#3 Arkansas
While this change will not impact every taxpayer individually, it is something that could be a silver lining for those who are still in the workforce and might be thinking of asking for a raise. This is because the state has decided to reduce the percentage of income tax collected from corporations, reducing the previous 6.2% to 5.9%. Many experts believe that this change will have a positive impact on workers and result in higher wages.
After all, Arkansas is one of the few states that has shown an MO of lowering their income tax rates, as they have done in recent years, dropping the individual rate to 5.5% from 5.9%.
Last spring I heard the our state (Maryland) had passed legislation giving retirees a break on income taxes. I have yet to find out what that break is.
Well I am waiting to see what the rate for retirees. It’s crazy that they want to take away our hard earned money, working 50-60 hrs per week and save in a IRA now they are going to raise taxes to take care of illegals. Something is NOT right with this picture. It’s OUR money, not the governments.
Although, I do not make a big salary on my job, but, I am affected bytax prices. I will never vote for Dem’s.
I need more info please?
Just another way for the wealthiest of us to keep their money! If you want to impress me with tax break maybe cut the ridiculously high property tax’s in Iowa. Property taxes should not be a bigger monthly payment then your mortgage principle balance but it is?