Some Americans can start 2026 knowing they may get an Income Tax Break.
The Tax Cut isn’t coming from the Federal Government, but a handful of States, Lowered their Income Tax Rate'
By putting more Money in their Residents’ Pockets, States hope to spur Economic Growth and attract more Workers, Businesses, and Investments.
The Cuts Demonstrate that States continue to embrace Reforms, that will give them a Competitive Edge and Promote continued Economic Growth.
Tax Rates are Falling in these States:
Indiana: Flat Rate falls to 2.95% from 3% last year, with a further Rate Reduction to 2.9% on January 1, 2027. Legislation last year calls for Lowering the Flat Individual Income Tax Rate to a potential 2.55% in 0.05% Increments in Even-numbered years beginning January 1st, 2030, provided Revenue Thresholds are met.
Kentucky: Flat Rate Drops to 3.5% from 4%.
Mississippi: Flat Rate Decreases to 4% from 4.4%, as the Final Reduction as part of a Scheduled Multiyear Phase Down of its Individual Income Ttax.
Montana: Top Marginal Fate Falls to 5.65% from 5.9%, with a further Reduction to 5.4% in 2027. The Lower Rate of 4.7% remains Unchanged, but the Bracket for this Rate is Expanded.
Nebraska: Top Rate Drops to 4.55% from 5.2%, as part of an Ongoing Phase-Down to gradually Reduce the Top Rate to 3.99% by 2027.
North Carolina: Flat Rate Falls to 3.99% from 4.25%, marking the Final Rate Reduction in a Multi-Year Plan, to Cut the Individual Income Tax Rate.
Ohio: Moves to a Flat 2.75% Rate from 3.125% on Income Above $26,050. There is No Tax on Income Below that Threshold.
Oklahoma: Top Rate slides to 4.5% from 4.75%, and Six Individual Income Tax Brackets are Reduced to Three Brackets.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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