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Illinois, however, which imposes a 4.95% fixed tax, has a flat tax because when the tax was first implemented, it was unclear whether a progressive income tax was constitutional under the state ...
Toggle the table of contents. ... County Per capita income Median household income Median family ... Greenwood: $21,728 $38,797 $49,785 69,661
Under the plan put forward Friday, the state’s top income tax rate will go down to 6.2% this year. The income tax cut will cost the state about $99.5 million a year.
State tax rules vary widely. The tax rate may be fixed for all income levels and taxpayers of a certain type, or it may be graduated. Tax rates may differ for individuals and corporations. Most states conform to federal rules for determining: gross income, timing of recognition of income and deductions, most aspects of business deductions,
The Unemployment rate in Greenwood County, SC was 4.0% as of Sept 2017. [37] The median household income in Greenwood County was $42,240 as of 2015. [ 38 ] In 2022, the GDP was $4.2 billion (about $59,778 per capita), [ 39 ] and the real GDP was $3.4 billion (about $48,574 per capita) in chained 2017 dollars .
Arizona. Flat Income Tax Rate: 2.5% Standard Deduction (Single): $14,600 Standard Deduction (Couple): $29,200 Personal Exemption (Single): NA Personal Exemption (Couple): NA Personal Exemption ...
Budget writers, and lawmakers ultimately, approved a plan to accelerate the planned income tax cut. The maximum tax rate is going to 6.2% about six months ahead of schedule, pending final approval ...
The state's personal income tax has a maximum marginal tax rate of 7 percent on taxable income of $13,351 and above. [16] State sales tax revenues are used exclusively for education. South Carolina has a 6% state sales tax, but when combined with local and county taxes, South Carolina has the second-highest sales tax in the United States next ...