state tax exemptions

State tax exemptions are legal allowances that reduce the amount of income or property subject to taxation. They can apply to individuals or organizations and typically aim to support specific groups or activities, such as low-income individuals, veterans, or non-profits. For example, a state may exempt certain income types from taxes, or allow property tax reductions for homeowners. Exemptions lower the tax burden, meaning eligible taxpayers can keep more of their money, which can help stimulate economic activity or provide financial relief. Each state has its own rules and qualifications for these exemptions.