These 9 states are cutting income taxes on Jan. 1. Here's where taxpayers will get a break.
These 9 states are cutting income taxes on Jan. 1. Here's where taxpayers will get a break.
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These 9 states are cutting income taxes on Jan. 1. Here's where taxpayers will get a break.
Summary
Nine states cutting income taxes on January 1, 2025: Indiana, Iowa, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, and West Virginia.
Most reductions occur in Republican-led states, with changes like flat tax rates in Iowa (3.8%) and Louisiana (3%).
Democrat-led New Mexico targets middle- and low-income taxpayers.
Proponents argue these cuts enhance economic competitiveness, while critics warn of potential public service impacts.
Several states plan further reductions in coming years.