Sentences with phrase «personal average tax rate»

Not exact matches

The tax code isn't much better, and with many entrepreneurs using pass - through entities that have them paying tax at a personal income tax rate (vs. corporate income tax rate), any future corporate tax reform is not likely to affect the average entrepreneur favorably.

As a result, personal income tax revenues grew at a 15.1 percent rate in the fourth quarter of 2017, well above the 3.2 percent average rate of the previous four quarters.

Of the $ 3.2 billion year - over-year improvement, budgetary revenues were up by $ 3.9 billion, primarily due to higher personal income tax revenues (up $ 3.4 billion, reflecting increases in employment and average wages) and employment insurance premiums (up $ 1.6 billion reflecting higher premium rates and an increase in maximum insurable earnings).

While the personal income tax, which has a top rate of 5 %, is slightly lower than the national average for state income taxes, the statewide sales tax of 7 % is slightly above the national average.

For example, corporate profits have a much higher average effective tax rate than that personal income.

This is no statistical fluke — the top 10 most popular destinations for those who've left have an average personal - income tax of 2.9 percent, six points lower than New York's top rate.