State Income Taxes

State income tax From Wikipedia, the free encyclopedia State income tax is an income tax in the United States that is levied by each individual state.

Some states choose to impose no income tax. These states are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. Additionally, New Hampshire and Tennessee limit their state income taxes to dividends and interest income only. As of 2007, the highest rate of state income tax is that of Vermont, with a maximum rate of 9.5%. Of those states which impose an income tax, the lowest maximum rate is that of Illinois, which levies a flat tax of 3%.

Most states (36) have a progressive income tax, where the rate rises as an income gets larger. In California, for instance, the rate begins at 1% at $6,622 in income and rises to 9.3% over $43,468. In 2005, California added a mental health tax of 1% on incomes greater than $1,000,000, making the marginal income tax rate in California 10.3% at the extreme income ranges.

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Federal Tax Form 1040

Brief History of IRS Origin - The roots of IRS go back to the Civil War when President Lincoln and Congress, in 1862, created the position of commissioner of Internal Revenue and enacted an income tax to pay war expenses. The income tax was repealed 10 years later. Congress revived the income tax in 1894, but the Supreme Court ruled it unconstitutional the following year.

16th Amendment- In 1913, Wyoming ratified the 16th Amendment, providing the three-quarter majority of states necessary to amend the Constitution. The 16th Amendment gave Congress the authority to enact an income tax. That same year, the first Form 1040 appeared after Congress levied a 1 percent tax on net personal incomes above $3,000 with a 6 percent surtax on incomes of more than $500,000.

In 1918, during World War I, the top rate of the income tax rose to 77 percent to help finance the war effort. It dropped sharply in the post-war years, down to 24 percent in 1929, and rose again during the Depression. During World War II, Congress introduced payroll withholding and quarterly tax payments.

• 1913 Form 1040 (PDF 126KB, 4 pages, including instructions)

A New Name - In the 50s, the agency was reorganized to replace a patronage system with career, professional employees. The Bureau of Internal Revenue name was changed to the Internal Revenue Service. Only the IRS commissioner and chief counsel are selected by the president and confirmed by the Senate.

Today’s IRS Organization - The IRS Restructuring and Reform Act of 1998 prompted the most comprehensive reorganization and modernization of IRS in nearly half a century. The IRS reorganized itself to closely resemble the private sector model of organizing around customers with similar needs.

• Today's IRS Organization

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Federal Income Tax Deadline 2

Tax Day From Wikipedia, the free encyclopedia Tax Day is the common American slang term for the day that income taxes are due from most employed American residents, usually April 15th. Although income tax was collected once during the civil war, it was not collected yearly until 1913 when the 16th Amendment was added to the Constitution giving the United States Congress the legal authority to tax people's incomes. The filing deadline in 1913 was March 1. It was changed to March 15 in 1918, and to April 15 in 1955.

The filing deadline remains April 15, but in the event that it falls on a weekend or holiday, it moves to the next business day.

Tax Day occasionally falls on Patriots' Day, a civic holiday in the Commonwealth of Massachusetts and state of Maine, or the preceding weekend. When this occurs the tax deadline is extended by a day for the residents of Maine, Maryland, Massachusetts, New Hampshire, New York, Vermont, and the District of Columbia. This is because the IRS processing center for these areas is located in Andover, Massachusetts.

In 2007, Tax Day was on Tuesday, April 17, 2007 because April 15 fell on a Sunday and Monday April 16 was Emancipation Day, a legal holiday in the District of Columbia. In addition to these extensions, in 2007 due to a Nor'easter that hit, certain states were granted an additional 2 days for taxes bringing the deadline to April 19th. Those who filed under this extension had to write "April 16 Storm" on the return.

For 2008, Tax Day will be on Tuesday, April 15, 2008.

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About Images on DefenseLINK, All of these files are in the public domain unless otherwise indicated.However, we request you credit the photographer, videographer as indicated or simply "Department of Defense."

Generally speaking, works created by U.S. Government employees are not eligible for copyright protection in the United States. See Circular 1 "COPYRIGHT BASICS" from the U.S. Copyright Office.

Federal Income Tax Deadline

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About Images on DefenseLINK, All of these files are in the public domain unless otherwise indicated.However, we request you credit the photographer, videographer as indicated or simply "Department of Defense."

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Taxation in the United States, From Wikipedia, the free encyclopedia

The first federal statute imposing the legal obligation to pay a federal income tax was adopted by Congress in 1862, to pay for the Civil War. The 1862 levied a 3% tax on incomes above $600, rising to 5% for incomes above $10,000. Rates were raised in 1864. This income tax was repealed in 1872, but a new income tax statute was enacted as part of the 1894 Tariff Act.[1] However, in 1895 the Supreme Court struck down a portion of the statute as unconstitutional — specifically, the tax on income from property — as an unapportioned direct tax.

At that time, the United States Constitution specified that Congress may only impose a "direct" tax if it apportions that tax among the states according to each state's census population.[2] In its 1895 decision the Supreme Court held that a tax on income from property was a direct tax under the Constitution, and so had to be apportioned.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article, Taxation in the United States