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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]
Median household income and taxes State Tax Burdens 2022 % of income. 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 ...
Here’s what you need to know about state income tax rates, ... Take Arizona, for example, which has tax brackets at an exacting 2.59 percent, 2.88 percent, 3.36 percent, 4.24 percent and 4.54 ...
The composition of the state's economy is moderately diverse; although health care, transportation and the government remain the largest sectors. Arizona's per capita income was $61,652 in 2023, ranking 33rd in the U.S. [ 2] The state had a median household income of $74,568, making it 19th in the country and just below the U.S. national mean.
Arizona, Phoenix. Arizona. Take-home pay: $140,562 ... Although the top state income tax rate kicks in on incomes of just $10,000 for both single and joint filers, the rate tops out at just 5%. A ...
Income tax rate (65+): 2.50%. There’s a reason Arizona is a haven for retirees. ... effective state property tax rate, and 4) state marginal income tax rate that would apply to the 2021 national ...
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