State and local taxes vary widely from place to place.
Here are the sales and income tax rates faced by residents of the 25 biggest US cities.
Tax season is upon us, and while most Americans are focused on their federal income taxes, state and local taxes vary wildly from place to place and can hit your wallet hard.
Using state sales and top marginal income tax figures from the Tax Foundation, and local sales and income tax rates mostly from state and local government websites, we found the total burden of these taxes on residents of the 25 largest US cities, according to the US Census Bureau's 2017 American Community Survey.
It's worth noting that many state and municipal governments also rely on other taxes and fees for revenue, including various licenses and property taxes. For the sake of comparison, we decided to focus on sales and income taxes.
Here are state and local sales and income tax rates for the top 25 cities, listed in order by population from largest to smallest:
Where you live can help or hinder your ability to make ends meet. A myriad of taxes—property, license, state and local sales, property, inheritance, estate and excise taxes on gasoline—eat away at your disposable income. Weighing the tax landscape against your financial picture lets you stretch your dollars.
Common lifestyle changes, like getting a job or getting married, can change your tax liability. To avoid being caught off guard by an unexpected tax bill or huge tax refund, you'll need to adjust your withholdings on your paycheck.
If you usually get a tax refund, but would like to start putting more money in your pocket every month, we can help. Yes, you still have to fill out a W-4 form. But we've developed a quick and easy guide to assist you.
Few realizations are more painful than realizing that you forgot to include a tax deduction that would have lowered your tax bill or increased your tax refund on your tax return. Here are some tax deductions that you shouldn't overlook.