Reported 1 day ago
Mississippi and Kentucky are on the verge of becoming the first states to eliminate personal income taxes since Alaska did so in 1980. Both states have implemented recent laws aimed at gradually reducing their income tax rates, with Mississippi targeting a complete repeal by 2040 and Kentucky setting conditional triggers for reductions. While proponents believe these changes could stimulate economic growth, concerns loom about potential reliance on other taxes, especially in the face of possible federal funding cuts.
Source: YAHOO