|
April 27, 2000 -- Because the federal
income tax is the biggest and usually the first tax we see
listed on our pay stubs, we naturally tend to focus on it.
But state government takes a bite out
of our spending money, too. Bankrate will help you stay on
top of what your localities are collecting -- income, sales,
personal property or investment taxes, or often a combination
of all.
Here's a look at some recent tax actions
across the nation.
Idaho
taxpayers -- single and married -- get some breaks
BOISE -- Many married Idaho taxpayers should see their state
tax bill fall next year, thanks to a tax relief bill that
became law on federal tax day 2000.
In addition to lowering taxes for joint
filers, Gov. Dirk Kempthorne also signed legislation on April
17 lowering the tax rate slightly for all state residents
and giving self-employed workers a larger medical expense
deduction.
But there is a drawback: the tax measures
are effective only for the 2000 tax year. If lawmakers want
to extend the measures, they'll have to introduce new legislation
during the next meeting of the state assembly.
The marriage tax law will raise the standard
deduction for joint filers to double that of singles. This
year, the single standard deduction was $4,300 while joint
filers could take a $7,200 deduction. The bill will raise
the joint deduction amount by $1,400 to $8,600.
Idaho's individual income tax rate also
will drop by 0.1 percent next year, from 8.2 percent to 8.1
percent. Self-employed taxpayers will be able to deduct the
full cost of their health insurance payments on state returns.
The bill also indexes the tax bracket for inflation.
Alaskan
cruise ship tax eyed
JUNEAU -- Vacationing in the largest state may soon cost a
bit more. The Alaska Senate has passed a bill that would implement
a $50 tax on each passenger aboard cruise ships entering state
waters.
Republican Sen. Rick Halford says the
tax is necessary to help regulate the profitable and mostly
foreign-owned cruise ships that now pay little to operate
in the state. The tax would bring in more than $30 million
from the estimated 600,000 cruise ship passengers who visit
the state each year.
Other lawmakers, however, expressed concerns
about the fairness of the tax and its possible impact on tourism.
A $5-per-passenger fee already is in place
in the state capital. Halford's higher tax would displace
local charges such as Juneau's, but $5 would be rebated back
to the local government in each port town a passenger visited.
All cruise tax money would be earmarked for the operation
of state-owned ports and harbors.
The cruise tax emerged after a separate
bill to require recreational ships and other large vessels
to follow the state's oil spill response laws stalled in the
Alaska House.
|