Tax Tips for 2000

You still have six months to protect your holdings from Uncle Sam

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
The chart below shows the laws enacted in 1999 in 19 states and the total impact in tax savings. The new legislation may help you shave your 2000 tax tab.


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,

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