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State Income Tax: Depends on Where You Live or Work

State Income Tax Rates

State Income Tax: Depends on Where You Live or Work

Townsend Asset Management Corp. | Sep 14, 2021
Categories
State Income Tax

Eight states have no state income tax. Of the 42 states with a state income tax (and the District of Columbia), the top marginal income tax rate ranges from 2.9% to 13.3%. Most states (and D.C.) with an income tax have multiple tax brackets with graduated rates; nine states have only a single tax rate.

Source: Tax Foundation, Fiscal Fact No. 750, February 2021

This content is developed from third-party sources believed to be providing reliable information, however their accuracy and completeness cannot be guaranteed. This content should not be construed as tax advice. You should always consult with your tax professional regarding specific tax questions and obligations. This material has been prepared by a third party, Broadridge, that is unaffiliated with Townsend Asset Management Corp. and is provided for informational purposes only. The opinions herein may not represent the views of Townsend or its affiliates. Townsend has obtained permission to distribute this material. Townsend Asset Management Corp. is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about the firm can be found in its Form ADV Part 2, which is available upon request. TAM-21-66.

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