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State Income Tax

Income tax debate finally taking center stage

Matthew Dietrich | Posted 09.24.2013 | Chicago
Matthew Dietrich

When launched in November 2012, we knew that an effort to change the Illinois constitution and start a sliding-scale, progressive i...

Retiring Soon? Don't Forget Tax Implications

Jason Alderman | Posted 09.16.2013 | Fifty
Jason Alderman

If your retirement is not far off, you've probably already started to estimate what your living expenses will be after the regular paychecks stop. Don't forget to factor in taxes, which can have a substantial impact on your cost of living.

Jason Linkins

Grover Norquist's NCAA Bracket Is Already Busted All To Hell | Jason Linkins | Posted 03.21.2013 | Politics

Why on earth did Americans For Tax Reform's Grover Norquist take No. 14 seed Valparaiso to the Final Four in his NCAA Bracket? Because of taxes, natch...

Report: Low-Tax States Have Slower Economic Growth

The Huffington Post | Bonnie Kavoussi | Posted 03.01.2013 | Business

Small-government advocates often claim that high taxes hold the economy back. But a new report finds that states without a personal income tax have ex...

When Retiring Together Doesn't Make Sense

Jason Alderman | Posted 04.29.2013 | Business
Jason Alderman

Back when people from my parents' generation were first planning their lives together, most married couples looked forward to working hard for a few decades, raising a family and then retiring together while they still had enough money and energy to travel.

GOP Governor Pitches Radical Tax Plan

Reuters | Posted 01.16.2013 | Business

OMAHA, Jan 15 (Reuters) - Nebraska Governor Dave Heineman on Tuesday became the second Republican governor in the last week to propose ending his stat...

Republican-Led States Hatch Plan To Boost Taxes On The Poor

Reuters | Posted 03.15.2013 | Business

* Single-party rule in 37 states paves way for big changes * Some states weigh higher sales tax, eliminating income tax ...

Cutting The State Income Tax Does Little To Boost Growth

The Huffington Post | Alexander Eichler | Posted 06.26.2012 | Business

Right now in Michigan, there's a push to cut the state's income tax in the hopes of kick-starting the local economy. Other states have similar efforts...

10 States With The Highest Income Taxes Per Capita

The Huffington Post | Bonnie Kavoussi | Posted 06.21.2012 | Money

We all know that sinking feeling when you realize how much of your paycheck is being deducted for taxes. And if you live in New York, our greatest sym...

Facebook Getting A Huge Tax Break, Despite Big Profits: Report

The Huffington Post | Alexander Eichler | Posted 02.13.2012 | Business

Facebook's recent decision to go public may be a boon for the company in more ways than one. Facebook is structuring its initial public offering i...

GOP Sets Sights On Elimination Of State Income Taxes

AP | By SEAN MURPHY | Posted 01.30.2012 | Politics

OKLAHOMA CITY -- A year after Republicans swept into office across the country, many have trained their sights on what has long been a fiscal conserva...

Taking a Pass On "Pass-Through" Income Would Cost Kansas

Nicholas Johnson | Posted 03.26.2012 | Politics
Nicholas Johnson

Much of the benefit would flow to large corporations and to investment funds. The small-business employers that the governor claims to be targeting generate only 28 percent of all pass-through income.

Over Two-Thirds Of Corporations Pay No Federal Corporate Income Tax

Alexander Eichler | Posted 01.10.2012 | Business

At a time when the federal government is starved for cash -- and facing layoffs and cuts in services across the board -- more and more corporations ar...

Taxes Follow You Into Retirement

Jason Alderman | Posted 05.25.2011 | Business
Jason Alderman

Wouldn't it be nice if, after decades of hard work, scrimping and saving, you could retire and no longer have to worry about paying taxes? But that's about as likely as the Cubs winning the World Series.

Despite Crowing, Illinois Income Tax Still Relatively Low

The Huffington Post | Will Guzzardi | Posted 05.25.2011 | Chicago

Since Illinois lawmakers passed a two-point income tax increase -- raising rates from three to five percent to address the state's dire budget crisis ...

Cash-Strapped State Passes 66% Income Tax Hike

AP | DEANNA BELLANDI | Posted 05.25.2011 | Chicago

SPRINGFIELD, Ill. — Illinois Gov. Pat Quinn defended a massive increase in state income taxes passed by lawmakers Wednesday and promised to quic...