What You Need to Know About Marginal vs. Effective Tax Rates
Do you know your effective tax rate for 2024? What about your marginal rate? Don’t worry if the answer is no—you’re not alone. The difference between effective and marginal tax rates can be a little confusing, especially if you’re used to receiving a tax refund instead of a bill. Put simply, your effective tax rate […]
State Tax Rates to Change in 2015
The following state tax rate changes will be in effect beginning January 1, 2015: Arizona: Corporate income tax rate drops from 6.5% to 6.0% Illinois: Income tax rate drops from 5% to 3.75% and corporate income tax rate drops from 9.5% to 7.75% Indiana: Income tax rate drops from 3.4% to 3.3% and corporate income […]
