What to Know About State Tax

What to Know About State Tax

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What to Know About State Tax




















































Analyzing information about stat taxes is difficult because in each state, taxes are assessed in varying levels to provide different services that may be unique to that state.
State tax levels, however, can be used to gauge the state tax burden in each state as well as the services which a state can afford to provide to the residents of that state.
State taxes involve a combination of state sales taxes, state income tax, excise state taxes, and user fees. A state tax may be director applied to residents or may be felt indirectly.
In some states, such as Alaska, there are no state taxes for personal income tax, nor is there a sales state tax. However, local governments in the state are allowed to charge their own local sales taxes. Instead, the entirety of the Alaskan state tax burden is felt by state taxes charged to the oil and gas industries.
In 2007, the total state tax revenue was $749,785,186,000, or just shy of $750 billion charged to 300,702,464 residents.

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