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What’s new in sales tax?

TaxConnex

Five states follow with 4% rates: Alabama, Georgia, Hawaii, New York and Wyoming. South Dakota cut its state sales tax rate from 4.5% effective July, the most recent statewide rate reduction since New Mexico trimmed its sales tax rate from 5.125% to 5% in July 2022. Tax breaks galore.

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5 States with the Lowest Combined Business Taxes

CPA Practice

Some key factors to evaluate include: Tax rates Tax rates vary widely across states. Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.