Millionaires paid as much as 98.9% of all filers. New York State’s progressive tax system imposes a lower tax burden on lower income taxpayers, while nearly half of New York State’s taxes are paid by 84,000 taxpayers with the highest incomes. Source: State Personal Income Tax Rates, 2023 | Federation of Tax Administrators Iowa is phasing-in a flat rate by 2027, while Nebraska and South Carolina is phasing-in a reduced top rate by 2027 (14) Louisiana tax rates may be adjusted down if revenue trigger is met on April 1st. For married taxpayers filing jointly, the same tax rates apply to the top income bracket of $405,550 (13) The Wisconsin income brackets reported are for single individuals. For married taxpayers filing jointly, the same tax rates apply to the top income bracket of $279,450. (12) Vermont’s income brackets reported are for single individuals. For married persons filing jointly, the same tax rates apply to the top income bracket of $12,200. (11) The income brackets reported for Oklahoma are for single persons.

For married couples filing jointly, the same tax rates apply to the top income bracket of $491,350. (10) The income brackets reported for North Dakota are for single individuals. For married couples filing jointly, the same tax rates apply to the top income bracket of $315,000. (9) The income brackets reported for New Mexico are for single individuals. (8) Mississippi rate decreases in 2024 to 4.8% if net general revenue goal is met. For married couples filing jointly, the same tax rates apply to the top income bracket of $304,971 (7) The income brackets reported for Minnesota are for single individuals.

An additional tax of 4% on income of $1 million (6) Short-term capital gains in Massachusetts is taxed at 12% rate. For married couples filing jointly, the same tax rates apply to the top income bracket of $300,000. (5) The income brackets reported for Maryland are for single individuals. For married couples filing jointly, the same tax rates apply to the top income bracket of $10,000 (4) The Georgia income brackets reported are for single individuals. (3) California imposes an additional 1% tax on taxable income over $1 million, making the maximum rate 13.3% over $1 million. (2) For joint returns, taxes are twice the tax on half the couple’s income Oregon does not index the income brackets for $125,000 and over. (1) 16 states have statutory provision for automatically adjusting to the rate of inflation the dollar values of the income tax brackets, standard deductions, and/or personal exemptions.

Top state personal income tax rates and brackets as of JanuState

Population trending downward from 2017 through 2019 upward trend from 2019 to 2020 trending down from 2020 to 2021. Personal income tax returns filed from 2017 to 2021 upward trend 2017 through 2020, then quick downturn 2021. More than 10.8 million individual taxpayers filed personal income taxes in New York in 2021, down from almost 11 million in 2020 when the COVID-19 pandemic hit. Personal income tax collections (in millions of dollars) Personal income tax collections by year Calendar year Personal income tax collected in millions of dollars from 2017 to 2021. This is the state’s largest revenue source, supporting programs and services including education ($41.2 billion), health ($28 billion), and public safety ($2.8 billion). The Tax Department collected more than $67 billion in personal income taxes in 2021.

2021 or income tax brackets