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  2. State and local tax deduction - Wikipedia

    en.wikipedia.org/wiki/State_and_local_tax_deduction

    To help fund the Civil War effort, President Abraham Lincoln signed the Revenue Act of 1862, which established a temporary income tax. [17] [18] The Revenue Act included a deduction for state and local taxes, as well as national taxes. [16] [19] This Civil War-era income tax was repealed in 1871.

  3. Sales taxes in the United States - Wikipedia

    en.wikipedia.org/wiki/Sales_taxes_in_the_United...

    t. e. 0% 3% 6% 9% 12%. State & Local Sales Taxes (2021) Median household income and taxes. State & local sales taxes average. Sales taxes in the United States are taxes placed on the sale or lease of goods and services in the United States.

  4. State income tax - Wikipedia

    en.wikipedia.org/wiki/State_income_tax

    State Tax Burdens 2022 % of income. State tax rules vary widely. The tax rate may be fixed for all income levels and taxpayers of a certain type, or it may be graduated. Tax rates may differ for individuals and corporations. Most states conform to federal rules for determining: gross income, timing of recognition of income and deductions,

  5. State Income Tax Rates Explained - AOL

    www.aol.com/finance/state-income-tax-rates...

    California and Missouri both tip the scales with 10 different tax rates. And sometimes a state’s tax brackets are as easy as 1, 2, 3, like Montana, where the first five tax brackets are 1 ...

  6. Capital gains tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Capital_gains_tax_in_the...

    From 1998 through 2017, tax law keyed the tax rate for long-term capital gains to the taxpayer's tax bracket for ordinary income, and set forth a lower rate for the capital gains. (Short-term capital gains have been taxed at the same rate as ordinary income for this entire period.) [ 16 ] This approach was dropped by the Tax Cuts and Jobs Act ...

  7. Taxation in the United States - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_the_United_States

    Tax rates vary by state and locality, and may be fixed or graduated. Most rates are the same for all types of income. State and local income taxes are imposed in addition to federal income tax. State income tax is allowed as a deduction in computing federal income, but is capped at $10,000 per household since the passage of the 2017 tax law ...

  8. States that tax Social Security benefits — including changes ...

    www.aol.com/finance/states-that-tax-social...

    Colorado. Colorado reduced its income tax rate to 4.25% in May 2024, down from 4.4% in 2023. But if you turn 55 during the tax year, you can write off up to $20,000 in Social Security benefits. As ...

  9. Federal tax revenue by state - Wikipedia

    en.wikipedia.org/wiki/Federal_tax_revenue_by_state

    This is a table of the total federal tax revenue by state, federal district, and territory collected by the U.S. Internal Revenue Service. Gross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state, the District of Columbia, and Puerto Rico. The figure includes all Individual federal taxes and Corporate ...

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