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The states with the lowest top individual tax rates — not counting states with no income tax — are: ... North Carolina: 4.25%. Pennsylvania: 3.07%. ... State Income Tax Rates for 2024-2025 ...
North Carolina, whose legislature is controlled by the Republican Party while its governor is a Democrat, will cut its tax rate to 4.5% on Jan. 1, down from 4.75% in 2024.
2.2 States with flat rate individual income tax. 2.3 States with local income taxes in addition to state-level income tax. ... North Carolina – 4.50% (2024) [32]
State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales , income , excise taxes , and user fees . Some are levied directly from residents and others are levied indirectly.
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
North Carolina personal income tax is flat, with a 5.75% rate. [41] The base state sales tax is 4.25%. [ 42 ] Most taxable sales or purchases are subject to the state tax as well as the 2.5% local tax rate levied by all counties, for a combined 6.75%.
The IRS said it expects to receive more than 140 million individual tax returns by the April 15 deadline. ... 12%, 22%, 24%, 32%, 35% and 37%. While those income tax rates didn’t change for 2024 ...
The North Carolina Department of Revenue was created in 1921 by the North Carolina General Assembly. The department is headed by a Secretary that is appointed by the Governor. The secretary is a member of the North Carolina Cabinet. Currently, the department is responsible for administering the collection of the North Carolina state income tax ...