marriage penalty Archive
State Tax Ballot Measures to Watch on Election Day 2022
October 24, 2022
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TweetShareSharePin0 Shares On Election Day 2022, most eyes will be on Congress, with polls showing control of both chambers up for grabs. But the action is not limited to Washington, D.C.: across the country, voters will decide important questions through state and local ballot measures. At the state level, 25 measures in 12 states relate
Colorado Proposition 121: Income Tax Rate Reduction
October 19, 2022
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TweetShareSharePin0 Shares When Coloradans go to the polls this November, they will be given the opportunity to permanently lower their income taxes—or to increase those tax burdens. Colorado Proposition 121 would reduce the state’s flat statutory income tax rate from 4.55 percent to 4.4 percent, effective retroactively for tax year 2022. Colorado Proposition FF, on the
Does Your State Have a Marriage Penalty?
August 16, 2022
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TweetShareSharePin0 Shares Today’s map zeroes in on states that have a “marriage penalty” in their individual income tax brackets. Under a graduated-rate income tax system, a taxpayer’s marginal income is subject to progressively higher tax rates. A marriage penalty or “marriage tax penalty” exists when a state’s income brackets for married taxpayers filing jointly are less than
Georgia Income Tax Reform Would Improve Competitiveness
March 8, 2022
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TweetShareSharePin0 Shares This year’s state legislative sessions have been characterized by a focus on tax policy, with five states already enacting significant individual or corporate income tax reform. Lawmakers in Georgia aren’t interested in being left behind. While HB 1437 was previously a placeholder bill, the sponsors have now shared their plan to consolidate Georgia’s
