There’s been great progress in recent years with regards to state tax policy. When I put together my first ranking back in 2018, there were 9 states with flat taxes and and 3 states with low-rate graduated tax systems. Today, there are 11 (soon to be 13) states with flat taxes and 6 states with low-rate graduated systems.
But one thing has not changed. The ideal state tax policy is to have no income tax
and the 9 states in that category have not changed. Indeed, things may
even be moving in the wrong direction since politicians in the state of
Washington recently imposed a capital gains tax and they hope that the state’s top court somehow will decide it is constitutional. But there’s now a glimmer of hope that a few states will jettison their income taxes............To Read More....
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