2006 and 2007 Personal Income Tax Rates for the 50 States and DC
2006 and 2007 personal income tax rates for the 50 states and D.C.
The Skilled Investor has made available for downloading a spreadsheet that contains graduated personal income tax rates and other personal income tax rate information for the 50 states and the District of Columbia.
If you want to know about specific U.S. state personal graduated income tax rates for the 50 states and the District of Columbia, The Skilled Investor has published this information. A Microsoft Excel file is now available for downloading that includes these state income tax rates for both the “single” and “married, filing jointly” filing categories. This information may be useful to you, if you are considering, for example, whether to relocate to another state for work or for retirement.
The Skilled Investor compiled this information by visiting state government tax administration and legislative websites. Typically, the information compiled came from state personal tax documents and employer withholding information documents. In some cases, the information came from legislative documents. You will find that some of the state personal income tax rate information in this file is for the 2006 tax year (28 states) and some is for the 2007 tax year (22 states and D.C.). The tax administrators of many states are currently focused on filings for the 2006 tax year, so 2007 income tax rates have not yet been posted for many states. This file also contains some notes related to which states have no income taxes, flat tax rates, graduated tax rates, or other tax structures.
We have made an effort to ensure that this tax rate information is accurate. However, if you find any inaccuracies or you can point us to state sources with updated 2007 tax year information, please let us know by using the comment function below. All comments are moderated, so your comment will not post publicly, unless you make such a request.
To download this file, go to The Skilled Investor’s Downloads page. Scroll to the bottom and select the state tax rate document. Click on the “Download” floppy disk icon and accept the disclaimer. A dialog box will open asking whether to open the file directly with Excel or to save it to your hard disk. This process should be familiar to anyone who has downloaded any website files before.
You might also want to note that the Federation of Tax Administrators provides substantial additional information on state and local taxes. However, their state income tax rate information is not as timely as this file provided by The Skilled Investor, and the FTA does not specify particular taxable income tax rate breakpoints for states with graduated income tax rates. According to the FTA website, the FTA “was organized in 1937 to improve the quality of state tax administration by providing services to state tax authorities and administrators.” To find the FTA’s state tax information go to: http://www.taxadmin.org/ and click on “State Comparisons” to the left, then “Tax Rates.” In addition to state income tax information, you will find information on sales taxes, excise taxes, and other taxes at the state level.
Tags: personal income tax
Personal Financial Planning
- Reduce investment expenses and control taxation – Step 7 of 10 Financial Planning Steps in the Right Direction (CLICK HERE TO READ THE SKILLED INVESTOR's OTHER ARTICLES ABOUT THESE "10 FINANCIAL PLANNING STEPS IN THE RIGHT DIRECTION
Even with optimal investment strategies, there is still substantial room to improve upon net investment performance through continued and vigilant focus on controlling investment costs and tax realization.
The fees extracted by the financial securities industry increased substantially [...])
- Most Individual Investors Are Poor Personal Portfolio Managers (Most individual investors are poor investment portfolio managers
Investors more easily understand investment costs that are directly measurable, such as fees deducted on investment statements. However, many investors ignore or are unaware of the “opportunity costs” of their sub-optimal investment behaviors. Opportunity costs are usually much more difficult to measure directly, but these investment costs can [...])
- 10 Lower Cost S and P 500 Index Mutual Funds (10 Lower Cost S&P 500 Index Mutual Funds
Regular readers know that The Skilled Investor advocates a very boring, low cost, broad market, passive index investment strategy. Costs less. Gets the broad market return -- whatever that will be. Narrows the range of outcomes and therefore the risk to your long-term personal financial plan. Takes far [...])
- No Financial Planning Software or Calculator Can Predict the Future (No financial planning software and no investment growth calculator can predict the future
The future is simply not predictable, even with automated financial planning software.
A previous financial article, “The Solution - ONLY follow financial strategies that are scientific, passive, diversified, savings focused, risk controlled, low cost, and tax efficient,” suggested that investors are much better off [...])
- My Treasure Is Taken by My Credit Card Company (
PIRATES OF THE CREDIT SEA - Part 1: My Treasure Is Taken!
Regular readers of The Skilled Investor have already been warned previously of the general dangers of consumer debt and of the risks associated with credit cards. Now, The Skilled Investor has himself become ensnared. In a series of articles, I will: A) summarize my [...])
- Set a Minimum Portfolio Size Threshold for Mutual Funds and ETFs (
Choose mutual funds and ETFs with a minimum economical portfolio size
If you are going to invest in actively managed funds, then you should want them to have a sufficiently large asset base to fund the necessary research.
If an active fund is too small, then fund management quality can suffer or fees could grow. Index funds [...])
- Rational Mutual Fund and ETF Screening Rules (Scientific mutual fund and ETF screening criteria: a summary
Scientifically based selection criteria are rational methods to screen mutual funds and ETFs.
Recently, The Skilled Investor Blog published a series of articles on scientifically based selection criteria for mutual funds and exchange traded funds (ETFs). These screening rules help you to winnow down the thousands of available [...])
- Savings Rates for Renters and Investment Cost Reductions (Pre-retirement savings rates for renters - with and without investment cost improvements
Improving on Fran and Fred's lifetime financial plan through lower investment costs
Fran and Fred Frugal, both age 30, are a married working couple with $100,000 in combined annual earned income. They want to understand how valuable different personal finance strategies could be to their [...])
- Conclusion of the Biggest Personal Finance Story of the Past 30 Years ( < <-- Go to Part 4
The Biggest Personal Finance Story of the Past 30 Years - Conclusion
This article concludes our series on the greatest personal finance story of the past thirty years. In this article, we discuss whether the dramatic growth in equity value of the financial services sector indicates that securities markets are [...])
- Roth IRA Contributions Versus Traditional IRA Contributions for Renters (Introduction: Roth IRA Contributions versus Traditional IRA Contributions for Renters
In a series of articles, The Skilled Investor compares different lifetime financial planning projections for Fran and Fred Frugal to illustrate the relative value of adopting different financial planning strategies. Fran and Fred, both ages 30, are a married working couple with $100,000 in combined annual [...])
- Use Scientifically Based Financial Planning Strategies (VeriPlan is designed to help you pursue scientifically based financial planning strategies
VeriPlan offers you unprecedented direct control to perform your own automated personal financial planning. VeriPlan's functionality also implements the principles of scientific finance. VeriPlan's internal documentation and its links to information on the web help you to understand scientifically based personal financial planning and [...])
- Avoid Very Large Actively Managed Mutual Funds (
Avoid very large actively managed mutual funds
Big actively managed mutual fund portfolio positions and higher percentage ownership of any company’s bonds or common stock are not good things for actively managed mutual funds. Nor, are these big positions and high percentages good for you.
Large portfolio size constrains how efficiently an actively managed mutual fund can [...])
- Fund Authority Scores for Stock ETFs and Mutual Funds – Fund maturity and operating efficiency (
Fund Authority Scores rate mutual funds and ETFs on the most important economic factors affecting long term diversified stock or equity investment fund performance. This article explains the investment fund maturity and operating efficiency factors.
<<-- Go to Part 2
Parts 1 and 2 of this article discussed the first three, most heavily weighted factors used in [...])
- Choose objective and competent financial advisers and investment counselors – Step 10 of 10 Financial Planning Steps in the Right Direction (CLICK HERE TO READ THE SKILLED INVESTOR's OTHER ARTICLES ABOUT THESE "10 FINANCIAL PLANNING STEPS IN THE RIGHT DIRECTION
Pick financial and investment advisers solely to obtain objective and high quality advice. Specific financial and investment advice is potentially of high quality, if it is carefully customized to your particular needs and is given by an [...])
- Avoiding Financial Advisor Frauds and Scams – Part 1 (
Part 1 of the The Never-Do List - 22 Good Ways to Avoid Financial Advisor and Investment Counselor Frauds and Scams
This article discusses things that you should “never do” with a financial planner or investment advisor, and it covers adviser selection, contracts, signatures, and ownership title of your assets.
You should never do certain things with [...])
Comments are closed.