      May 31, 2000
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      Posted: May 8, 2004, 12:32 pm - IP Logged

      That list doesn't include what states deduct taxes from lottery prizes.

      For example, although your list has New Jersey at 6.37% above $75,000, they do not tax lottery winnings at all, so you only have to pay Federal taxes.

      There are several other states like that.

       

      Check the State Lottery Report Card
      What grade did your lottery earn?

       

      Sign the Petition for True Lottery Drawings
      Help eliminate computerized drawings!

        DoctorEw220's avatar - alien helmet.jpg
        Yinzer Country, PA
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        March 18, 2004
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        Posted: May 8, 2004, 12:44 pm - IP Logged

        yeah.  for example, PA and WV do not deduct state raxes from winnings

        I've redone my website.  Go to www.dr-ew.com.  I kept a lot of the old stuff, and I've added some new stuff.  Look for more new stuff in the coming weeks.

          hypersoniq's avatar - 8ball
          Pennsylvania
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          April 6, 2003
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          Posted: May 9, 2004, 7:57 am - IP Logged

          PA exempts winners from state AND local taxes on lottery winnings for PA residents.

          Playing more than one ticket per game is betting against yourself.

            Avatar
            Columbia,Pa
            United States
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            January 27, 2004
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            Posted: May 9, 2004, 8:19 am - IP Logged
            Quote: Originally posted by hypersoniq on May 09, 2004


            PA exempts winners from state AND local taxes on lottery winnings for PA residents.



            Only if those winnings were won on games within the state.

            If the winnings come from another state, you pay Pa state income tax.

            I know, since for the past three years I paid Pa income tax on slot winnings from Delaware park. $1,200 or above they give you a W2-G form right there on the spot. 

            Chas

              hypersoniq's avatar - 8ball
              Pennsylvania
              United States
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              April 6, 2003
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              Posted: May 9, 2004, 8:45 am - IP Logged

              good point.

              Playing more than one ticket per game is betting against yourself.

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                Columbia,Pa
                United States
                Member #3522
                January 27, 2004
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                Posted: May 9, 2004, 8:56 am - IP Logged

                I always caution folks to check their state income tax law carefully. Don't buy a Powerball ticket in another state when they sell them within your own. You may end up with a needless tax bill.

                Chas