Tuesday, November 23, 2010

States with the highest income tax rates

Pay attention to the economies of individual states. If push comes to shove, and there will be pushing and shoving to come, you'll want to track the winners and losers.

Here from Forbes are the highest state income tax rates for 2011.
  1. Hawaii:  11% ($200,000 single/$400,000 married)
  2. Oregon:  11% ($250,000 single/$500,000 married)
  3. California:  10.3% ($1,000,000 single & married)
  4. Iowa:  8.98% ($64,755 single & married)
  5. New Jersey:  8.97% ($500,000 single & married)
  6. New York:  8.97% ($500,000 single & married)
  7. Vermont:  8.97% ($379,150 single & married)
  8. Maine:  8.5% ($19,750 single, $39,550 married)
  9. Washington, D.C.:  8.5% ($40,000 single & married)
  10. Minnesota:  7.85% ($74,780 single, $132,220 married)
(TaxProf Blog)

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