6 States Raising Taxes in 2018
Let's face it, no one enjoys preparing their taxes or complying with federal and state tax code each and every year. It's not hard to see why, either. The federal tax code was nearing 10.1 million words in length as of 2015, and it's gained an average of 144,500 words per year since 1955. If not for the assistance of tax software and tax professionals, preparing your taxes might otherwise take a really long time.
Nevertheless, we pay our taxes and are mindful of compliance because we know it keeps the lights on for the federal, state, and local governments. It also allows for jobs to be created and infrastructure to be built and maintained.
But in 2018, a few of those state governments will be requesting more from their residents. If you live in one of the following six states, now might be the time to prepare for a higher tax liability in the upcoming year.
Source: Fool.com
