State Tax Policies

State tax policies refer to the rules and rates that states establish to collect revenue from residents and businesses. These include income taxes, sales taxes, property taxes, and other levies that fund public services like education, infrastructure, and healthcare. Policies vary widely between states—some have high taxes but many public services, while others keep taxes low but may have fewer services. States aim to balance funding government functions with maintaining a competitive environment for residents and businesses. Understanding these policies helps individuals and companies plan financially and assess the overall economic environment of a state.