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The Curious Bag
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State tax is a percentage-based fee charged against the income or property of each resident in the state. The tax percentages charged in each state vary.
State Income Tax
State income tax is a percentage charged against the individual income of each person in a state. Alaska, Florida, Texas, New Hampshire, Nevada, South Dakota, and Tennessee do not have a state income tax.
State Property Tax
Every state charges property taxes, and the tax rates are different in each state. The amount paid to the state for property tax each year is based on the property tax percentage in the state and the total value of the property being taxed.
State Corporate Tax
Corporate tax is a percentage rate of the income that a corporation in state makes each year. Wyoming, Washington, Nevada, Texas and South Dakota do not have a corporate tax.
State Excise Tax
States charge excise tax on certain items such as gas, alcohol and tobacco. The amount of tax paid is relative the amount purchased. The excise tax rates vary in each state.
State Sales Tax
Sales tax is a percentage of the retail sale price charged by a state on a taxable item. The sales tax percentage in each state is different.
Source:
Federation of Tax Administrators
More Information:
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