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State tax

What is state tax?

State tax is a financial charge or levy imposed by a U.S. state government on individuals or businesses within its jurisdiction. The collected revenue typically supports public services and infrastructure.

In detail, state tax can take various forms including income tax, sales tax, property tax, and corporate tax. The rate and type of state taxes can vary significantly from one state to another. Some states, for example, have no income tax, while others have high rates. As a founder, understanding the state tax laws where you're operating is essential, as they can significantly impact both your personal finances and the finances of your company.

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