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State income tax systems fall into three broad categories: fixed or flat income taxes, progressive income taxes and no income taxes. ... Washington. No State Income Tax. West Virginia. 2.22% to 4. ...
For large businesses, the 0.55% Business Enterprise Tax is essentially an income tax. The state also has a 7.5% (2024) Business Profits Tax. [16] South Dakota – no individual income tax but has a state franchise income tax on financial institutions. [17] Tennessee – has no individual income tax.
We rate the best tax software solutions — from budget-friendly options for straightforward returns to feature-rich platforms for more complex situations — to help simplify the 2025 tax season.
Prior to the passage of the capital gains tax, Washington State had the most regressive tax system of any state in the US. [9] The wealthiest 1% paid just 3% of their income in state taxes, while the poorest 20% paid 17.8%. [10] Advocates had long proposed a capital gains tax in order to help reduce this gap.
The IRS Direct File program, which lets taxpayers file their federal income tax return directly with the IRS for free, is doubling its reach to 25 states for the 2025 tax season, up from 12 states ...
2024 Washington Initiative 2124 – Proposal to make employee participation in state long-term care program voluntary November 19–20: The November 2024 Northeast Pacific bomb cyclone resulted in over 600,000 people in the Seattle area without electricity, and killed two Washington individuals.
Utah taxes Social Security benefits at its flat state income tax rate of 4.55% in 2024. But seniors and retirees may qualify for one of two tax credits: ... While these states and Washington, D.C ...
The Internal Revenue Service has announced that IRS Free File will begin accepting individual tax returns as of Jan. 10, 2025, for the 2024 tax season.