The bigger the paycheck, the more you’ll have to pay in taxes. But it’s not just Uncle Sam who wants a cut. Most of the 50 states, as well as the District of Columbia, collect income taxes from their residents. Here are 10 states with the highest personal income tax rates.
Have dreams of hitting it big in the Golden State? You better think twice. Single filers can expect to pay 13.30% on income over $1,000,000 ($1,074,996 if you’re married).
High earners in Maine recently saw their tax rates jump from 7.15% to a whopping 10.15%. The increase will be used to provide supplemental funding for K-12 public education. The new rate will apply to those earning over $200,000.
Single with a six-figure salary in the Beaver State? Poor you. You’ll pay 9.90% on earnings over $125,000. Married filers are charged the same rate if they bring in more than $250,000.
Singles in the Minnesota can expect to pay 9.85% on wages above $156,911. Married folks serve the same fate once their pay exceeds $261,510.
Residents in the Hawkeye State must pay 8.98% on wages exceeding $70,785.
- New Jersey
Whether you’re married or single, you must pay 8.97% on wages over $500,000 in the Garden State.
Earn more than $416,700 in Vermont? Your income will be taxed at 8.95%.
- Washington, D.C.
Residents in our nation’s capital are charged 8.95% on income over $1,000,000.
- New York
In the Big Apple, you’ll pay 8.82% on earnings above $1,077,550 ($2,155,350 if you’re married).
Single filers in Hawaii must pay 8.25% on income over $46,000. While married filers pay the same rate on earnings above $96,000.