Tax rates by state

Josh Nowack

April 1, 2015

 Income State Summary by State

Personal Income Tax Rate Information
StateCapital loss--Carry overCredit against other incomeHolding periodPercent recognizedGain or loss recognizedPersonal Income Tax Rate--2015
AK N/A N/A N/A N/A N/A N/A
AL Not allowed None 1 year 100% Yes Ranges from 2% to 5%
AR No time limit $3,000 None 30% Yes Ranges from 1% to 7%
AZ No time limit $3,000 1 year 100% Yes Ranges from 2.59% to 4.54%
CA No time limits $3,000 1 year 100% Yes Rates range from 1% to 12.3%
CO Unlimited $3,000 5 years 100% Yes 4.63%
CT Indefinitely $3,000 1 year 100% Yes 3%, 5%, 5.5%, 6%, 6.5%, 6.7%
DC No time limit $3,000 1 year 100% Yes Ranges from 4% to 8.95%
DE No time limit $3,000 1 year 100% Yes Ranges from 2.2% to 6.6%
FL N/A N/A N/A N/A N/A N/A
GA Carry forward until absorbed. $3,000 1 year 100% Yes Ranges from 1% to 6%
HI Allowed until exhausted $3,000 1 year 100% Yes Ranges from 1.4% to 11%
IA Carry forward until absorbed. $3,000 - Follows federal 1 year- Follows federal 100%- Follows federal Yes- Follows federal Ranges from 0.36% to 8.98%
ID Carry forward until absorbed. $3,000 1 year 100% Yes Ranges from 1.6% to 7.4%
IL No time limits $3,000 1 year 100% Yes 3.75%
IN Indefinitely $3,000 1 year 100% 100% 3.3%
KS Allowed until exhausted $3,000 1 year 100% Yes Ranges from 2.7% to 4.6%
KY Indefinitely $3,000 1 year 100% Yes Ranges from 2% to 6%
LA Carry forward until absorbed. $3,000 1 year 100% Yes Ranges from 2% to 6%
MA Yes, until the last of the capital loss deduction is used $2,000 1 year 100% Yes 5.15%
MD Allowed until exhausted $3,000 1 year 100% Yes Ranges from 2% to 5.75%
ME No time limits $3,000 1 year 100% Yes Ranges from 6.5% to 7.95%
MI Carry forward until absorbed $3,000 1 year 100% Yes 4.25%
MN Carry forward until absorbed $3,000 1 year 100% Yes Ranges from 5.35% to 9.85%
MO Carry forward until absorbed $3,000 1 year 100% Yes Ranges from 1.5% to 6%
MS Carry forward until absorbed. $3,000/$1,500 for married individuals filing separately. 1 year 100% Yes- Follows federal Ranges from 3% to 5%
MT Not allowed $3,000 1 year 100% Yes Rates range from 1% to 6.9%
NC Indefinitely $3,000 1 year 100% Yes 5.75%
ND Indefinite $3000 1 year 100% Yes Rates range from 1.22% to 3.22%
NE Yes $3,000 1 year 100% Yes Rates range from 2.46% to 6.84%
NH Not Applicable Not applicable Not applicable Not applicable Not applicable 5%
NJ Not allowed None None 100% Yes Ranges from 1.4% to 8.97%
NM No time limits $3,000 1 year 100% Yes Ranges from 1.7% to 4.9%
NV N/A N/A N/A N/A N/A N/A
NY Indefinitely $3,000 1 year (federal long term capital gains holding period) 100% Yes Ranges from 4% to 8.82%
OH No time limit $3,000 1 year 100% Yes Ranges from 0.528% to 5.333%
OK Carry over until absorbed. $3,000 5 years 100% Yes Ranges from 1/2% to 5.25%
OR No time limits $3,000 1 year 100% Yes Ranges from 5% to 9.9%
PA Not allowed None No provision for holding period. 100 Percent Yes 3.07%
RI Indefinitely $3,000 1 Year 100% Yes Ranges from 3.75% to 5.99%
SC No time limit None One Year 56% Yes Ranges from 2.5% to 7%
SD N/A N/A N/A N/A N/A N/A
TN Not Applicable Not applicable Not applicable Not applicable No 6%
TX N/A N/A N/A N/A N/A N/A
UT Unlimited $3,000 1 Year 100% Yes 5%
VA No time limits $3,000 1 Year 100% Yes Ranges from 2% to 5.75%
VT No time limit $3,000 One Year 60% Yes Ranges from 3.55% to 8.95%
WA N/A N/A N/A N/A N/A N/A
WI No time limit $500 1 Year 70% Yes Rates range from 4.0% to 7.65%
WV No time limits $3,000 1 year 100% Yes Ranging from 3% to 6.5%
WY N/A N/A N/A N/A N/A N/A
Information current as of 4/1/2015

   

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