NOTE: Always refer to your local tax tables as they frequently change they are located as links on this page
ALABAMA: For more information Click here
Sales Taxes State Sales Tax: 4% (prescription drugs exempt); The rate can go as high as 12.0% depending on city and county taxes. The state administers over 200 different city and county sales taxes; however, it does not administer all county or city sales taxes. Gasoline Tax: 20.3 cents/gallon Diesel Fuel Tax: 22.7 cents/gallon Gasohol Tax: 20.3 cents/gallon (Local option taxes on fuel may add up to 9 cents.) Cigarette Tax: 42.5 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 2.0%; High - 5.0% Income Brackets: *Lowest - $500; Highest - $3,000 Number of Brackets: 3 Personal Exemptions: Single - $1,500; Married - $3,000; Dependents - $300 Standard Deduction: Single - $2,000; Married filing joint return - $4,000 Medical/Dental Deduction: Limited to excess of 4% of adjusted gross income Federal Income Tax Deduction: Full Retirement Income Taxes: Social Security, military, civil service, state/local government and qualified private pensions are exempt. All out-of-state government pensions are tax-exempt if they are defined benefit plans. Retired Military Pay: Pay and survivor benefits not taxed. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes The state does not collect taxes on personal property such as boats and computers. Its ad valorem (property tax) is 6.5 mills. Each county has its own mileage rate. Homeowners 65 and older are exempt from all county property taxes. Some cities also assess separate property taxes. A homestead exemption up to $5,000 of assessed value is granted by the state on real property taxes. A larger exemption is available to persons over 65 Inheritance and Estate Taxes There is no inheritance tax and the estate tax is limited to federal estate tax collection.
ALASKA: For more information Click here
Sales Taxes State Sales Tax: The state currently does not have a sales and use tax. However, some jurisdictions impose local sales taxes that range up to 6%. Anchorage does not have a sales tax. Gasoline Tax: 8 cents/gallon Diesel Fuel Tax: 8 cents/gallon Gasohol Tax: None Cigarette Tax: $1.60/pack of 20 Personal Income Taxes No state income tax Retirement Income: Not taxed. Property Taxes Property taxes are assessed in 25 of 161 municipalities. Homeowners 65 and older (or surviving spouses 60 and older) are exempt from municipal taxes on the first $150,000 of the assessed value of their property. This also applies to disabled veterans. Intangible personal property is exempt from taxation. Call 907-269-6620 (Anchorage) or 907-465-2320 (Juneau) for details. Inheritance and Estate Taxes There is no inheritance tax and the estate tax is limited to federal estate tax collection.
ARIZONA: For more information Click here
Sales Taxes State Sales Tax: 5.6% (food and prescription drugs exempt). All counties and some cities levy a sales tax that could bring the combined tax rate to 10.7%. Gasoline Tax: 19 cents/gallon Diesel Fuel Tax: 19 cents/gallon Gasohol Tax: 19 cents/gallon Cigarette Tax: $1.18/pack of 20 Water Use Tax: 65 cents per 1,000 gallons of water used. Personal Income Taxes Tax Rate Range: Low - 2.87%; High - 5.04% Income Brackets: * Lowest - $10,000; Highest - $150,000 Number of Brackets: 5 Personal Exemptions: Single - $2,100; Married - $4,200 with no dependents, $6,500 with one dependent; Dependents - $2,300; 65 years or older - $2,100 Standard Deduction Single: - $4,050; Married filing jointly - $8,100 Medical/Dental Deduction: Allows deductions for all qualified medical and dental expenses. Federal Income Tax Deduction: None Retirement Income Taxes: Social Security and Railroad Retirement benefits are exempt. Up to $2,500 total of military, civil service, and Arizona state/local government pensions are also exempt. All out-of-state government pensions are fully taxed. Retired Military Pay: Up to $2,500 of retired pay and/or survivor benefits excluded. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes There is no state property tax. Tax jurisdictions set tax rates, which may vary considerable from one area to another. Property tax is administered by county assessors. Single homeowners 65 and older who earn less than $3,700 and married couples who earn less than $5,500 are eligible for a tax credit of up to $502. Persons at least 65 years old who have resided in their primary residence for at least two years and have total income not more than four times the Social Security supplemental security income (SSI) benefit rate may apply to the assessor by September 1 to have the valuation of the primary residents and up to 10 acres of adjoining undeveloped land frozen at the full cash value when the application is filed. Arizona also taxes personal property, which is defined as all types of property except real estate. Taxable personal property includes property used for commercial, industrial and agricultural purposes. Personal property is considered to be movable and not permanently attached to real estate. In lieu of a personal property tax on automobiles, the state imposes an annual motor vehicle license tax. The fee to register an automobile in Arizona is $8.00 (or $8.25 in metro Phoenix and Tucson, including a 25-cent air quality compliance sticker fee), plus an air quality research fee of $1.50 and a vehicle license tax (VLT). The VLT is based on an assessed value of 60% of the manufacturer's base retail price reduced by 16.25% for each year since the vehicle was first registered in Arizona. As of Dec 1, 2000, the rate is calculated at $2.80 for new vehicles or $2.89 for used ones for each $100 of the assessed value. For example, for a new vehicle that costs $25,000, the first year's assessed value would be $15,000 and the VLT would be $420. The second year the assessed value would be $12,562.00 and the VLT would be $363.06. Inheritance and Estate Taxes There is no inheritance or gift tax and the limited Arizona estate tax is related to federal estate tax collection.
ARKANSAS: For more information Click here
Sales Taxes State Sales Taxes: 6.0% (prescription drugs exempt). City and county sales taxes could add another 5.5%. Gasoline Tax: 21.7 cents/gallon Diesel Fuel Tax 22.7 cents/gallon Gasohol Tax: 21.7 cents/gallon Cigarette Tax: 59 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 1.0%; High - 7.0% * Income Brackets: Lowest - $3,999; Highest - $28,500 Number of Brackets: 6 Tax Credits: Single - $20; Married - $40; Dependents - $20 65 years of age or older - $20 Standard Deduction: Single - $2,000; Married filing jointly - $4,000 Medical/Dental Deduction: Same as Federal taxes Federal Income Tax Deduction: None Retirement Income Taxes: Social Security is exempt. Up to $6,000 in military, civil service, state/local government, and private pensions are exempt. The exemption refers to income from public or private retirement systems, plans or programs. IRA distributions can be included as part of the $6,000 exemption if the taxpayer is 59½ or older. Out-of-state government pensions also qualify for the exemption. Retired Military Pay: Up to $6,000 of federal retirement pay and/or survivor benefits excluded. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Arkansas property taxes are levied by counties, municipalities, and school districts. All households are eligible for a refund of up to $300 regardless of income or age. Political subdivisions collect taxes on real property (house and land) and personal property (motor vehicles, boats and motors, motorcycles and all-terrain vehicles). Assessment is based on 20 percent of the true market value. Homeowners 65 and older have their homestead assessment frozen. Call the Public Service Commission -- Tax Division at 501-682-1231 for details. Inheritance and Estate Taxes Estates are taxed based on the federal estate tax law. The Arkansas tax equals the credit allowed for state death taxes on the federal estate return. Since the state tax is completely offset, there is no additional tax due. There is no inheritance tax.
CALIFORNIA: For more information Clickhere
Sales Taxes State Sales Tax: 7.25% (food and prescription drugs exempt. Tax varies according to locality. Can be as high as 8.75%) Gasoline Tax: * 41.6 cents/gallon Diesel Fuel Tax: * 38.3 cents/gallon Gasohol Tax: * 41.6 cents/gallon Cigarette Tax: 37 cents/pack of 20 plus an additional surcharge of 50 cents per pack, bringing the total to 87 cents. Personal Income Taxes Tax Rate Range: Low - 1.0%; High - 9.3% Income Brackets: * Lowest - $6,319; Highest - $41,477 Number of Brackets: 6 Tax Credits: Single - $85; Married - $170; Dependents - $265; 65 years of age or older - $87 Standard Deduction: Single - $3,254; Married filing jointly - $6,508 Medical/Dental Deduction: Same as Federal taxes Federal Income Tax Deduction: None Retirement Income Taxes: Social Security and Railroad Retirement benefits are exempt. There is a 2.5% tax on early distributions and qualified pensions. All private, local, state and federal pensions are fully taxed. Retired Military Pay: Follows federal tax rules. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Property is assessed at 100% of full cash value. The maximum amount of tax on real estate is limited to 1% of the full cash value. After taxes have been paid, homeowners 62 and older who earn $35,051 or less may file a claim for assistance on 96 percent of property taxes, up to $34,000 of the assessed value of their homes. Call 800-852-5711 or. Homestead exemptions are handled at the county level. Under the homestead program, the first $7,000 of the full value of a homeowner's dwelling is exempt. The state has a property tax postponement program that allows eligible homeowners (seniors, blind and disabled residents) to postpone payments of property taxes on their principal place of residence. Interest is charged on the postponed taxes. For more information, contact the California State Board of Equalization Office -- 800-400-7115. Inheritance and Estate Taxes There is no inheritance tax. However, there is a limited California estate tax related to federal estate tax collection.
COLORADO: For more information Clickhere
Sales Taxes State Sales Tax: 2.9% (food and prescription drugs exempt); many cities and counties have their own rates which are added to the state rate. Total could be as high as 9.9%. Gasoline Tax: 22 cents/gallon Diesel Fuel Tax: 20.5 cents/gallon Gasohol Tax: 22 cents/gallon Cigarette Tax: 84 cents/pack of 20 Personal Income Taxes All taxpayers: 4.63% of Federal taxable income Personal Exemptions/Credits: Federal amounts are automatically adopted. Standard Deduction: None Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Taxes: Taxpayers 55-64 years old can exclude a total of $20,000 for Social Security and qualified retirement income. Those 65 and over can exclude up to $24,000. All out-of-state government pensions qualify for the pension exemption. Retired Military Pay: Same as above. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes The county assessor determines the value of property using a market, cost or income approach. Property taxes are assessed on a percentage of the property's actual value. You can determine your property tax bill by multiplying the assessed value by the local tax rate. A homestead exemption for qualifying seniors and the surviving spouse of a senior who previously qualified is available. Seniors must be at least age 65. It allows 50% (up to a maximum reduction of $100,000) in actual value of a primary residence to be exempt. The state pays the tax on the exempted value. The person must have owned and lived in the home for at least 10 years. The senior property tax exemption was suspended for 2003-2005 and will be available again beginning in 2006. Call 303-866-2371 Inheritance and Estate Taxes There is no inheritance tax and the Colorado estate tax is limited to federal estate tax collection.
CONNECTICUT: For more information Click here
Sales Taxes State Sales Tax: 6% (food, prescription & non-prescription drugs exempt); cigarette tax is $1.51 (package of 20) and $1.89 (package of 25). No additional sales tax is imposed by local jurisdictions. Gasoline Tax: 35.5 cents/gallon Diesel Fuel Tax: 36.5 cents/gallon Gasohol Tax: 34.5 cents/gallon Cigarette Tax: $1.51/pack of 20. Personal Income Taxes Tax Rate Range: Low - 3.0%; High - 5.0% Income Brackets: * Lowest - First $10,000; Highest - Over $10,000 Number of Brackets: 2 Personal Exemptions: ** Single - $12,750; Married - $24,000; Dependents - $0 Standard Deduction: None Medical/Dental Deduction: None Federal Income Tax Deduction: None Retirement Income Taxes: Social Security is exempt for individual taxpayers with federal adjusted gross income of less than $50,000 and for married filing jointly taxpayers, with federal AGI below $60,000. All out-of-state government and federal civil service pensions are fully taxed. Retired Military Pay: Follows federal rules. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Taxes and real and personal property are assessed and collected by individual towns or other taxing districts. All assessments are at 70% of fair market value. An annual property tax credit or rent rebate is available to residents, age 65 or older, or to a surviving spouse of a previously approved applicant who is age 50 or older. Regardless of age, totally disabled persons are also eligible. Income parameters apply. Municipalities may provide additional tax relief for seniors. Call 800-286-2214 or 860-297-5962 for details. Inheritance and Estate Taxes Connecticut imposes an estate tax which taxes the transfer of estates valued at $2 million or more at a progressive rate starting with 5 percent of the first $100,000 over the threshold and rising to 16 percent for the amount above $10 million.
DELAWARE: For more information Clickhere
Sales Taxes State Sales Tax: None Gasoline Tax: 23 cents/gallon Diesel Fuel Tax: Tax 22 cents/gallon Gasohol Tax: 23 cents/gallon Cigarette Tax: 55 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 2.2%; High - 5.95% Income Brackets: Lowest - $5,000; Highest - $60,000 Number of Brackets: 6 Tax Credits: Single - $110; Married - $220; Dependents - $110; Over 60 - take an additional $110 Standard Deduction: None Medical/Dental Deduction: None Federal Income Tax Deduction: None Retirement Income Taxes: Social Security and Railroad Retirement benefits are exempt. Taxpayers 60 and older can exclude $12,500 of investment and qualified pension income. Out-of-state government pensions qualify for the pension and retirement exemption. Under age 60, $2,500 is exempt. Retired Military Pay: Up to $2,000 of military retirement pay excluded for individuals under age 60; $12,500 if 60 or older. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes All real property in the state is subject to tax unless specifically exempt. Personal property, tangible and intangible property is exempt. Real estate is subject to county, school district, vocational school district and municipal property taxes. The state offers various property tax relief programs for residents age 65 and older and for residents with disabilities. Homeowners 65 and older can get a credit equal to half of the school property taxes, up to $500. Inheritance and Estate Taxes The estate tax is coordinated with the federal death tax, whereby the state tax amount is equal to the state death tax credit allowed by federal law. For further information call 302-577-8200.
DISTRICT OF COLUMBIA: For more information Clickhere
Sales Taxes State Sales Tax: 5.75% (food, prescription and non-prescription drugs, residential utility services exempt) Gasoline Tax: 20 cents/gallon Diesel Fuel Tax: 20 cents/gallon Gasohol Tax: 20 cents/gallon Cigarette Tax: $1.00/pack of 20 Personal Income Tax Tax Rate Range: Low - 5%; High - 9.0% Income Brackets: Lowest - $10,000; Highest - $30,000 Number of Brackets: 3 Tax Credits: Single - $1,370; Married - $2,740; Dependents - $1,370 Standard Deduction: Single - $1,000; Married filing joint return - $2,000 Medical/Dental Deduction: Same as Federal taxes Federal Income Tax Deduction: None Retirement Income Taxes: Social Security is exempt. Taxpayers 62 and older can exclude $3,000 of military, federal, and state/local pensions. All state government pensions are fully taxed. Retired Military Pay: Up to $3,000 of military retirement pay excluded for individuals 62 or older, Survivor benefits are taxable. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Property is assessed at 100% of market value. Taxes on owner-occupied real estate are $0.96 per $100 of assessed value. The first $38,000 of assessed value is exempt from taxes. Several property tax relief programs are available to assist property owners and first time home buyers. These include a homestead deduction, tax credits for historic properties, senior citizen tax relief and property tax exemptions and deferrals. Homeowners 65 and older with household adjusted gross income of less than $100,000 receive an additional exemption equal to 50 percent of their homestead deduction. Call 202-727-4829 for details. Inheritance and Estate Taxes There is no inheritance tax and only a limited estate tax.
FLORIDA: For more information Clickhere
Sales Taxes State Sales Tax: 6% (food, prescription and non-prescription drugs exempt). There are additional county sales taxes which could make the combined rate as high as 9.5%. Gasoline Tax: 31.8 cents/gallon Diesel Fuel Tax: * 29.2 cents/gallon Gasohol Tax: 31.8 cents/gallon (Local taxes for gasoline and gasohol vary from 5.5 cents to 17 cents, plus there is a 2.07% gasoline pollution tax.) Cigarette Tax: 33.9 cents/pack of 20 Personal Income Taxes No state income tax Retirement Income: Not taxed. There is an intangibles tax of $1 per $1,000 of the value of investments such as stocks, bonds, notes and mutual funds. The first $250,000 of total taxable assets are exempt. Assets above $250,000 are taxed at $.50 per thousand dollars of value. For joint filers, the first $500,000 of taxable assets are exempt. Assets above $500,ooo are taxed at $.50 per thousand dollars of value. . Property Taxes All property is taxable at 100% of its just valuation. In certain counties and cities homeowners 65 and over can receive a homestead exemption from property tax of $25,000 if their household income, as defined by the federal tax code, is at or below $22,096 per year (2004 figures). The income limitation is adjusted each year based on the cost of living index. In many instances the definition of household income excludes Social Security. Permanent residents may also be entitled to a homestead exemption regardless of age. Residents 65 and older are entitled to both exemptions ($50,000). The senior citizen's homestead exemption applies only to tax millage levied by the county or city, and does not apply to millage of school districts or other taxing authorities. The homestead exemption for all residents applies to all property taxes, not just city and county taxes. Annual increases in the assessment of homestead property are limited to 3% of the prior year's assessed value, or if lower, the percentage change in the Consumer Price Index for the prior, as long as there was no change in ownership Inheritance and Estate Taxes There is no inheritance tax and only a limited estate tax. . For general information on Florida taxes, call 800-352-3671.
GEORGIA: For more information ClickhereSales Taxes State Sales Tax: 4% (food, prescription drugs exempt), local taxes may add an additional 3%. Gasoline Tax: 22.8 cents/gallon Diesel Fuel Tax: 15.7 cents/gallon Gasohol Tax: 22.8 cents/gallon Cigarette Tax: 37 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 1.0%; High - 6% Income Brackets: Lowest - $750; Highest - $7,000 (Married filing joint return) Number of Brackets: 6 Personal Exemptions: Single - $2,700; Married - $5,400; Dependents - $2,700 Standard Deduction: Single - $2,300; Married filing joint return - $3,000; Taxpayer over 65 - $700 additional; Spouse over 65 - $700 additional Medical/Dental Deduction: Same as Federal taxes Federal Income Tax Deduction: None Retirement Income Taxes: Social Security is exempt. Taxpayers 62 and older or disabled may exclude $15,000 in pension and investment income, plus up to $4,000 of earned income. All out-of-state pensions are eligible for the $15,000 exemption. The retirement income exclusion increases to $25,000 for tax year 2006, $30,000 for tax year 2007, and to $35,000 for years 2008 and beyond. Retired Military Pay: Up to $14,000 of military retirement pay excluded for individuals 62 or older, or those permanently and totally disabled; Survivor benefits are taxable. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes A homeowner may pay a combination of county, city, school or state taxes depending on location. Property tax relief measures are included in the state's comprehensive property tax credit law that can be viewed on their web site. Homeowners 62 and older who earn $10,000 or less, will find that up to $10,000 of their property's assessed value is exempt from school taxes. Persons 62 or older whose family income does not exceed $30,000 may qualify for an exemption from state and county property taxes equal to the amount by which the assessed value of the homestead exceeds the assessed value for the preceding tax year. For those 65 and older who earn $10,000 or less, $4,000 of their property's value is exempt from state and county taxes as well. Call 404-968-0778 for details. Inheritance and Estate Taxes There is no inheritance tax and only a limited estate tax.
HAWAII: For more information Clickhere Sales Taxes State Sales Tax: (General Excise Tax) 4% (prescription drugs exempt) Gasoline Tax: 41.7 cents/gallon Diesel Fuel Tax: 40.7 cents/gallon Gasohol Tax: 41.7 cents/gallon (Local option taxes may add 8.8 to 18 cents to fuel tax) Cigarette Tax: $1.40/pack of 20 Personal Income Taxes Tax Rate Range: Low - 1.4%; High - 8.25% Income Brackets: *Lowest - $2,000; Highest - $40,000 Number of Brackets: 9 Personal Exemptions: Single - $1,040; Married - $2,080; Dependents - $1,040 There is an additional exemption for those over age 65. If you are blind, deaf or totally disabled and your impairment has been certified, you can claim a disability exemption of $7,000 in lieu of the $1,040 personal exemption amount. Standard Deduction: Single - $1,500; Married filing joint return - $1,900 Medical/Dental Deduction: Same as Federal taxes Federal Income Tax Deduction: None Retirement Income Taxes: Social Security, military, federal, state/local, and some private pensions are exempt. All out-of-state government pensions are exempt. Retired Military Pay: Not taxed. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Personal property such as cars or boats are not subject to property tax. Real property and land are assessed at 100% "fair market value." Taxes are administered by the four counties. The homestead exemption is $12,000, but is $40,000 in the city and county of Honolulu. Persons 60 to 69 years of age may claim double the homestead exemption, and a person age 70 or older, may claim 2.5 times the homestead exemption. In the city and county of Honolulu, the exemptions are: 55-59 years, 1.5 times the exemption amount; 60-64 years, 2.0 times; 65-69, 2.5 times, and 70 and older, 3.0 times. Homeowners 55 and older are exempt from property taxes on $60,000 to $120,000 (amount depends on owner's age) of the assessed value of their residence, regardless of income. They must pay at least $100 in taxes, however. Homeowners 55 and older who earn less than $20,000 are also eligible for a tax credit of up to $500. Call 808-587-4343 for details. Inheritance and Estate Taxes There is no inheritance tax and only a limited estate tax related to federal estate tax collection.
IDAHO: For more information Clickhere Sales Taxes State Sales Tax: 5% (prescription drugs exempt); Some jurisdictions impose a local option sales tax which could add an additional 3%. Gasoline Tax: 25 cents/gallon Diesel Fuel Tax: 25 cents/gallon Gasohol Tax: 22.5 cents/gallon Cigarette Tax: 57 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 1.6%; High - 7.8% Income Brackets: * Lowest - $1,159; Highest - $23,178 Number of Brackets: 8 Personal Exemptions: ** Single - $3,200; Married - $6,400; Dependents - $3,200 Standard Deduction: Single - $6,250; Married filing jointly - $11,000 (age 65 and older) Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Tax: Social Security income and Tier 1 and Tier 2 Railroad Retirement benefits are exempt from taxes. Taxpayers may receive a partial tax exemption for civil service and military retirement income received after age 65 (62 if disabled). Out-of-state government pensions are fully taxed. Retired Military Pay: Follows federal tax rules. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Taxable property is assessed at its full market value. A general property tax is imposed for local purposes and is limited to 1% of market value. The state property tax is suspended as long as the sales and use tax are in effect. There is no intangible personal property tax. A homeowner's primary residence is eligible for an exemption of 50% of the assessed value of the home, up to a maximum of $50,000. If you are a qualified Idaho homeowner, you may be eligible for the circuit breaker program. To qualify you must own and occupy the home as your primary residence, you must meet income requirements and must be either age 65 or older, a widow(er), blind, former POW, fatherless or motherless minor, or a qualifying disabled person. This program may reduce property taxes on your home and up to one acre of land by as much as $1,200. For more information call 208-334-7733 or 800-972-7660. Inheritance and Estate Taxes There is no inheritance tax and only a limited estate tax related to federal estate tax collection. The estate tax may apply if the gross estate reported to the federal government is $1.5 million or more for deaths in 2004.
ILLINOIS: For more information Clickhere
Sales Taxes State Sales Tax: 6.25% (1% on qualifying food, prescription & non-prescription drugs, medical appliances). Local government taxes can raise the total to a high of 8.5%. Gasoline Tax: * 36.2 cents/gallon Diesel Fuel Tax: 36.6 cents/gallon Gasohol Tax: 36.2 cents/gallon Cigarette Tax: 98 cents/pack of 20 Personal Income Taxes Tax Rate Range: Flat rate of 3% of federal adjusted gross income Personal Exemptions: Single - $2,000; Married - $4,000; Dependents - $2,000 Standard Deduction: None Medical/Dental Deduction: None Federal Income Tax Deduction: None Retirement Income Taxes: Illinois does not tax distributions received from qualified employee benefit plans, including 401(K) plans; an Individual Retirement Account, (IRA) or a self-employee retirement plan; a traditional IRA that has been converted to a Roth IRA; the redemption of U.S. retirement bonds; state and local government deferred compensation plans; a government retirement or government disability plan, including military plans; railroad retirement income; retirement payments to retired partners; a lump sum distribution of appreciated employer securities; and the federally taxed portion of Social Security benefits. Retired Military Pay: Not taxed. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Taxes are imposed by local government taxing districts (counties, townships, municipalities, school districts, and special taxing districts. Most property in the state is assessed at 33.33% of its market value, except farmland which is based on its ability to produce income. Cook County has different criteria. Single family residences are assessed at 16%. General Homestead Exemption is available annually for owner-occupied residential property. The amount of exemption is the increase in the current year's equalized assessed value (EAV), above the 1977 EAV, upto a maximum of $5,000 ($6,000 in Cook County). Senior Citizens Assessment Freeze Homestead Exemption allows senior citizens who have a total household income of less than $40,000, and meet certain other qualifications to elect to maintain the equalized assessed value (EAV) of their homes at the base year EAV thereby preventing any increase in that value due to inflation. Homestead Improvement Exemption is limited to the fair cash value that was added to the homestead property by any new improvement, up to an annual maximum of $75,000. The exemption continues for four years from the date the improvement is completed and occupied. Senior Citizens Homestead Exemption allows a $3,000 reduction ($3,500 in Cook County) in the EAV of the property that a person 65 years of age or older is obligated to pay taxes on, and owns and occupies, or leases and occupies as a residence. Exemption is limited to the fair cash value that was added to the homestead property by any new improvement, up to an annual maximum of $45,000. The exemption continues for four years from the date the improvement is completed and occupied. Disabled Veterans' Exemption may be up to $58,000 of the assessed value for certain types of housing owned and used by a disabled veteran or his or her unmarried surviving spouse. The Illinois Department of Veterans' Affairs determines the eligibility for this exemption, which must be reestablished annually. Senior Citizens Real Estate Tax Deferral Program allows persons age 65 or older, who have a total household income of less than $40,000 and meet certain other qualifications, to defer all or part of their real estate taxes and special assessments. The deferral is similar to a loan against the property's market value and a lien is filed on the property in order to ensure repayment to the deferral. The state pays the property taxes and then recovers the money, plus 6 percent annual interest, when the property is sold or transferred. Inheritance and Estate Taxes There is no inheritance tax and only a limited estate tax related to federal estate tax collection.
INDIANA: For more information Clickhere
Sales Taxes State Sales Tax: 6% (food and prescription drugs exempt) Gasoline Tax: 29.6 cents/gallon Diesel Fuel Tax: * 37.2 cents/gallon Gasohol Tax: 29.6 cents/gallon Cigarette Tax: 55.5 cents/pack of 20 Personal Income Taxes Tax Rate Range: Flat rate of 3.4% of federal adjusted gross income. Many counties also collect income tax. Personal Exemptions: Single - $1,000; Married - $2,000; Dependents - $2,500 Standard Deduction: None Medical/Dental Deduction: None Federal Income Tax Deduction: None Retirement Income Taxes: Social Security is exempt. Taxpayers 62 and older may exclude $2,000 from military and federal pensions minus the amount of Social Security received. Out-of-state pensions are fully taxed. Taxpayers over 65 may be entitled to a tax credit ranging from $40 to $100, depending on federal adjusted gross income. Retired Military Pay: Military retirees who are age 60 are entitled to deduct up to $2,000 of military or survivor benefits. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Taxes are imposed on both real and personal property. Property, which is assessed at 100% of its true value, is subject to taxation by a variety of taxing units (schools, counties, townships, cities and towns, libraries, etc.) making the total tax rate the sum of the tax rates imposed by all of the taxing units in which the property is located. Homeowners are eligible for a credit against the property taxes that they pay on their homestead. The amount of credit to which the individual is entitled equals 10% of the individual's property tax liability, which is attributable to the homestead during the calendar year. A taxpayer entitled to receive a homestead credit is also entitled to a standard deduction from the assessed value of the homestead. The deduction is the lesser of one-half of the assessed value of the real property or $35,000. Homeowners 65 and older who earn $25,000 or less are eligible to receive a tax reduction on property with an assessed value of $144,000 or less and the individual received no other property tax deductions except for mortgage, standard, and fertilizer storage deductions. A surviving spouse is entitled to the deduction if they are at least 60 years old. The amount of the deduction is the lesser of one-half of the assessed value of the real property or $12,480 (in 2005). Call 317-232-3777 for details. Inheritance and Estate Taxes The inheritance tax (Class A) ranges from 1% to 10% based on fair market value of property transferred at death. The estate tax is the amount by which federal credit exceeds inheritance taxes paid to all states.
IOWA: For more information Clickhere
Sales Taxes State Sales Tax: 5% (food and prescription drugs exempt); local option taxes can add up to another 2%. Gasoline Tax:: 21.7 cents/gallon Diesel Fuel Tax: 23.5 cents/gallon Gasohol Tax: 21.7 cents/gallon Cigarette Tax: 36 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 0.36%; High - 8.98% Income Brackets: Lowest - $1,269; Highest - $57,106 Number of Brackets: 9 Personal Tax Credits: Single - $40; Married filing jointly - $80; Dependents - $40; 65 years and older - $20 Standard Deduction: Single - $1,610; Married filing jointly - $3,970 Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: Full Retirement income Taxes: Social Security is exempt for incomes under $25,000 (individual filers) or $32,000 (married filing jointly). Taxpayers 55 and older or disabled may exempt $6,000 (individual filers) or $12,000 (married filing jointly) of pension income. No more than 50% of Social Security benefits are taxable. Out-of-state government pensions qualify for exemptions. Retired Military Pay: Up to $12,000 can be excluded for joint filers and up to $6,000 for all other filing statuses for those 55 and older, disabled or surviving spouse of qualifying person. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Iowa has more than 2,000 taxing authorities. All property is assessed at 100% of market value. Most property is taxed by more than one taxing authority. The tax rate differs in each locality and is a composite of county, city, school district and special levies. A property tax credit is available to residents whose total household income is less than $17,590 and are age 65 or older. A homestead tax credit is given to residents who live in the state for at least six months of each year and actually live on the property on July 1. For more details, call: 515-281-4040. Inheritance and Estate Taxes The Iowa inheritance tax ranges from 1% to 15% depending on the amount of the inheritance and the relationship of the recipient to the decedent. The surviving spouse's share, regardless of the amount, is not subject to tax. The estate tax is the amount by which the allowable federal credit for state death taxes exceeds the inheritance tax due from the estate
KANSAS: For more information Clickhere
Sales Taxes State Sales Tax: 5.3% (prescription drugs exempt); Cities and counties may add another 3%. Gasoline Tax: 25 cents/gallon Diesel Fuel Tax: 27 cents/gallon Gasohol Tax: 25 cents/gallon Cigarette Tax: 79 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 3.5%; High - 6.45% Income Brackets: * Lowest - $15,000; Highest - $30,000 Number of Brackets: 3 Personal Exemptions: Single - $2,250; Married - $4,500; Dependents - $2,250 Standard Deduction: Single - $3,000; Married filing jointly - $6,000 An additional $700 can be claimed if you are 65 years or older. An additional $700 can also be claimed if you are blind. If your spouse is 65 years or older, you can claim an additional $700. An additional $700 can also be claimed if your spouse is blind. If both you and your spouse are 65 years or older and blind, your standard deduction would be $8,800. Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Taxes: Military, civil service, state/local government pensions are exempt. Out-of-state government pensions are fully taxed. Social Security is taxable to the extent it is federally taxed. Railroad retirement is fully exempt. Retired Military Pay: Not taxed. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Taxable property is assessed at its fair market value. Homeowners 55 and older who earn $27,000 or less are eligible for a refund of up to $600. You must also meet one of the following requirements: Be 55 years of age or older, or be blind or disabled, or have a dependent child under 18 who lived with you all year whom you claim as a personal exemption. Call 877-526-7738 for details. The legislature has reenacted for 2003-04 and 2004-05 school years the 20-mill school finance property tax levy and $20,000 residential exemption. A rebate of a portion of property taxes paid on a resident's principal residence is available through the Homestead Refund program. An intangible tax based on earnings is assessed on money or deposits, stocks, and bonds. Senior citizens and disabled taxpayers may be eligible for an exemption from the intangibles tax. Call 877-526-7738 or 785-296-2365 for details. Inheritance and Estate Taxes The Kansas inheritance tax ranges from 10% of amounts up to $100,000 to 15% of amounts above $200,00. The estate tax is coordinated with the federal death tax, whereby the state tax amount is equal to the state death tax credit allowed by federal law. For further information, visit the Kansas Department of Revenue site. * For joint returns, the taxes are twice the tax imposed on half the income.
KENTUCKY: For more information Clickhere
Sales Taxes State Sales Tax: 6% (food and prescription drugs, residential utilities except telephone, and medical supplies are exempt) Gasoline Tax: 18.5 cents/gallon Diesel Fuel Tax: 18.6 cents/gallon Gasohol Tax: 18.5 cents/gallon Cigarette Tax: 30 cents/pack of 20 Personal Income Taxes Tax Rate Range:: Low - 2.0%; High - 6.0% Income Brackets: Lowest - $3,000; Highest - $75,000 Number of Brackets: 5 Personal Tax Credits: Single - $20; Married - $40; Dependents - $20; if age ;65 or older, take an additional tax credit of $40. Standard Deduction: May either itemize deductions or take an $1,870 standard deduction. Medical/Dental Deduction:: Federal amount. The state allows a reduction of taxable income for 100% of long-term care insurance and health insurance premiums. Federal Income Tax Deduction: None Retirement Income Taxes: Social Security, Railroad Retirement benefits, and Roth IRA proceeds are exempt. Exclusion of up to $40,200 for military, civil service, state/local government, qualified private pensions, and annuities. (Increases to $41,110 in 2006 tax year) Retired Military Pay: Not taxed. If retired after 1997, pay is subjected to tax if amount exceeds $40,200 - See Kentucky Schedule P. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes All real property in Kentucky is subject to state and local property tax. The state real property tax rate is 13.6 cents per each $100 of assessed value. Real property is assessed on 100% of fair market value. To review the latest rates, click here. Kentucky has a homestead exemption on the assessed value of a qualifying single-unit residential property which is adjusted every two years according to the cost of living index. For homeowners 65 and older or totally disabled, $29,400 of the assessed value of their property is exempt from state taxes. Call 502-564-4581 for details. Inheritance and Estate Taxes Kentucky has an inheritance tax but all Class A beneficiaries (spouse, parent, child, grandchild, brother, and sister) are exempt. As for the estate tax, if the total amount of the estate is less than the federal applicable exclusion, federal estate and gift tax is not due. For further information call 502-564-4581.
LOUISIANA: For more information Clickhere
Sales Taxes State Sales Tax: 4%; 3.8% for electricity, water utility services and steam; Interstate telecommunication services are taxable at 2%. Political subdivisions also levy their own sales tax which could bring the total to 10.75%. Food, drugs, wheelchairs and prosthetic devices are taxed locally. Gasoline Tax: 20 cents/gallon Diesel Fuel Tax: 20 cents/gallon Gasohol Tax: 20 cents/gallon Cigarette Tax: 36 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 2%; High - 6% Income Brackets: * Lowest - $12,500; Highest - $25,000 Number of Brackets: 3 Personal Exemptions:** Single - $4,500; Married - $9,000; Dependents - $1,000; 65 and older - $1,000 Standard Deduction: Included in personal exemptions Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: Full Retirement Income Taxes: Social Security, military, civil service, state/local government pensions are exempt. $6,000 (individual filers) or $12,000 (married filing jointly) for qualified private pensions for those 65 and older. Out-of-state government pensions qualify for the private pension/retirement exemption. Retired Military Pay: Not taxed. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Taxes are assessed and collected at the local level -- 64 parishes and 7 municipal districts. The Louisiana State Tax Commission has a regulatory role regarding property assessments. Property assessments are based on 10% of the fair market value of the property. Homeowners receive a homestead exemption in the amount of $7,500. Exemption is applied against the assessed value of the home which is equal to 10% of the fair market value. Therefore, only homes with a market value over $75,000 would be subject to the parish (county) property tax. However, this exemption does not generally apply to municipal taxes. A Special Assessment applies to the homestead of persons who are 65 years of age and older if the adjusted gross household income is below a certain level. For the tax year 2005, that level will be $56,744. The level may change from year to year, so it is advisable to check with the assessor's office to determine qualifications.. This special assessment will freeze the assessed value of the homestead for as long as the applicant owns and resides in the home and income does not exceed the maximum allowed. It will be lost if improvements in excess of 25% of the home's value are added. Call 225-925-7830 for details. Inheritance and Estate Taxes After gradually being reduced since 1998, inheritance tax rates will no longer apply for most deaths occurring after June 30, 2004. Estate transfer tax is a tax designed to absorb the federal state death tax credit allowable under Section 2011 of the Internal Revenue Code. The estate transfer tax does not impose any additional tax burden on the decedent's estate, but merely shifts payment from the federal government to the state. For further information, visit the Louisiana Department of Revenue site or call 255-219-0102. Additional information can be found at the Louisiana Tax Commission site. * For joint returns, the taxes are twice the tax imposed on half the income. ** Combined personal exemption and standard deduction.
MAINE: For more information Clickhere
Sales Taxes State Sales Tax: 5.0% (food and prescription drugs exempt) Gasoline Tax: 27.4 cents/gallon Diesel Fuel Tax: 27.0 cents/gallon Gasohol Tax: 27.4 cents/gallon Cigarette Tax: $2.00/pack of 20 Personal Income Taxes Tax Rate Range: Low - 2%; High - 8.5% Income Brackets: * Lowest - $4,449; Highest - $17,700 Number of Brackets: 4 Personal Exemptions: Single - $2,850; Married - $5,700; Dependents - $2,850 Standard Deduction: Single - $4,850; Married filing jointly - $8,150 Additional Deductions: Single or head of household over 65 - $1,150; One spouse over 65 - $950; Both over 65 - $1,900 Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Taxes: Social Security is exempt. $6,000 exemption for pension income, but not IRAs, minus amount of Social Security benefit. Out-of-state government pensions qualify for the $6,000 exemption. Retired Military Pay: Follows federal tax rules. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: additional dependent Standard Deduction: $1,500 or 15% of Maryland adjusted gross income to maximum of $3,000 for single returns; $2,000 to $4,000 for married filing jointly. Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Taxes: Social Security and Railroad RGenerally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes All real estate and personal property of Maine residents is subject to local and, if authorized by the legislature, state property taxes. Local property taxes, based upon assessed valuation, are assessed, levied and collected by municipalities. Homestead and veteran's exemption programs, administered by the state, are available to reduce property taxes for those who qualify. The Homestead Exemption program provides a measure of property tax relief for certain individuals that have owned homestead property in Maine for at least 12 months and make the property they occupy on April 1st their permanent residence. Property owners receive an exemption of $13,000 on the assessed value of their home. A Veteran exemption of $5,000 is available to those who served during a recognized war period, are 62 years or older, are receiving 100% disability as a veteran or became 100% disabled while serving. Paraplegic veterans who received a federal grant for a specially adapted housing unit may receive a $47,500 exemption. A blind exemption of $4,000 is available to those who are legally blind. A property tax refund program is available if your taxes exceed 4% of your income or, if rent paid was more than 20% of your income. For information on the 2006 property tax and rent refund program click here. For more information, call 207-287-2011. Inheritance and Estate Taxes There is no inheritance tax. Maine has partially decoupled from the federal estate tax law. The amount exempt from the Maine estate tax is different from the amount exempt from federal estate tax. A person dying in 2004 would have their estate exempt for up to $850,000 even though the federal exemption is $1,500,000. In 2005, the threshold for the state increases to $950,000 while the federal amount remains the same. For further information, visit the Maine Revenue Services site. * For joint returns, the taxes are twice the tax imposed on half the income.
MARYLAND: For more information Clickhere Sales Taxes State Sales Tax: 5.0% (food, prescription and non-prescription drugs exempt) Gasoline Tax: 23.5 cents/gallon Diesel Fuel Tax: 24.3 cents/gallon Gasohol Tax: 23.5 cents/gallon Cigarette Tax: $1.00/pack of 20 Personal Income Taxes Tax Rate Range: Low - 2%; High - 4.75%; Maryland counties and Baltimore City may levy an income tax ranging from 1.25% to 3.15% of taxable income. Click here for local rates. Income Brackets: Lowest - $1,000; Highest - $3,000 Number of Brackets: 4 Personal Exemptions: Single - $2,400; Married - $4,800; Dependents - $2,400 Additional Exemptions: 65 or older - $1,000 each etirement income are exempt. Pensions are exempt up to $21,500, minus amount of Social Security received and Railroad Retirement benefits. Out-of-state government pensions do not qualify for the exemption. Military pensioners are eligible for an additional pension exemption of up to $2,500. To qualify they must have a federal adjusted gross income of $22,500 or less. Click here for details. Retired Military Pay: Up to $2,500 may be exempt if retiree is over 55 and meets gross income limit. Some retirement pay may be excluded for those 65 and older or totally disabled. Survivor benefits are taxable. Click here for details. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Real property is valued at its full cash value. Property tax rates vary widely. No restrictions or limitations on property taxes are imposed by the state, meaning cities and counties can set tax rates at the level they deem necessary to fund governmental services. These rates can increase, decrease or remain the same from year to year. The Homeowners' Property Tax Credit Program (circuit breaker) allows credits against the homeowner's property tax bill if the property taxes exceed a fixed percentage of the person's gross income. In other words, it sets a limit on the amount of property taxes any homeowner must pay based upon his or her income. The plan was called circuit breaker because it shut off the property tax at a certain point just like an electric circuit breaker shuts off the current when the circuit becomes overloaded. It provides annual property tax credits to homeowners who qualify by reason of income. It has no relationship to age. To be eligible, a person must own their property, live in it for at least six months a year, and have a net worth, not including the value of the property on which you are seeking the credit, of less than $200,000. The tax credit is based upon the amount by which the property taxes exceed a percentage of your income according to the following formula: 0% of the first $4,000 of the combined household income; 1.0% of the next $4,000 of income; 4.5% of the next $4,000 of income; 6.5% of the next $4,000 of income; and 9% of all income above $16,000. A property tax deferral program allows property owners 65 or over to defer the increase in their property tax bill. Local governments must approve the program. The deferred taxes become a lien on the property and must be repaid when the property is transferred. For details on property taxes, call 410-767-1184. Inheritance and Estate Taxes Maryland collects an inheritance tax. Property passing to a spouse, child or other lineal descendent, spouse of a child or other lineal descendant, parent, grandparent or sibling, is exempt from taxation. Property passing to other individuals is subject to a 10% tax rate. The Maryland estate tax is now decoupled from the Federal estate tax. Estates above $1,000,000 will be subject to the Maryland estate tax even though they may not be subject to Federal estate tax. Senate Bill 508, which became effective on 7/1/04, retroactively applies to the estates of decedents dying after 12/31/03. For more information on inheritance taxes click here. For estate tax information, click here. For further information, visit the Maryland Comptroller of the Treasury site.
MASSACHUSETTS: For more information ClickhereSales Taxes State Sales Tax: 5% (food; prescription drugs; fuel costs; gas, oil, electricity; clothing costing up to $175, are exempt). For a complete list, click here. Gasoline Tax: 23.5 cents/gallon Diesel Fuel Tax: 23.5 cents/gallon Gasohol Tax: 23.5 cents/gallon Cigarette Tax: $1.51/pack of 20 Personal Income Taxes Tax Rate Range: Flat rate of 5.3% of federal adjusted gross income Personal Exemptions: Single - $3,575; Married - $7,150; Dependents - $1,000 Standard Deduction: None Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Taxes: Social Security, civil service, state/local government pensions are exempt. Pension income from other state or local governments that do not tax pension income from Massachusetts public employees is exempt from Massachusetts taxable income. Retired Military Pay: Not taxed. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Massachusetts does not provide for a general homestead exemption. However, cities and towns may allow an exemption for the principal residence of a taxpayer equal to but not more than 20% (30% in Boston and Somerville) of the average assessed valuation of all residential parcels in the city or town. All cities and towns are allowed to reduce the real property tax obligations by up to $750 for persons over the age of 60 who volunteer their services to that city or town. Certain taxpayers age 65 or older may be eligible to claim a refundable credit on state income taxes for the real estate taxes on the residential property they own or rent. The taxpayer's "total income" cannot exceed $45,000 for a single filer who is not the head of a household, $56,000 for a head of household, or $67,000 for taxpayers filing jointly; and for homeowners, the assessed valuation as of January 1, 2005, before residential exemptions but after abatements, of the homeowner's personal residence cannot exceed $600,000. For renters, the law assumes that 25% of rent goes toward property tax. Accordingly, renters may claim a credit in the amount by which 25% of their annual rental payment is more than 10% of their total income. The maximum credit is $840 for homeowners and renters. There is a property tax deferral program open to qualifying seniors with the option to defer payment of property taxes (up to one-half the assessed value of the property) until the property is sold or the owner is deceased. The interest rate charged cannot exceed 8%. For additional information on property taxes, call 617-626-2300. Inheritance and Estate Taxes There is no inheritance tax and a limited estate tax on estates valued at $1,000,000 or more. For further information, visit the Massachusetts Department of Revenue site.
MICHIGAN: For more information Clickhere Sales Taxes State Sales Tax: 6% (food and prescription drugs exempt; home heating fuels are taxed at 4%) Gasoline Tax: 34 cents/gallon Diesel Fuel Tax: 28.5 cents/gallon Gasohol Tax: 34 cents/gallon Cigarette Tax: $2.00/pack of 20 Personal Income Taxes Tax Rate Range: Flat rate of 3.9% of federal adjusted gross income with modifications; some cities impose additional income taxes. Personal Exemptions: Single - $3,200; Married - $6,400; Dependents - $3,200; Persons 65 or older can claim an additional $2,000 exemption. Standard Deduction: None Medical/Dental Deduction: None Federal Income Tax Deduction: None Retirement Income Taxes: Social Security, military, federal, and state/local government pensions are exempt. Private pension income is exempt up to $39,570 (individual filers) or $79,140 (married filing jointly). These private pensions are reduced by the amount of any public pension deduction claimed. Taxpayers 65 or older may deduct interest, dividends, and capital gains up to $8,828 (individual filers) or $17,655 (married filing jointly). These deductions are reduced by any pension exemption taken. Michigan residents can treat the public pensions received from the following states as totally exempt: Alaska, Florida, Hawaii, Illinois, Massachusetts, Mississippi, Nevada, New Hampshire, Pennsylvania, South Dakota, Tennessee, Texas, Washington, and Wyoming. Michigan residents who receive public pensions from other states are subject to the private pension exemption limits. Retired Military Pay: Not taxed. Survivor benefits are exempt if the amounts are exempt from federal income tax or classified as military compensation or military retirement pay. Military retirement benefits that pass to the spouse of a deceased member of the military are exempt. Retirement benefits passing to other beneficiaries are taxed. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Property in Michigan is generally assessed at 50% of its true cash value. Some seniors, disabled persons, veterans, surviving spouses of veterans and farmers may be able to delay paying property taxes. It depends on the county of residence and your income level. If you own the home you live in, you may be exempt from a portion of local school taxes. A homestead property tax credit is available to homeowners or renters. The credit is based on the property tax on a homestead that is subject to local property taxes or your household income. Only those whose household income is less than $82,650 are eligible. For information on the homestead credit, call 517-334-7076. For other property tax matters, call 517-373-0500. Inheritance and Estate Taxes There is no inheritance tax and a limited estate tax related to federal estate tax collection. For further information call a special assistance number: 800-487-7000.
MINNESOTA: For more information Clickhere Sales Taxes State Sales Tax: 6.5% (food, clothing, prescription and non-prescription drugs exempt); Liquor and beer taxed at 9%. A few cities and counties also add a sales tax which can be as high as 1.0%. Gasoline Tax: 22 cents/gallon Diesel Fuel Tax: 22 cents/gallon Gasohol Tax: 22 cents/gallon Cigarette Tax: $1.23/pack of 20 Personal Income Taxes Tax Rate Range: Low - 5.35%; High - 7.85% Income Brackets: * Lowest - $19,890; Highest - $65,330 Number of Brackets: 3 Personal Exemptions: ** Single - $3,200; Married - $6,400; Dependents - $3,200 Standard Deduction: Single - $4,740; Married filing jointly - $9,500 Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Taxes: Social Security income is taxed by Minnesota to the same extent it is on your federal return. If your only income is Social Security, you would not be required to file an income tax return. Pensions, including federal pensions, received while a Minnesota resident are taxable by Minnesota regardless of where your pension was earned. Railroad retirement benefits paid to you by the Railroad Retirement Board are not taxed by Minnesota. If these benefits are included in your federal taxable income, you may subtract them from your taxable income. Taxpayers 65 and older may subtract some income if federal adjusted gross income is under certain limits. Retired Military Pay: Pensions are taxable. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes There is a Senior Citizen Property Tax Deferral Program allows people 65 years of age or older, whose household incomes are $60,000 or less, to defer a portion of their property tax on their home. This deferral program has two primary advantages for senior citizens. It limits the maximum amount of property tax you pay to three percent of your total household income, and it provides predictability. The amount of tax you pay will not change for as long as you participate in this program. It is no a tax forgiveness program - it is a low interest loan from the state. The deferred tax is paid by the state to your county. Interest will be charged on this loan. The interest rate will be adjusted annually, but will never exceed five percent. A lien will attach to your property. Minnesota has two property tax refund programs for homeowners: the regular property tax refund, and the special property tax refund. You may be eligible for one or both, depending on your income and the size of your property tax bill. Inheritance and Estate Taxes There is no inheritance tax and a limited estate tax related to federal estate tax collection. For further information, visit the Minnesota Department of Revenue site. * The tax brackets reported are for single taxpayers. For married taxpayers filing jointly, the same rates apply to income brackets ranging from $29,071 to $115,511. ** Minnesota allows personal exemption or standard deductions as provided in the Internal Revenue Code.
MISSISSIPPI: For more information Clickhere Sales Taxes State Sales Tax: 7% (prescription drugs, residential utilities, motor fuel, newspapers, healthcare services, and payments made by Medicare and Medicaid are exempt); County and city taxes may add an additional 3% to the state rate. Gasoline Tax: 18.8 cents/gallon Diesel Fuel Tax: 18.8 cents/gallon Gasohol Tax: 18.8 cents/gallon Cigarette Tax: 18 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 3%; High - 5% Income Brackets: Lowest - $5,000; Highest - $10,000 Number of Brackets: 3 Personal Exemptions: Single - $6,000; Married - $12,000; Dependents - $1,500 Additional Exemption: 65 or older - $1,500 Standard Deduction: Single - $2,300; Married filing jointly - $4,600 Medical/Dental Deduction: Partial Federal Income Tax Deduction: None Retirement Income Taxes: Qualified retirement income is exempt from state income tax. Social Security is not taxed, regardless of total income. Retirement income from IRAs, 401s/403s, Keoghs and qualified public and private pension plans is not taxable. Interest income from federal securities and obligations of Mississippi and its political subdivisions are all exempt. Retired Military Pay: Retired pay is exempt after January 1, 1994. The exemption is also available to the spouse or other beneficiary upon the death of the primary retiree. Widows' pensions received from the VA are not taxable. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Property and automobiles are both subject to ad valorem taxes - meaning that the tax is assessed in relationship to the value of the property. Residential property used as a residence has a homestead credit of $300 against the ad valorem tax. Persons 65 years of age and older or persons who are disabled receive a bonus. They are exempt from ad valorem taxes up to $75,000 of the market value on homestead property. Any value over $75,000 is taxed as other property. Automobiles are assessed at 30% of market value, and the tax is reduced by a percentage assigned by the Legislature. Your property tax bill includes county, municipal and school taxes. There is no state ad valorem tax. The market value is determined by the local tax assessor, and there is a hearing procedure if you do not agree with the assessment. The taxes vary from city to city depending upon the local rate levied. There is no state real estate tax nor is there a tax on intangible personal property. For additional information, call 601-923-7631 or click here. Inheritance and Estate Taxes There is no inheritance tax. An estate tax is imposed on the value of a decedent's estate when the total gross estate exceeds the federal exemption of $1,000,000. The exemption amount will follow the federal exclusion under 26 USC 2010. For further information, visit the Mississippi State Tax Commission site or call 601-923-7089.
MISSOURI: For more information Clickhere
Sales Taxes State Sales Tax: 4.225% (prescription drugs exempt; food is taxed at 1.225%) Gasoline Tax: 17.6 cents/gallon Diesel Fuel Tax: 17 cents/gallon Gasohol Tax: 17.6 cents/gallon Cigarette Tax: 17 cents/pack of 20 Personal Income Taxes Tax Rate Range: - 1.5%; High - 6% Income Brackets: Lowest - $1,000; Highest - $9,000 [Tax is imposed at a rate of 1-1/2 percent on the first $1,000 of taxable income and increases at a rate of 1/2 percent for every $1,000 increment up to $9,000. The tax rate is 6 percent on Missouri taxable income exceeding $9,000.] Number of Brackets: 10 Personal Exemptions: Single - $2,100; Married - $4,200; Dependents - $1,200; Plus $1,000 for dependent 65 or older. Standard Deduction: Single - $4,750; Married filing jointly - $9,500 Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: * Partial Retirement Income Taxes: Exclusion of up to $6,000 (single) $12,000 (joint) for local, state, federal and military pensions. Social Security is taxable to the extent of federal taxation. Railroad benefits exempt. Exclusions phased out for income of $25,000 (individual filers) and $32,000 (married filing jointly). Retired Military Pay: For individuals with a modified state adjusted gross income of less than $25,000 or a married couple with a combined income of $32,000, a government pension exemption of up to $6,000 is allowed. If a husband and wife each receive a government pension, each can qualify for an exemption of up to $6,000. SBP benefits are taxed following federal rules. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Residential property is assessed at 19% of its fair market value. Personal property is assessed at rates ranging from 5% to 33.3%. The Homestead Preservation Credit gives qualified senior citizens and 100 percent disabled individuals a credit on their real estate property tax if those taxes increase 2.5 percent in a non-reassessment year or 5 percent in a reassessment year. The credit would be for the amount that exceeds the 2.5 or 5 percent increase in taxes. The act requires a legislative appropriation to fund the credit. If the funding is less than 100 percent, the credit will be a flat statewide percentage based on the appropriation amount. This credit will be applied against the taxes for the following year. Call 573-751-3503 for details or click here. Inheritance and Estate Taxes There is no inheritance tax and a limited estate tax related to federal estate tax collection. For information about moving to Missouri, click here. For further information about state taxes, visit the Missouri Department of Revenue site. * Limited to $10,000 for joint returns and $5,000 individuals.
MONTANA: For more information Clickhere
Sales Taxes State Sales Tax: No general sales tax. A new 3% tax on accommodations and campgrounds is added to the 4% tax on rental vehicles. Gasoline Tax: 27.8 cents/gallon Diesel Fuel Tax: 28.5 cents/gallon Gasohol Tax: 27.8 cents/gallon Cigarette Tax: $1.70 cents/pack of 20 Personal Income Taxes Tax Rate Range: - 1%; High - 6.9% Income Brackets: Lowest - $2,300; Highest - $13,900 Number of Brackets: 7 Personal Exemptions: Single - $1,900; Married - $3,800; Dependents - $1,900 Additional Exemptions: 65 or older - $1,900 Standard Deduction: Single - $3,330; Married filing jointly - $6,660 Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: Full Retirement Income Taxes: There is a $3,600 exemption for public pensions and qualified private pensions. Social Security is taxable for those whose income, including Social Security, exceeds $25,000 (single) or $32,000 (joint). Retired Military Pay: See above. Survivor benefits are taxed following federal tax rules. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes All property (real or personal) is subject to state and local taxes. The assessed valuation of real property is based on 100% of its fair market value, then reduced by a a phase-in factor and taxed as a percentage thereof. The state established the tax rate to determine the assessed valuation while local taxing units establish the mill levies to determine the property tax. Personal property is also taxed, the most common being motor vehicles. All residential properties receive a 32% exemption (for 2005) but residents must file for the exemption. This homestead exemption incrementally increases until it hits 34% for tax year 2008 and later. Residential property of certain disabled veterans, and the spouses of deceased veterans, is exempt from property taxation. Montana property owners can have their property taxes reduced if they meet certain qualifications. For instance the home or mobile home must be owned or under contract for deed, the owners must occupy the dwelling for at least seven months as their primary residence, and the owner's total income, including otherwise tax exempt income, must not exceed $16,457 for a single person or $21,942 for a married couple. Social Security income paid to a nursing home is not considered income. The state also has a circuit breaker program that provides tax relief to elderly homeowners and renters based on the relationship between the homeowner's property tax and income. (In the case of renters, the property tax equivalent is defined to be 15% of the gross rent paid during the tax year.) A residential property credit against personal income tax is provided for a person 62 or older who has less than $45,000 in household income. The maximum credit cannot exceed $1,000. Inheritance and Estate Taxes There is no inheritance tax and a limited estate tax related to federal estate tax collection. For further information, visit the Montana Department of Revenue site or call 406-444-6900. Note: The state has a statutory provision for automatic adjustment of tax brackets, personal exemptions or standard deductions to the rate of inflation.
NEBRASKA: For more information Clickhere Sales Taxes State Sales Tax: 5.5% (food and prescription drugs exempt); local option taxes could add an additional 1.5% to the state rate. Gasoline Tax: 27.0 cents/gallon Diesel Fuel Tax: 25.1 cents/gallon Gasohol Tax: 27.0 cents/gallon Cigarette Tax: 64 cents/pack of 20 Personal Income Taxes Tax Rate Range: - 2.56%; High - 6.84% Income Brackets: * Lowest - $2,400; Highest - $26,500 Number of Brackets: 4 Personal Tax Credits: Single - $101; Married - $202; Dependents - $101; Personal exemption phaseout for single filer begins at $72,000 AGI. Standard Deduction: Single - $4,850, Married - $8,140 Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Taxes: Railroad Retirement benefits are exempt. Out-of-state government pensions are fully taxed. Social Security is taxable to the extent of federal taxation. Retired Military Pay: Follows federal tax rules. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Property is assessed at its actual value. Under the state's homestead exemption, single homeowners 65 and older who earn $27,735 or less and married couples who earn $32,250 or less are eligible for tax exemptions on up to $40,000 of their property's assessed value or 80% of the average assessed value of a single family home in their county (whichever is greater). Call 800-742-7474 or 402-471-5984 for details or click here. Inheritance and Estate Taxes Nebraska's inheritance tax is collected at the county level. The estate tax is limited and related to federal estate tax collection. The estate tax rate for the first $100,000 of a taxable estate was reduced retroactively in 2004 to 5.6 percent for decedents dying on or after July 1, 2003. A new bracket of 12 percent was created for taxable estates between $3.5 million and $4 million. The highest rate is now 16.8 percent for taxable estates of more than $9 million. For further information, visit the Nebraska Department of Revenue site. * The tax brackets reported are for a single individual. For married couples filing jointly, the same rates apply for income under $4,000 to over $46,750. Personal exemption phaseout begins at $119,000 AGI. Note: The state has a statutory provision for automatic adjustment of tax brackets, personal exemptions or standard deductions to the rate of inflation.
NEVADA: For more information Clickhere Sales Taxes State Sales Tax: 6.5% (food and prescription drugs exempt); counties can add taxes that would raise the combined tax to 7.75%. Click here to view taxes by county. Gasoline Tax: 33.5 cents/gallon; county taxes may add another 5-10 cents. Diesel Fuel Tax: 27.8 cents/gallon; county taxes may add another 5-10 cents. Gasohol Tax: 33.5 cents/gallon; county taxes may add another 5-10 cents. Cigarette Tax: 80 cents/pack of 20 Personal Income Taxes No state income tax Retirement Income: Not taxed Property Taxes All property in the state is subject to tax by the state, counties, cities, towns, and school districts. Property taxes are applied to property of every kind and nature, including real and personal property. The assessed valuation for tax purposes is based on 35% of the fair market value of the property and is revalued every five years. Click here. The Senior Citizens Property Tax Assistance Act is administered by the Nevada Division of Aging Services. Homeowners 62 and older who earn $24,016 or less are eligible for a rebate of up to $500 or up to 90% of taxes paid. The program is also available to older taxpayers who, through rent payments, pay a disproportionate amount of their income on property taxes. Call 775-687-4892 for details. Inheritance and Estate Taxes There is no inheritance tax and a limited estate tax related to federal estate tax collection. For further information, visit the Nevada Department of Taxation site.
NEW HAMPSHIRE: For more information Clickhere Sales Taxes State Sales Tax: None. There is an 8% tax on lodging and restaurant meals and a 7% tax on two-way communications. Gasoline Tax: 20.6 cents/gallon Diesel Fuel Tax: 20.6 cents/gallon Gasohol Tax: 20.6 cents/gallon Cigarette Tax: 80 cents/pack of 20 Personal Income Taxes State income tax is limited to a 5% tax on dividends and interest income of more than $2,400 ($4,800 for joint filers). A $1,200 exemption is available for residents who are 65 years of age or older. Retirement Income: Not taxed. Property Taxes Local property taxes, based upon assessed valuation, are assessed, levied and collected by municipalities. To view the tax rates for each town, click here. A state education property tax rate of $3.33 (2005) per $1,000 of total equalized valuation is assessed on all New Hampshire property owners. An elderly exemption for property taxes can be age, net income limits, including Social Security income, and net asset limits. Property taxes can be deferred but accrue interest at the rate of 5% per annum. The deferred property tax may not exceed more than 85% of the equity value of the residence. The deferral is available (if granted) by the assessing officials, to any resident property owner who is at least 65 years old. For single homeowners 65 and older who earn less than $5,000 and married couples who earn less than $6,000, $5,000 of their property's assessed value is exempt from taxes. In addition, the homeowner's other assets besides the home must be worth less than $35,000. There is a Low & Moderate Income Homeowner's Property Tax Relief program in New Hampshire. Click here. You must own a homestead subject to the state education property tax; reside in such homestead as of April 1 of the year for which the claim for relief is made; have a total household income of (1) $20,000 or less if a single person or (2) $40,000 or less if married or head of a New Hampshire household. Call 603-271-2687 for details on property taxes or click here for municipal tax rates. Inheritance and Estate Taxes An 18% inheritance tax is assessed on property passing at death on both probate and non-probate assets including assets passing through trusts. Non-lineal descendants or ascendants (i.e. brothers, sisters, nieces, nephews, cousins or friends) who upon death of the owner become the new owner of assets or property - with or without a will or trust. No tax is assessed on any amount passing to a spouse, lineal ascendants and descendants (including children and grandchildren by adoption, stepchildren and step-grandchildren) and their spouses, or charities. New Hampshire's estate tax is equal to the credit for state death taxes paid on the federal estate tax return. For further information, visit the New Hampshire Department of Revenue Administration site or call 603-271-2191.
NEW JERSEY: For more information Clickhere
Sales Taxes State Sales Tax: 7% (food, prescription drugs and non-prescription drugs, clothing, footwear exempt) Gasoline Tax: 14.5 cents/gallon Diesel Fuel Tax: 17.5 cents/gallon Gasohol Tax: 14.5 cents/gallon Cigarette Tax: $2.575/pack of 20 Personal Income Taxes Tax Rate Range: Low - 1.4%; High - 8.97% Income Brackets: * Lowest - $20,000; Highest - $500,000 Number of Brackets: 6 Personal Exemptions: Single - $1,000; Married - $2,000; Dependents - $1,500 Additional Exemptions: Taxpayer or spouse 65 or older - $1,000 Standard Deduction: None Medical/Dental Deduction: Limited to excess of 2% of gross income Federal Income Tax Deduction: None Retirement Income Taxes: Social Security and Railroad Retirement benefits are exempt. Payments from a public or private pension plan as a result of a total and permanent disability are also exempt. However, if an individual retired before age 65 on a total and permanent disability pension, and continues to receive pension payments after age 65, the disability pension is treated as ordinary incomes. The maximum amount of pension and/or other retirement income that may be excluded from gross income is being increased over a four-year period, which began in 2000. Exclusion amounts for 2004 are $20,000 (filing status married, filing joint return), $10,000 (filing status married, filing separate return), and $15,000 (filing status single, head of household, or qualifying widow(er)). As of 2005, the pension and other retirement income exclusions are only available to taxpayers with a gross income of $100,000 or less (before subtracting any pension exclusion. Military retirement pay is not subject to the state's gross income tax. For details on pensions and annuities, click here. Retired Military Pay: Exempt from taxes. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Not subject to New Jersey gross income tax. Property Taxes Property taxation is local. The Homestead Rebate and NJ SAVER Rebate Programs have been combined into the FAIR Rebate Program. The homestead rebate and NJ SAVER rebate applications have been replaced with the FAIR tenant rebate application and a separate FAIR rebate application for homeowners. Only New Jersey residents who were either a homeowner or a tenant on October 1, 2005, are eligible for a 2005 FAIR rebate. http://www.state.nj.us/treasury/taxation/index.html?relief.htm~mainFrame The amount of your rebate is affected by your income, filing status, whether you were age 65 or older or eligible to claim an exemption as blind or disabled for tax year 2005, and whether you were a homeowner or a tenant on October 1, 2005. For tax year 2005, the minimum rebate for homeowners is $500 (income $125,000 to $200,000) and the maximum is $1,200 for income not over $70,000 (but not more than the amount of property taxes actually paid). The minimum rebate for tenants is $150 and the maximum is $825. Homeowners whose 2005 New Jersey gross income does not exceed $200,000 may be eligible for a rebate. The income limit for tenants is $100,000. For most homeowners, the rebate amount is equal to your property taxes paid, minus 5% of your gross income, but is limited to the maximum rebate amount for your income level. In no case will the rebate be more than the amount of property taxes actually paid. The Property Tax Reimbursement (PTR) Program reimburses senior citizens or disabled persons for property tax increases. The amount of the reimbursement is the difference between the amount of taxes due and paid in the base year of eligibility and the taxes due in the year for which the claim is made. To be eligible for tax year 2005, your income cannot exceed $41,972 if single, or $51,466 (combined income) if married. Call 800-882-6507. Inheritance and Estate Taxes New Jersey imposes a transfer inheritance tax, at graduated rates ranging from 11% to 16%, on the transfer of real and personal property having a total value of $500 or more which passes from a decedent to a beneficiary. If a decedent's death occurs on or after July 1, 1988, property passing to a decedent's surviving spouse, surviving parents, grandparents, children, stepchildren or grandchildren is entirely exempt from the tax. In addition to the inheritance tax, New Jersey imposes a separate estate tax. The estate tax is designed to absorb any portion of the credit allowable for state death taxes under the federal estate tax law that is not fully taken up by the aggregate amount of all death taxes paid to any state. The tax is the difference, if any, determined by subtracting the amount of the inheritance, legacy, and succession taxes paid to New Jersey and elsewhere from the allowable credit. Even states that are partially or fully exempt from the inheritance tax may be subject to the New Jersey state tax. An estate may be subject to the New Jersey estate tax even though there is no New Jersey inheritance tax payable. For decedents with a date of death on or after January 1, 2002 the New Jersey estate tax was decoupled from the federal estate tax proceeding. Information pertaining to the estate and inheritance tax may be obtained by calling 609-292-5033 or 609-292-5035 or click here. For further information, visit the New Jersey Department of Taxation site. * The tax brackets reported are for a single individual. A separate schedule is provided for married households filing jointly which ranges from 1.4% under $20,000 to 8.97 for income over $500,000.
NEW MEXICO: For more information Clickhere Sales Taxes Gross Receipts Tax: 5% (prescription drugs exempt); county and city taxes may add another 2.1875%. Certain food and medical expenses are exempt. Gasoline Tax: 18.0 cents/gallon Diesel Fuel Tax: 19.0 cents/gallon Gasohol Tax: 18.0 cents/gallon Cigarette Tax: 91 cents/pack of 20 Personal Income Taxes Tax Rate Range: - 1.7%; High - 5.7% (2005); High will be 5.3% for 2006 taxes. Income Brackets: * Lowest - $5,500; Highest - $16,000 Number of Brackets: 4 Personal Exemptions: ** Single - $3,200; Married - $6,400; Dependents - $3,200 Additional Exemptions: Taxpayer or spouse 65 or older - up to $8,000 Standard Deduction: Single - $4,750; Married filing jointly - $9,500 Medical/Dental Deduction: Credit of 3% of unreimbursed prescription drug expenses to maximum of $150 per individual or $300 per return Federal Income Tax Deduction: None Retirement Income Taxes: Taxpayers 65 and older may exempt up to $8,000 (single), $16,000 (joint) from any income source if their income is under $28,500 (individual filers) or $51,000 (married filing jointly). Retired Military Pay: See above. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes All property, whether real or personal, is subject to state and local property taxes. The state assesses residences at market value. Assessors usually determine market value by the sales-comparison approach which matches a property's value to that of similar properties. The valuation of a residence that did not change hands in the prior year may not increase by more than 3% annually. One-third of the property's market value is its taxable value, which may be further reduced by exemptions of $3,500 for veterans and heads of households in 2005. Homeowners 65 and older who earn $18,000 ($25,000 in Sandoval County) or less are eligible for a credit of up to $250 for married filing jointly or $125 for single taxpayers. Call 505-827-0870 for details. To access the property tax page, click here. Inheritance and Estate Taxes There is no inheritance tax but an inheritance may be reflected in a taxpayer's modified gross income and taxed that way. The estate tax is related to federal estate tax collection.
NEW YORK: For more information ClickhereSales Taxes State Sales Tax: 4.0% (food, prescription and non-prescription drugs exempt); Other taxing entities may add up to 5.5% in additional sales tax. Gasoline Tax: 45.77 cents/gallon Diesel Fuel Tax: 39.0 cents/gallon Gasohol Tax: 45.77 cents/gallon Cigarette Tax: $1.50/pack of 20; New York City adds an additional $1.50. Personal Income Taxes Tax Rate Range: Low - 4.0%; High - 7.7% Income Brackets: * Lowest - $8,000; Highest - $500,000 Number of Brackets: 5 Personal Exemptions: Single - $0; Married - $0; Dependents - $1,000 Standard Deduction: Single - $7,500; Married filing jointly - $14,600 Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Taxes: Social Security, military, civil service, state/local government pensions are exempt. Also, up to $20,000 of qualified private pensions for those 59½ and older. Out-of-state government pensions can be deducted as part of the $20,000 exemption Retired Military Pay: Exempt from taxes. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Property taxation is limited to real property. New York State law gives local governments and public school districts the option of granting a reduction on the amount of property taxes paid by qualifying senior citizens. This is accomplished by reducing the assessed value of residential property owned by seniors by 50%. To qualify, seniors must be 65 years of age or older and meet certain income limitations and other requirements. For the 59% exemption, the law allows each county, city, town, village or school district to set the maximum income limit at any figure between $3,000 and $24,000. Localities have the further option of granting an exemption of less than 50% to senior citizens whose incomes exceed the local income limit by less than $1,000 in three income ranges or $900 in six other income ranges. For example, in a community that has taken this "sliding-scale" option and has adopted the $21,500 income maximum, an eligible resident whose income is more than $21,500 but less than $22,500, is entitled to a 45% exemption. If a person's income is more than $29,000 but less than $32,400, the exemption is 5%. There is no general, statewide homestead property tax exemption. However, a taxpayer's primary residence may be partially exempted from school taxes under the state's School Tax Relief Program (STAR) program. Seniors can take advantage of this program that provides a partial exemption from school property taxes. All New Yorkers who own and live in their one-, two-, or three-family home, condominium, cooperative apartment, manufactured home, or farm dwelling are eligible for a STAR exemption on their primary residence. There are two parts to the STAR program: The Basic STAR exemption is available for owner-occupied, primary residences regardless of the owners' ages or incomes. Basic STAR works by exempting the first $30,000 of the full value of a home from school taxes. The Enhanced STAR exemption is available for the primary residences of senior citizens (age 65 and older) with yearly household incomes not exceeding the statewide standard. For qualifying senior citizens, the Enhanced STAR program works by exempting the first $50,000 of the full value of their home from school property taxes. For property owned by a husband and wife, or by siblings, only one of them must be at least 65 years of age as of December 31 of the year in which the exemption will begin to qualify for the Enhanced exemption. Their combined annual income, however, must not exceed the STAR income standard. Call 888-697-8275 or 518-486-5446 for details. Inheritance and Estate Taxes There is no inheritance tax and the estate tax is related to federal estate tax collection.
NORTH CAROLINA: For more information Clickhere Sales Taxes State Sales Tax: 4.5% (prescription drugs, medical equipment exempt, food subject to 2% county tax); Some county taxes can increase the total to 7.5%. Gasoline Tax: 29.9 cents/gallon Diesel Fuel Tax: 24.9 cents/gallon Gasohol Tax: 29.9 cents/gallon Cigarette Tax: 30 cents/pack of 20 Personal Income Taxes Tax Rate Range: Low - 6.0%; High - 8.25% (rate will continue until January 2008) Income Brackets: * Lowest - $12,750; Highest - $120,000 Number of Brackets: 4 Personal Exemptions: ** Single - $3,200; Married - $6,400; Dependents - $3,200 Standard Deduction: Single - $3,750; Married filing jointly - $6,100 Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: None Retirement Income Taxes: Social Security is exempt. At least $4,000 in exclusions for federal, state and local pensions (depending on dates and length of service); up to $2,000 exemption for qualified private pensions, including IRAs. Out-of-state government pensions also qualify for the $4,000 exemption. State retirees with at least 5 years of creditable service as of August 12, 1989, will be permanently exempt from state income tax on their retired/retainer pay. Be sure to investigate the Bailey decision. Taxable income also includes income derived from gaming in North Carolina. Retired Military Pay: If an individual had five years of creditable service as of August 12, 1989, all military retired pay is exempt from taxes. Otherwise, a deduction of up to $4,000 is allowed for military pay or survivor's benefits. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes All property, real and personal, is subject to taxation and is assessed based on 100% of appraised value. Taxes are collected by cities and counties. Under the homestead exemption, homeowners 65 and older whose disposable household income is $19,200 or less, $20,000 or 50% (which ever is greater) of the appraised value of the property is exempt from taxes. Call 919-733-7711 for details Inheritance and Estate Taxes There is no inheritance tax and the estate tax is related to federal estate tax collection.
NORTH DAKOTA: For more information ClickhereSales Taxes State Sales Tax: 5% (food and prescription drugs exempt); 6% on lodging, 7% on alcoholic beverages. Cities or counties which have adopted home rule charters may levy additional sales and use taxes up to 2.5%. Gasoline Tax: 23 cents/gallon Diesel Fuel Tax: 21 cents/gallon Gasohol Tax: 23 cents/gallon Cigarette Tax: 44 cents/pack of 20 Personal Income Taxes Tax Rate Range: * Low - 2.1%; High - 5.54% Income Brackets: Lowest - $29,700; Highest - $326,200 Number of Brackets: 5 Personal Exemptions: ** Single - $3,200; Married - $6,400; Dependents - $3,200 Standard Deduction: Federal amount Medical/Dental Deduction: Full Federal Income Tax Deduction: *None Retirement Income Taxes: A total of $5,000 can be excluded from military, civil service, some state/local government, and qualified pensions, minus amount of Social Security received. Out-of-state government pensions are fully taxed. Retired Military pay: If Form ND-2 is used, an exclusion is allowed if a retiree is at least 50 years of age. The exclusion is equal to the lesser of (1) the total amount of taxable military retirement benefits reduced by any Social Security benefits received, or (2) $5,000 reduced by any Social Security retirement benefits received. SBP benefits are taxed according to federal tax rules. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes All real property in the state is subject to tax by the state, counties, townships, and municipalities. For homeowners 65 and older who earn $14,000 or less and have assets of no more than $50,000 (excluding the first $80,000 of their home's unencumbered value), the taxable value of their property is reduced by up to $2,000 through a homestead tax credit. Similar rules apply to renters. Maximum refund is $240. Personal property is not taxed. Call 701-328-3127 for details. Inheritance and Estate Taxes North Dakota does not have an inheritance tax. It was repealed in 1927 and replaced with an estate tax. There is an estate tax based on a decedent's total gross estate and limited to the credit for state death taxes allowed on the Federal 706 estate tax return.
OHIO: For more information ClickhereSales Taxes State Sales Tax: 5.5% (food, newspapers, magazine subscriptions, telephone service and prescription drugs exempt); Counties levy additional sales taxes which may add up to 2.0% in additional sales tax. Gasoline Tax: 28 cents/gallon Diesel Fuel Tax: 29 cents/gallon Gasohol Tax: 28 cents/gallon Cigarette Tax: $1.25/pack of 20 Personal Income Taxes Tax Rate Range: Low - 0.712%; High - 7.185% (Tax rates will drop 4.2% each year through 2009) Income Brackets: Lowest - $5,000; Highest - $200,000; Several cities levy municipal income taxes. Number of Brackets: 9 Personal Exemptions: * Single - $1,300; Married - $2,600; Dependents - $1,300 Standard Deduction: None Medical/Dental Deduction: None Federal Income Tax Deduction: None Retirement Income Taxes: Social Security is exempt. Credit of up to $200 if retirement income is at least $500, plus a one-time credit on lump sums. Seniors 65 and over may claim a $50 credit. Out-of-state government pensions can be applied toward the retirement income credit. Retired Military Pay: Graduated tax credit up to $200 based on retirement income; Survivor benefits excluded. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes The taxable base is the assessed value of land and buildings. Assessed value is 35% of market value, except for certain agricultural land. County auditors must reappraise all real estate every six years. The latest data available from the state (CY2003) shows the average statewide gross tax rate was 82.79 mills. "Tax reduction factors" resulted in an average statewide net rate of 53.28 mills. A homestead exemption is granted to qualified low income, elderly and disabled homeowners, as well as to certain surviving spouses. For homeowners who earn $12,900 or less, up to $5,300 or 75% of the taxable value of their property, whichever is less, may be exempt from state taxes. For homeowners with income from $18,900 to $25,000. Up to $1,000 or 25% of the taxable value, whichever is less, may be exempt. Call 888-644-6778 for details. Inheritance and Estate Taxes Ohio has no inheritance tax but an estate tax is levied against the value of a resident decedent's gross estate less deductions and exemptions. Graduated rates range through six taxable estate brackets from 2% on taxable values of under $40,000 to $23,600 plus 7% on taxable value exceeding $500,000. Each estate receives a tax credit which is $13,900 for deaths on or after January 1, 2002. Call 800-977-7711 for details.
OKLAHOMA: For more information ClickhereSales Taxes State Sales Tax: 4.5% (prescription drugs exempt); cities, towns and counties may levy local sales taxes. The county tax cannot exceed 2% but some cities have sales taxes over 4.25%. Gasoline Tax: 17 cents/gallon Diesel Fuel Tax: 14 cents/gallon Gasohol Tax: 17 cents/gallon Cigarette Tax: $1.03/pack of 20 Personal Income Taxes Tax Rate Range: * Low - 0.5%; High - 6.65% Income Brackets: Lowest - $1,000; Highest - $10,000 Number of Brackets: 8 Personal Exemptions: Single - $1,000; Married - $2,000; Dependents - $1,000 Additional Exemptions: 65 or older - $1,000 Standard Deduction: Single - $1,000; Married filing jointly - $2,000; Married filing separately - $500 to $1,000 Medical/Dental Deduction: Federal amount Federal Income Tax Deduction: Full but higher rates apply to the remaining taxable income Retirement Income Taxes: Social Security is exempt. Exclusion of up to $7,500 for qualified private pension income if federal adjusted gross income is not more than $25,000 (individual filers) or $50,000 (married filing jointly). Total public and private pension exemptions cannot exceed $7,500 per person. Out-of-state government pensions qualify for the $4,400 exemption of private pensions. Retired Military Pay: Up to $7,500 of retirement pay exempt. Military Disability Retired Pay: Disability Portion - Length of Service Pay; Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless combat incurred. Retired Pay - Based solely on disability: Member on September 24, 1975 - No tax; Not Member on September 24, 1975 - Taxed, unless all pay based on disability and disability resulted from armed conflict, extra-hazardous service, simulated war, or an instrumentality of war. VA Disability Dependency and Indemnity Compensation: Not subject to federal or state taxes Military SBP/SSBP/RCSBP/RSFPP: Generally subject to state taxes for those states with income tax. Check with state department of revenue office. Property Taxes Real property is assessed at an amount between 11% and 13.5% of its fair cash value. Oklahoma offers a homestead exemption for homeowners which reduces the property's assessed value by $1,000. In most cases this will result in a tax savings of $75 to $125. If gross household income is under $20,000 a year or less and you meet all of the homestead exemption requirements, you may qualify for an additional $1,000 exemption. A property tax refund worth up to $200 is available if you are 65 or older, or totally disabled, and have an income of $12,000 or less. There is a 100% property tax exemption for disabled veterans. Senior citizens with a household income of less than $25,000 previously qualified for a valuation freeze on their primary residence. This meant that their property tax would not go up just because the value of other homes in the neighborhood has gone up. As the result of a law passed in 2004, the amount of qualifying income would be fixed to the Federal Department of Housing and Urban Development's estimate of median family income. To illustrate, the limit for the Tulsa area is $54,500. Call 405-713-1236. Inheritance and Estate Taxes There is no inheritance tax but there is an estate tax. The amount of the federal credit for state death taxes due the state is adjusted, if necessary, after determination and adjustments, if any, of the value of the property to be taxed in the state. The percentage of the credit due the state is determined based on the ratio of the adjusted value of the property in Oklahoma to the adjusted value of the total estate.
OREGON: For more information Clickhere
Sales Taxes State Sales Tax: None Gasoline Tax: * 24 cents/gallon Diesel Fuel Tax: * 24 cents/gallon Gasohol Tax: * 24 cents/gallon (Local fuel taxes may add 1 to 3 cents) Cigarette Tax: $1.18/pack of 20 Personal Income Taxes Tax Rate Range: Low - 5%; High - 9% Income Brackets: ** Lowest - $2,650; Highest - $6,550 Number of Brackets: 3 Personal Tax Credits: Single - $154; Married - $308; Dependents - $154 Additional Credits: Credit equal to 40% of federal credit Standard Deduction: Single - $1,670; Married filing jointly - $3,345; Additional Deduction: Single over 65 - $1,200; Married over 65 filing jointly $2,000 Medical/Dental Deduction: Full only for age 59 or older, if itemized. Federal Income Tax Deduction: $5,000 ($2,500 if married filing separately) Retirement Income Taxes: Federal income tax rules generally determine the