|
State
|
Symbol
|
Min
Income Tax Rate
|
Max
Income Tax Rate
|
ST
Cap Gains Rate
|
LT
Cap Gains Rate
|
Deduct
Conributions?
|
Notes
|
| Alabama | AL | 2.00 | 5.00 | 5.00 | 5.00 | Yes | |
| Alaska | AK | 0.00 | 0.00 | 0.00 | 0.00 | No | No state income tax |
| Arizona | AZ | 2.87 | 5.04 | 5.04 | 5.04 | Yes | |
| Arkansas | AR | 1.00 | 6.50 | 6.50 | 4.55 | Yes | Capital gain rate is 70% of state income tax rate for long term gains |
| California | CA | 1.00 | 9.30 | 9.30 | 9.30 | Yes | |
| Colorado | CO | 4.63 | 4.63 | 4.63 | 4.63 | Yes | Allows $1200 ($2400 married) credit for interest, dividends, and capital gains; No tax on capital gains for in-state businesses. |
| Connecticut | CT | 3.00 | 4.50 | 4.50 | 4.50 | No | |
| Delaware | DE | 2.20 | 5.95 | 5.95 | 5.95 | Yes | |
| Florida | FL | 0.00 | 0.00 | 0.00 | 0.00 | No | No state income tax |
| Georgia | GA | 1.00 | 6.00 | 6.00 | 6.00 | Yes | |
| Hawaii | HI | 1.40 | 8.25 | 8.50 | 8.50 | Yes | |
| Idaho | ID | 1.60 | 7.80 | 7.80 | 7.80 | Yes | 60% reduction in capital gains tax provided for cap gains produced in Idaho |
| Illinois | IL | 3.00 | 3.00 | 3.00 | 3.00 | No | Flat rate |
|
State
|
Symbol
|
Min
Income Tax Rate
|
Max
Income Tax Rate
|
ST
Cap Gains Rate
|
LT
Cap Gains Rate
|
Deduct
Conributions?
|
Notes
|
| Indiana | IN | 3.40 | 3.40 | 3.40 | 3.40 | No | Flat rate |
| Iowa | IA | 0.36 | 8.98 | 8.98 | 8.98 | Yes | |
| Kansas | KS | 3.50 | 6.45 | 6.45 | 6.45 | Yes | |
| Kentucky | KY | 2.00 | 6.00 | 6.00 | 6.00 | Yes | |
| Louisiana | LA | 2.00 | 6.00 | 6.00 | 6.00 | Yes | May deduct 50% of charitable deductions if itemized on federal return |
| Maine | ME | 2.00 | 8.50 | 8.50 | 8.50 | Yes | |
| Maryland | MD | 2.00 | 4.75 | 4.75 | 4.75 | Yes | |
| Massachusetts | MA | 5.30 | 5.30 | 12.00 | 5.00 | No | Flat Rate; Long term gain taxed at lower rates based on length of time security has been held. |
| Michigan | MI | 4.00 | 4.00 | 4.00 | 4.00 | No | Flat rate |
| Minnesota | MN | 5.35 | 7.85 | 7.85 | 7.85 | Yes | |
| Mississippi | MS | 3.00 | 5.00 | 5.00 | 5.00 | Yes | |
| Missouri | MO | 1.50 | 6.00 | 6.00 | 6.00 | Yes | |
| Montana | MT | 2.00 | 11.00 | 11.00 | 11.00 | Yes | |
| Nebraska | NE | 2.56 | 6.84 | 6.84 | 6.84 | Yes | |
| Nevada | NV | 0.00 | 0.00 | 0.00 | 0.00 | No | No state income tax |
| New Hampshire | NH | 0.00 | 0.00 | 0.00 | 0.00 | No | State income tax on dividends and interest only |
| New Jersey | NJ | 1.40 | 6.37 | 6.37 | 6.37 | No | |
| New Mexico | NM | 1.70 | 8.20 | 8.20 | 8.20 | Yes | |
| New York | NY | 4.00 | 6.85 | 6.85 | 6.85 | Yes | |
| North Carolina | NC | 6.00 | 8.25 | 8.25 | 8.25 | Yes | |
|
State
|
Symbol
|
Min
Income Tax Rate
|
Max
Income Tax Rate
|
ST
Cap Gains Rate
|
LT
Cap Gains Rate
|
Deduct
Conributions?
|
Notes
|
| North Dakota | ND | 2.67 | 12.00 | 12.00 | 12.00 | Yes | |
| Ohio | OH | 0.74 | 7.50 | 7.50 | 7.50 | No | |
| Oklahoma | OK | 0.50 | 10.00 | 10.00 | 10.00 | Yes | |
| Oregon | OR | 5.00 | 9.00 | 9.00 | 9.00 | Yes | |
| Pennsylvania | PA | 2.80 | 2.80 | 2.80 | 2.80 | No | Flat rate |
| Rhode Island | RI | 2.50 | 8.75 | 8.75 | 5.00 | Yes | 25% Federal tax liability for income and capital gains |
| South Carolina | SC | 2.50 | 7.00 | 7.00 | 3.92 | Yes | |
| South Dakota | SD | 0.00 | 0.00 | 0.00 | 0.00 | No | No state income tax |
| Tennessee | TN | 0.00 | 0.00 | 0.00 | 0.00 | No | State income tax on dividends and interest only |
| Texas | TX | 0.00 | 0.00 | 0.00 | 0.00 | No | No state income tax |
| Utah | UT | 2.30 | 7.00 | 7.00 | 7.00 | Yes | |
| Vermont | VT | 2.40 | 8.40 | 8.40 | 3.60 | Yes | 24.0% Federal Tax Liability for Income and Cap Gains |
| Virginia | VA | 2.00 | 5.75 | 5.75 | 5.75 | Yes | |
| Washington | WA | 0.00 | 0.00 | 0.00 | 0.00 | No | No state income tax |
| West Virginia | WV | 3.00 | 6.50 | 6.50 | 6.50 | No | |
| Wisconsin | WI | 4.60 | 6.75 | 6.75 | 2.70 | Yes | May receive a 5% tax credit for charitable contributions, even if you don't itemize on your federal return |
| Wyoming | WY | 0.00 | 0.00 | 0.00 | 0.00 | No | No state income tax |
| Dist. of Columbia | DC | 4.50 | 8.70 | 8.70 | 8.70 | Yes |
| Sources: | (1) The Federation of Tax Administrators |
| (2) (see report at http://www.taxadmin.org/fta/rate/ind_inc.html) |