No. 457. State Government Individual Income Taxes: 1984 [As of July 1. Only baste rates, brackets and exemptions are shown. Taxable income rates and brackets apply to individuals; other schedules may be used for married taxpayers filing jointly or separately and/or heads of houshotds m California, Georgia, Hawaii, Idaho, Kansas, Maine, New Mexico, Oklahoma. Oregon, Utah, and West Virginia- Alaska. Flood*. Nevada, South Dakota, Texas, Washington, and Wyoming have no State income tax] X Not applicable 'The lesser of either a) the percentage indicated, multiplied by adjusted gross income or b) the < value listed. * A State provision that allows the taxpayer to deduct fully the Federal income tax payment reduces the effective marginal tax rate for persons in the highest State and Federal tax brackets by approximately one-half the nominal tax rate—the deduction is of a lesser benefit to other taxpayers. 'States in which one or more local governments levy a local income uu * Indexed by an inflation factor. Colorado, Iowa, and Wisconsin have suspended indexing through at least 1964. Oregon and South Carolina are scheduled to begin indexing in 1964. * Tax credit * There is an income tax on interest and drvidenc income only. The rate of this tax ranges from 6% of interest and dividend income for taxpayers with an AGI of $50.00O-$59.999 to 13% of such income of taxpayers with an AGI over $100,000 Capital gains are taxed at 7% after an exemption of $100 » applied. T Federal income tax deduction limited to $300 ($600 married) ■ A minimum standard deduction exists In instances where the percentage standard deduction is leas than the minimum, the minimum deduction amount should be taken * Tax cannot reduce after-tax income of taxpayer to below $5,000. t0 Rate includes a 7.5% surcharge which has been n effect since 1976. 10% (flat rate) imposed on net gams, interest and dividends. Tax cannot reduce after-tax income to bason $3,000 ($5,000 married couple) '' Exemption is the smaller of $4,400 or $3,000 plus the Income of the spouse having the smaller earned income. '* The rate will drop to 5.35 in January 1985. 1' There is a 5% tax on dividend and interest income (excluding income from savings bank deposits) in excess of $ i 200 ($2,400, married) M No taxpayer is subject to tax if gross income is $3,000 or less ($1,500 rnarned. hkng separately] l* No tax due from individuals with an adjusted gross income of $2,500 or less, or mamed head of househow, or survMng spouse of $5,000 or less. "An additional exemption of $1,100 is allowed the spouse with the smallest income Joint returns not allowed "An additional $550 is allowed a mamed woman with separate income Joint returns are not allowed '• Taxpayers have the option of paying a tax of 10.5% of the taxpayers adjusted Federal income tax liability '• Taxpayer* may choose between a $1,000 personal income exemption tor each exemption, or a $650 personal exemption plus a $20 tax credit for each exemption. 10 These tax rates and brackets apply to single persons not deducting Federal income tax For individuals deducting Federal income tax. rates range from 5% of the first $1,000 to 17% on income over $49,000. ai Fedora) tax deduction limited to $7,000 ($3,500 mamed. filing separately). ■" Federal tax deduction limited to $500. ta Interest and dividends taxed at 6%; dividends from Tennessee corporations taxed at 4%. "A 12% surcharge on the tax liability for taxpayers with taxable income over $10,000 levied until Jury 1965. Source Advisory Commission on Intergovernmental Relations. Washington, DC. Significant Features of Fiscal Federalism, tOSS84, forthcomrng Parimutuel Taxes and Lotteries-Severance Taxes 281 No. 458. GROSS REVENUE OF SELECTED STATES FROM PARIMUTUEL AND AMUSEMENT TAXES AND LOTTERIES, 1980 TO 1982, AND BY STATE, 1982 (For fiscal years; see text, p. 259) X Not applicable. Z Less than $50,000. "Excludes commissions. Includes States whose gross revenues were less than $1,000,000. Source: U.S. Bureau of the Census, State Government Finances in 1982, series GF82, No. 3, and earlier issues. No. 459. STATE GOVERNMENT REVENUE FROM SEVERANCE TAXES, BY STATE: 1975 TO 1983 (In millions of dollars. Severance taxes are taxes imposed distinctively on the removal of natural products, such as oil, gas, other minerals, timber, and fish; from land or water and measured by value and/or quantity of products removed or sold. See source for information on particular taxes (including changes in tax rates) and additional analytical detail. For fiscal years see text, p. 259. For composition of regions, see fig. I, inside front cover) X Not applicable. Z Less than $50,000. No. 460. Finances Of State-administered Unemployment Compensation Systems, [In minions of dollars. For fiscal year ending in year shown; see text page 260] Tax (net amount received from employers and employees including penalties and interest) year. 'In U.S. Treasury divisional totals exclude DC. Department of Labor. B Unemployment I 1 Credited by US Government _. rai aovsnces * End ot neca* State clearing and benefit accounts Minus sign indicates negative balance. TU.S. and annual Based on data reported by the U.S. No. 461. Number Of Local Governments, By Type—States: 1977 And 1982 [Limited to governments actually in existence. Excludes, therefore, a few counties and numerous townships and "incorporated places" existing as areas (or which statistics can be presented as to population and other subjects, but lacking any separate organized county, township, or municipal government] - Represents zero. * Includes other types ot governments not shown separately ■ Includes "town" governments in the 6 New England States and in Minnesota, New York, and Wisconsin. Source: US. Bureau of the Census. Census of Governments: 1977 and 1962, vol. 1. No. 1, Governmental Organization. No. 462. County, Municipal, And Township Governments, 1982, And Their Estimated Population, 1980, By Population-size Groups [Number of governments as of January 1982; population as of April 1980. Township governments include "towns" in the 6 I England States, Minnesota, New York, and Wisconsin] Source: U.S. Bureau of the Census, Census of Governments: 1982, vol. 1, No. 1, Governmental Organization. No. 463. County Governments—Summary Of Finances, 1975 To 1982, And Per Capita, By Population-size Group, 1982 [Per capita based on population as of April 1, 1980. Covers fiscal years ending between July 1 of preceding veer and June 30 of year stated. Represents all counties and their dependent agencies (including dependent school systems where applicable.)) |