Alamo Capital Financial Services - Specializing in Tax Free Investing

	---Tax Rates---				# of	--Income Brackets--					---Personal Exemption---
State	Low		High		Brackets	Low			High		Single			Married		Child.
ALABAMA	2.0	-	5.0		3	500	(b)	-	3,000	(b)		1,500		3,000		300
ALASKA	No State Income Tax
ARIZONA	2.59	-	4.54		5	10,000	(b)	-	150,000	(b)		2,100		4,200		2,300
ARKANSAS (a)	1.0	-	7.0	(e)	6	3,699	(b)	-	31,000	(b)		23	(c)	46	(c)	23	(c)
CALIFORNIA (a)	1.0	-	9.3	(w)	6	6,827	(b)	-	44,815	(b)		94	(c)	188	(c)	294	(c)
COLORADO	4.63				1	-----Flat rate-----						-----------None-----------
CONNECTICUT	3.0	-	5.0		2	10,000	(b)	-	10,000	(b)		12,750	(f)	24,500	(f)	0
DELAWARE	2.2	-	5.95		6	5,000		-	60,000			110	(c)	220	(c)	110	(c)
FLORIDA	No State Income Tax
GEORGIA	1.0	-	6.0		6	750	(g)	-	7,000	(g)		2,700		5,400		3,000
HAWAII	1.4	-	8.25		9	2,400	(b)	-	48,000	(b)		1,040		2,080		1,040
IDAHO (a)	1.6	-	7.8		8	1,237	(h)	-	24,736	(h)		3,500	(d)	7,000	(d)	3,500	(d)
ILLINOIS	3.0				1	-----Flat rate-----						2,000		4,000		2,000
INDIANA	3.4				1	-----Flat rate-----						1,000		2,000		1,000
IOWA (a)	0.36	-	8.98		9	1,379		-	62,055			40	(c)	80	(c)	40	(c)
KANSAS	3.5	-	6.45		3	15,000	(b)	-	30,000	(b)		2,250		4,500		2,250
KENTUCKY	2.0	-	6.0		6	3,000		-	75,000			20	(c)	40	(c)	20	(c)
LOUISIANA	2.0	-	6.0		3	12,500	(b)	-	25,000	(b)		4,500	(i)	9,000	(i)	1,000	(i)
MAINE (a)	2.0	-	8.5		4	4,849	(b)	-	19,450	(b)		2,850		5,700		2,850
MARYLAND	2.0	-	5.5		7	1,000		-	500,000			2,400		4,800		2,400
MASSACHUSETTS (a)	5.3				1	-----Flat rate-----						4,125		8,250		1,000
MICHIGAN (a)	4.35				1	-----Flat rate-----						3,300		6,600		3,300
MINNESOTA (a)	5.35	-	7.85		3	21,800	(j)	-	71,591	(j)		3,500	(d)	7,000	(d)	3,500	(d)
MISSISSIPPI	3.0	-	5.0		3	5,000		-	10,000			6,000		12,000		1,500
MISSOURI	1.5	-	6.0		10	1,000		-	9,000			2,100		4,200		1,200
MONTANA (a)	1.0	-	6.9		7	2,500		-	14,900			2,040		4,080		2,040
NEBRASKA (a)	2.56	-	6.84		4	2,400	(k)	-	27,001	(k)		113	(c)	226	(c)	113	(c)
NEVADA	No State Income Tax
NEW HAMPSHIRE	State Income Tax is Limited to Dividends and Interest Income Only.
NEW JERSEY	1.4	-	8.97		6	20,000	(l)	-	500,000	(l)		1,000		2,000		1,500
NEW MEXICO	1.7	-	5.3		4	5,500	(m)	-	16,000	(m)		3,500	(d)	7,000	(d)	3,500	(d)
NEW YORK	4.0	-	6.85		5	8,000	(b)	-	20,000	(b)		0		0		1,000
NORTH CAROLINA (n)	6.0	-	7.75		3	12,750	(n)	-	60,000	(n)		2,000		4,000		2,000
NORTH DAKOTA (a)	2.1	-	5.54	(o)	5	31,850	(o)	-	349,701	(o)		3,500	(d)	7,000	(d)	3,500	(d)
OHIO (a)	0.618	-	6.24		9	5,000		-	200,000			1,450	(p)	2,900	(p)	1,450	(p)
OKLAHOMA	0.5	-	5.5	(q)	7	1,000	(q)	-	8,701	(q)		1,000		2,000		1,000
OREGON (a)	5.0	-	9.0		3	2,900	(b)	-	7,300	(b)		169	(c)	338	(c)	169	(c)
PENNSYLVANIA	3.07				1	-----Flat rate-----						-----------None-----------
RHODE ISLAND	25.0% Federal tax liability (s)								---			---		---		---
SOUTH CAROLINA (a)	0	-	7.0		6	2,670		-	13,350			3,500	(d)	7,000	(d)	3,500	(d)
SOUTH DAKOTA	No State Income Tax
TENNESSEE	State Income Tax is Limited to Dividends and Interest Income Only.
TEXAS	No State Income Tax
UTAH	5.0				1	-----Flat rate-----						(t)		(t)		(t)
VERMONT (a)	3.6	-	9.5		5	32,550	(u)		357,700	(u)		3,500	(d)	7,000	(d)	3,500	(d)
VIRGINIA	2.0	-	5.75		4	3,000		-	17,000			930		1,860		930
WASHINGTON	No State Income Tax
WEST VIRGINIA	3.0	-	6.5		5	10,000		-	60,000			2,000		4,000		2,000
WISCONSIN (a)	4.6	-	6.75		4	9,700	(v)	-	145,460	(v)		700		1,400		700
WYOMING	No State Income Tax
								-
DIST. OF COLUMBIA	4.0	-	8.5		3	10,000		-	40,000			1,675		3,350		1,675

Source: The Federation of Tax Administrators from various sources.
(a) 16 states have statutory provision for automatic adjustment of tax brackets, personal exemption or standard deductions to the rate of inflation. Massachusetts, Michigan, Nebraska and Ohio index the personal exemption amounts only.
(b) For joint returns, the taxes are twice the tax imposed on half the income.
(c) tax credits.
(d) These states allow personal exemption or standard deductions as provided in the IRC.
(e) A special tax table is available for low income taxpayers reducing their tax payments.
(f) Combined personal exemptions and standard deduction. An additional tax credit is allowed ranging from 75% to 0% based on state adjusted gross income. Exemption amounts are phased out for higher income taxpayers until they are eliminated for households earning over $56,500.
(g) The tax brackets reported are for single individuals. For married households, the same rates apply to income brackets ranging range from $1,000 to $10,000.
(h) For joint returns, the tax is twice the tax imposed on half the income. A $10 filing tax is charge for each return and a $15 credit is allowed for each exemption.
(i) Combined personal exemption and standard deduction.
(j) The tax brackets reported are for single individual. For married couples filing jointly, the same rates apply for income under $31,860 to over $126,581. A 6.4% AMT rate is also applicable.
(k) The tax brackets reported are for single individual. For married couples filing jointly, the same rates apply for income under $4,800 to over $54,000.
(l) The tax brackets reported are for single individuals. For married couples filing jointly, the tax rates range from 1.4% to 8.97% (with 7 income brackets) applying to income brackets from $20,000 to over $500,000.
(m) The tax brackets reported are for single individuals. For married couples filing jointly, the same rates apply for income under $8,000 to over $24,000. Married households filing separately pay the tax imposed on half the income.
(n) The tax brackets reported are for single individuals. For married taxpayers, the same rates apply to income brackets ranging from $21,250 to $100,000. Lower exemption amounts allowed for high income taxpayers.
(o) The tax brackets reported are for single individuals. For married taxpayers, the same rates apply to income brackets ranging from $53,200 to $349,701. An additional $300 personal exemption is allowed for joint returns or unmarried head of households.
(p) Plus an additional $20 per exemption tax credit.
(q) The rate range reported is for single persons. For married persons filing jointly, the same rates apply to income brackets ranging from $2,000 to $15,000. The top tax rate is scheduled to fall to 5.25% for tax years after 2008.
(r) Deduction is limited to $10,000 for joint returns and $5,000 for individuals in Missouri and Montana, and to $5,600 in Oregon.
(s) Federal Tax Liability prior to the enactment of Economic Growth and Tax Relief Act of 2001. Or, taxpayers have the option of computing tax liability based on a flat 7.0% (6.5% in 2009) of gross income.
(t) Tax credits are equal to 6% of federal standard/itemized deductions (w/o state taxes paid) and 75% of Federal personal exemption amounts. The credit amount is phased out above $12,000 in income ($24,000 for joint returns).
(u) The tax brackets reported are for single individuals. For married couples filing jointly, the same rates apply for income under $54,400 to over $357,700.
(v) The tax brackets reported are for single individuals. For married taxpayers, the same rates apply to income brackets ranging from $12,930 to $193,950. An additional $250 exemption is provided for each taxpayer or spouse age 65 or over.
(w) An additional 1% tax is imposed on taxable income over $1 million.

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Updated 10/29/08