The following states impose a special income tax rate on "The Rich."
State - Tax Rate - Applicable
Hawaii - 11.00% - Income > $ 200,000
California - 10.55% - Income > $1,000,000
New Jersey - 8.97% - Income > $500,000
New York - 8.97% - Income > $500,000
(plus NY City income tax rate of 3.648%, for a 12.618% rate)
Maryland - 6.25% - Income > $1,000,000
(plus country income tax that averages 2.98%, for a 9.23% rate)
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NOTE: This website / blog summarizes tax and legal information for informational purposes only. The application of this information to a specific situation may involve more complex analysis, or the consideration of other provisions or information.
The information contained herein should not be construed as legal advise as it has been condensed from, and constitutes a general summary of, legislation, administrative rulings, cases, and other information. The information is not a substitute for the advice of an attorney or accountant.