convert a traditional IRA to a Roth IRA, recharacterize back to a traditional and then convert to a Roth in the same calendar year or during the 30-day period following a recharacterization. (See Publication 590 for more information.)
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Tax Law Changes by State |
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State |
Personal Income Tax Savings* |
Sales Tax Savings* |
Business Tax Savings* |
Property Tax Savings* |
Other Tax Savings* |
State Totals* |
Type of Tax Cut |
| Colorado | $205.6 | $ 602.2 | $100.0 | $ 907.8 | Personal income tax rate cut | ||
| Connecticut | 109.5 | 109.5 | Sales tax rebate | ||||
| Delaware | 27.5 | 27.5 | Personal income tax rate cut | ||||
| Florida | 197.6 | $512.6 | $187.0 | 897.2 | Cuts on various sales, intangible personal property, school property and unemployment taxes | ||
| Indiana | 187.3 | 106.8 | 294.1 | Cuts on inventory, personal property and personal income taxes | |||
| Iowa | 42.0 | 42.0 | Package of tax cuts | ||||
| Michigan | 210.9 | 210.9 | Cuts on personal income tax and single business tax phaseout | ||||
| Minnesota | 769.1 | 1,300.0 | 2,069.1 | Personal income tax rate cut and sales tax rebate | |||
| Missouri | 333.0 | 333.0 | Personal income tax and exemptions increase | ||||
| Montana | 15.6 | 15.6 | Property tax reductions | ||||
| Nebraska | 30.0 | 30.0 | Increased aid to community colleges | ||||
| New Jersey | 170.0 | 170.0 | Property tax rebate | ||||
| Ohio | 249.2 | 249.2 | Rebate of surplus from personal income tax rate cut | ||||
| Oregon | 167.0 | 167.0 | “Kicker” rebate | ||||
| Pennsylvania | 205.7 | 205.7 | Various business tax cuts | ||||
| Texas | 206.8 | 700.0 | 906.8 | Aid to school districts for property tax relief and workers comp tax rebate | |||
| Vermont | 22.8 | 22.8 | Property tax cuts | ||||
| Wisconsin | 180.6 | 700.0 | 880.6 | Personal income tax cut,
ACROSS THE WEB
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