Tax Revenue and Economic Performance Analysis

Hawaii's tax brackets are more progressive than most states Rates on Taxable Income for selected states (married, filed jointly) Adjusted Gross Income 50,000 75,000 100,000 150,000 350,000 Ratio 350,000/ Marginal Effective Marginal Effective Marginal Effective Marginal Effective Marginal Effective 50,000 Hawaii 7.60% 5.72% 7.90% 6.36% 8.25% 6.76% 8.25% 7.25% 8.25% 7.82% 137% California 4.00% 2.16% 6.00% 3.17% 8.00% 4.21% 9.30% 5.86% 9.30% 7.83% 363% Maryland 4.75% 4.64% 4.75% 4.68% 4.75% 4.70% 5.00% 4.71% 5.50% 5.13% 110% Colorado 4.63% 4.63% 4.63% 4.63% 4.63% 4.63% 4.63% 4.63% 4.63% 4.63% 100% Virginia 5.75% 5.23% 5.75% 5.41% 5.75% 5.49% 5.75% 5.58% 5.75% 5.68% 109% Year 2018 Using standard deduction and no dependents 23

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