#8 Florida
Florida is seeing changes to the tax laws, but more so at a level where it reverts back to how things used to be. It is the only state that ends up increasing in this area since a tax reform in 2019 previously lowered the income tax rate for corporations.
Thus, the tax rate rose to 5.5% as of January 1st from its lower number last tax season. In an environment where other states are lowering corporate taxes in the hopes of increasing worker wages, it will be interesting to see how long Florida maintains the increase.
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?