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1 Morgan Scarboro, State Individual Income Tax Rates and Brackets for 2018 1 (2018)

handle is hein.taxfoundation/sindvtxb0001 and id is 1 raw text is: State Individual Income Tax Rates and Brackets for 2018 FISCAL FACT Morgan Scarboro No. 576 PolicyAnalyst March 2018 Key Findings: * Individual income taxes are a major source of state government revenue, accounting for 37 percent of state tax collections. * Forty-three states levy individual income taxes. Forty-one tax wage and salary income, while two states-New Hampshire and Tennessee-exclusively tax dividend and interest income. Seven states levy no income tax at all. * Of those states taxing wages, eight have single-rate tax structures, with one rate applying to all taxable income. Conversely, 33 states levy graduated-rate income taxes, with the number of brackets varying widely by state. Hawaii now has 12 brackets, the most in the country. * States' approaches to income taxes vary in other details as well. Some states double their single-bracket widths for married filers to avoid the marriage penalty. Some states index tax brackets, exemptions, and deductions for inflation; many others do not. Some states tie their standard deductions and personal exemptions to the federal tax code, while others set their own or offer none at all. The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and local levels. We are a 501(c)(3) nonprofit organization. @2018 Tax Foundation Distributed under Creative Commons CC-BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org

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