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Financial Literacy

Financial Literacy

Home Finance Taxes State and Local Taxes

State and Local Taxes

Municipal (local) and state taxes include the following:

 

The amount of taxes you pay and even the types of taxes you have to pay depend on where you live. Even if you earn the same amount and have the same filing status as three of your best friends, you could still end up paying very different tax amounts if you live in different states or different cities.

Your state has a website where they list deadlines, forms, and requirements involved in their tax system. They're very eager to get their hands on the money, so they're happy to tell you how to file. In some states, you'll have to file your federal and state taxes separately. Others—such as Delaware, the "Two Birds with One Stone" State—let you file (and even e-file) both at the same time.

Excuse us while we move to Delaware.

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