10 States Making Big Changes to Income Tax Rates in 2025
Nine states reduced their tax rates effective Jan. 1, 2025, and one eliminated its income tax. Find out if you live in one of the states making big changes.
How Withholding Tax Rates Affect Your Income
After identifying your tax rate, multiply your taxable income by this percentage to calculate your withholding amount. Keep in mind that any additional income—like interest or side jobs—should also be included in your calculations, as they can affect your total tax liability.
Bill to lower Kentucky’s income tax again clears first hurdle
Leaders in Kentucky’s General Assembly aim to eliminate the state income tax. Three years ago, they passed House Bill 8, a formula of financial triggers that, when met, would sl
Kentucky House votes 90-7 to lower state’s individual income tax rate
The Kentucky House voted 90-7 to lower the state’s individual income tax rate on Thursday. Republicans delivered on a top priority just three days into this year’s 30-day legislative session as they moved on House Bill 1.
Income tax cut clears Kentucky House on bipartisan vote
Republicans in the Kentucky House easily advanced a bill to cut the state’s individual income tax furthering their goal of eventually ending it.
Plan to lower Kentucky's income tax advances with bipartisan support — and some caution
In a 90-7 vote, the Kentucky state House voted Thursday to advance a bill that would cut the state income tax rate from 4% to 3.5%.
Trump tax cuts, if made permanent, stand to benefit highest income earners, Treasury analysis shows
At the very top of Republicans’ 100-day agenda with President-elect Donald Trump in the White House is the plan to renew some ...
When is Tax Day 2025? All about deductions, income brackets, credits and deadlines
Here are the tax brackets for 2024, which are the taxes you pay in 2025. Income tax is progressive: the more you earn, the ...
New Tax Brackets in 2025 Could Impact Your Paycheck—Here's What to Expect
Taxpayers are starting to see the effects of the new federal income tax brackets for 2025 in their first paychecks of the ...
It’s Not Too Soon To Protect Yourself From Income Tax Identity Theft
The year 2024 has not quite come to a close and many people may not yet be thinking about filing their 2024 income tax return ...
What’s most likely to be in the Trump tax cut legislation
Many key portions of President-elect Donald Trump’s signature legislation are set to expire in 2026, so Republicans have made ...
Income Tax: These deductions and exemptions are allowed only under old tax regime
This means if you want to avail any of these exemptions, you must opt specifically for the old tax regime. Here, we list some ...
House GOP pledges major movement on income tax reduction in General Assembly's first week
Winter weather didn't stop the Kentucky General Assembly from gaveling in Tuesday — and moving quickly on key priorities for ...
Kentucky House votes to reduce the individual income tax rate, a top GOP priority
The Kentucky House has voted to reduce the individual income tax rate, as Republicans deliver on a top priority three days ...
Number Of Flat And Zero Income Tax States Grows As 2025 Begins
The trend of states moving toward lower and flatter income tax rates has continued apace in 2024, is poised to persist into ...
Missouri Republicans want income tax cuts. But services could be taxed instead under plan
Missouri residents may soon pay a flat 4% state income tax, under a plan advanced by Republican lawmakers who want to ...
Taxpayers can use free IRS tool to file 2024 federal income taxes as soon as Friday
The IRS announced that eight private-sector partners will participate in its Free File program during the 2025 tax season.