The Hall income tax is a Tennessee state tax on interest and dividend income from investments. It is the only tax on personal income in Tennessee, which does not levy a general state income tax. The current tax rate is 6 percent, applied to all taxable interest and dividend income over $1250 per person ($2500 for married couples filing jointly).
Hawaii earns the most in tax revenue out of any state in the Union. High-income Hawaiians shoulder the brunt of itâ11% for incomes over $200,000. Since the state has some of the countryâs highest earners, that amounts to significant outlays of cash. All told, the state collects $5,606.70 annually for every taxpayer.
Of the five states, three (Connecticut, New Jersey and New York) have state income taxes with more than one tax bracket and two, Massachusetts and Rhode Island have flat taxes. Rates for top income brackets in 2002 range from a low of 4. 5% (Connecticut) to a high of 6. 85% (New York). For the lowest brackets, tax rates run from 1. 4% in New Jersey to 5. 3% in Massachusetts. Rhode Island is the only one of the five that uses federal tax liability as the basis of its tax.