Most & Least Taxing States: 2014

By Rebecca Helmes of Bloomberg BNA - 2014-04-14T23:05:22Z

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Massachusetts’ individual income tax rate decreased at the beginning of December, because state revenues had grown enough to trigger a rate cut from 5.25 percent to 5.2 percent. Last year, the Massachusetts legislature enacted a sales tax on computer software services in 2013, only to repeal it a few months later when it proved unpopular with businesses. 

The state has one of the highest cigarette taxes -- at $3.51 per 20-pack, it's second only to New York. Gamblers here might notice that they're taking less in winnings home since last year, when the state started withholding income tax from winnings of more than $600, regardless of the original wager amount.

*Flat rate

**Exemption is $1 million. 

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