Category Archives: States
You are allowed to deduct state taxes on your Federal income tax return. Additionally, many states allow you to deduct any taxes you paid to other states. So it only seems logical that you should be able to deduct Federal income tax when filing your state return. However, only six of the 41 states with […]
— Read moreAt tax time, determining your resident status might be confusing. Aside from being a four year resident of the state in which you live, there are two other statuses that you may fall under: Part-Year resident and nonresident. A part-year resident has only spent a portion of the tax year within the state, while a […]
— Read moreThere are seven states within the United States which employ a flat rate income tax. All taxpayers receive the same rate independent of the total amount of their earned income. Support of this type of tax system is fairly split between those who agree and those who oppose. Some suggest it is a fair system […]
— Read moreIf you pay taxes to another state for income earned within that state, but it is not the state in which you reside, you will be filing a nonresident tax return. Usually you have to file these returns in addition to returns four income earned in your home state. Here’s what you need to know […]
— Read moreIf you earn income in a state that you don’t live in, or if you receive any of type of income in another state, when tax times rolls around, you’ll likely have to file a nonresident tax return. The process doesn’t have to be complicated. To start out, you have to determine the exact amount […]
— Read moreMany major cities, or even those close to the border of a neighboring state, have a significant portion of taxpayers who travel from another state to work there. For example, many New Jersey residents work in New York City, or Marylanders may drive to Virginia. It may not seem like a hassle to cross the […]
— Read moreWisconsin has a state income tax that ranges from 4.4% to 7.65%, this range is broken up into 4 tax brackets. Single Tax Payers; Up to $10,910 at 4.4% $10,901 to $21,820 at 5.84% $21,821 to $240,190 at 6.27% $240,191 and above at 7.65% Married Filing Jointly Payers; Up to $14,540 at 4.4% $14,541 to […]
— Read moreThe state of West Virginia taxes it residents at the following rates, regardless of filing status. Up to $10,000 at 3% $10,001 to $25,000 at 4% $25,001 to $40,000 at 4.5% $40,001 to $60,000 at 6% $60,001 and above at 6.5% West Virginia taxes Social Security benefits to the extent that they are taxed by […]
— Read moreTennessee does not levy a tax on wages and salaries, although income from stocks, bonds and notes received are not exempt from income taxes, these items are taxed at a rate of 6%. Persons who utilize a filing status of single are exempt from paying taxes on the first $1,250 of taxable income, additionally joint […]
— Read moreThe state of Ohio taxes income at the following rates; The First $5,200 is taxed at .537% $5,201 to $10,400 at 1.074% $10,401 to $15,560 at 2.148% $15,561 to $20,900 at 2.686% $20,901 to $41,700 at 3.222% $41,701 to $83,350 at 3.760% $83,351 to $104,250 at 4.296% $104,251 to $208,500 at 4.988% $208,501 to above […]
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