Estate Planning

NC Has 11th Highest Income Tax Rate in U.S.

By Gregory Herman-Giddens

Our top rate is now 7.75%, just slightly under Idaho's top rate of 7.8%.  Even New York has a lower top rate.  Before our top rate of 8.25% expired, we were tied for 9th place with Hawaii.

The top 10 States (including Washington D.C.):

1. CA - 10.3%
2. RI - 9.9%
3. VT - 9.5%
4. OR - 9.0%
5. IA - 8.98%
6. NJ - 8.97%
7. ME - 8.5%
8. DC - 8.5%
9. HI - 8.25%
10.  ID - 7.8%

As for our lowest rate of 6% - we are the highest in the United States!  That's right - number one.  No State has a higher lowest income tax rate than North Carolina.

Full post as published by North Carolina Estate Planning Blog on November 05, 2008 (boomark / email).