What are state taxes? Which states are exempt from state taxes?

2023-05-03

State corporate income tax is abbreviated as state tax. It is a corporate income tax levied by each state government. It is levied annually at 0-12% of net profits (varies by state), depending on state and county government requirements. Six states are exempt from state tax: Nevada, Washington, Texas, Wyoming, Ohio, and South Dakota. Note: Delaware may apply for a state tax exemption when the conditions are met, but it is not a “tax exempt state”.

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