The 10 highest income tax states for 2018 are:
- California 13.3%
- Hawaii 11%
- Oregon 9.9%
- Minnesota 9.85%
- Iowa 8.98%
- New Jersey 8.97%
- Vermont 8.95%
- District of Columbia 8.95%
- New York 8.82%
- Wisconsin 7.65%
Only seven states have no personal income tax:
- Wyoming
- Washington
- Texas
- South Dakota
- Nevada
- Florida
- Alaska
If you are a business owner in a high-tax state, we recommend that you look into the many State Tax Credits that are available at the state level. For example, New York State offers a Hire-A-Vet Credit, Urban Youth Credit, Workers With Disabilities Credits, and more. If you hire a lot of employees, these tax credits can help you offset thousands of dollars in state taxes owed. Especially for owners of S-Corporations, these tax credits flow through to your personal income tax returns. Call us at WOTC.com to help you reduce your tax burden.
