11 States Set To Cut Individual Tax Rates In 2023

  • Eleven states are set to reduce their individual income tax rates on Jan. 1.
  • Those states are: Arizona, Idaho, Indiana, Iowa, Kentucky, Mississippi, Missouri, Nebraska, New Hampshire, New York, and North Carolina.
  • Three of these states – Arizona, Idaho, and Mississippi –will also move away from a graduated-rate income tax to a flat tax where all income is taxed at the same rate regardless of income level, the Tax Foundation reported.
  • Over the past two years, more than 20 states have cut individual income tax rates.
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