State personal income tax rates in VeriPlan

The current release of VeriPlan provides recent state personal income tax rate tables for the fifty United States and the District of Columbia. So that VeriPlan will remain a useful personal financial decision support tool to you across the years, VeriPlan is designed to prevent obsolescence. If you wish, you can update the particular personal state income tax rates that you are using in VeriPlan to reflect more current state income tax rate information.

Instead of altering its original state income tax data directly, VeriPlan uses the same method that it provides for modifying and updating U.S. federal income tax rates. VeriPlan allows you to fill in an alternative personal state income tax rate data entry table. When you select your revised state income tax rate schedule, VeriPlan will develop projections automatically using the revised state income tax rate table that you have supplied. Using this method, we can ensure that the state personal income tax rate schedules supplied with VeriPlan will remain intact and will not be overwritten. This permits you later, for example, to select another state for your personal financial planning, if you are considering moving to that state soon.

From time to time and at least annually, we update our collection of U.S. state income tax rates for our new releases.

While we try to make reasonable efforts to ensure that we have the most current and accurate state income tax rate schedules, we do not guarantee that these tax rates are the latest. In general, while you are being taxed in the current calendar tax year, in the first half of the calendar year state income tax authorities are focused on the previous calendar year, because that is when they are receiving tax returns for the prior year. Many states tend not to publish prominently any tax rate information for the current year to avoid confusing citizens who are filing taxes for the previous calendar year. We dig to find current state tax information, but it is not always available. If tax information for the current calendar year is not available, then VeriPlan will include the state tax rate schedule for the previous calendar year.