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Texas Income Tax Calculator 2023-2024
If you make $70,000 a year living in Texas you will be taxed $7,660. Your average tax rate is 10.94% and your marginal tax rate is 22%. This marginal tax rate means that your immediate additional income will be taxed at this rate.
Use our income tax calculator to estimate how much tax you might pay on your taxable income. Your tax is $0 if your income is less than the 2023-2024 standard deduction determined by your filing status and whether you’re age 65 or older and/or blind.
After-Tax Income
$62,340
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What You Need To Know About Texas State Taxes
Texas is one of seven states that don’t have an individual income tax. The other states without an individual income tax are:
- Alaska
- Florida
- Nevada
- South Dakota
- Tennessee
- Wyoming
Washington and New Hampshire charge a state income tax only on investment income and capital gains.
Instead of taxing income, Texas generates revenue from sales and use tax, property tax and corporate income tax. According to the Tax Foundation, Texas has the sixth-lowest tax burden among the 50 states and D.C. for the calendar year 2022 (the latest available data).
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TaxSlayer Premium
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Cash App Taxes
$0
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Sales Tax and Sales Tax Rates
Texas charges a sales and use tax of 6.25% on retail sales, leases and rentals unless the item or service is exempt. Items that are exempt from sales and use taxes include groceries, vitamins and over-the-counter medicines. Localities may charge up to an additional 2% tax for a maximum combined rate of 8.25%.
Franchise Income Tax
Texas imposes a franchise tax, which is a tax on certain entities formed, organized or doing business in the state. Among the entities that may be taxed are:
- Corporations
- Limited liability companies (LLCs)
- Banks
- S corporations
- Professional corporations
- Partnerships
- Other legal entities
The state taxes a corporation based on its business type, income threshold and deductions. The franchise tax rate ranges from 0.331% to 0.75% on gross revenue for tax years 2022 and 2023.
Property Tax and Exemptions
The state of Texas doesn’t assess a property tax on real estate, but all of its localities do.
The state does provide exemptions that reduce property taxes for qualified owners. Homeowners, veterans, people with disabilities, senior citizens and charitable organizations may be eligible for property tax exemptions.
Inheritance and Estate Tax and Inheritance and Estate Tax Exemption
Texas does not have an inheritance or estate tax.
Compare the best tax software of 2024
Compare Your After-Tax Income To Other States
State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- Washington, D.C.
Income Tax Rate By State
View how much tax you may pay in other states based on the filing status and state entered above.
| State | Net Pay | Effective State Tax Rate | Rank |
|---|---|---|---|
| Alaska | $ 62,340 | 0.00% | 1 |
| Florida | $ 62,340 | 0.00% | 1 |
| Nevada | $ 62,340 | 0.00% | 1 |
| New Hampshire | $ 62,340 | 0.00% | 1 |
| South Dakota | $ 62,340 | 0.00% | 1 |
| Tennessee | $ 62,340 | 0.00% | 1 |
| Texas | $ 62,340 | 0.00% | 1 |
| Washington | $ 62,340 | 0.00% | 1 |
| Wyoming | $ 62,340 | 0.00% | 1 |
| North Dakota | $ 61,569 | 1.10% | 10 |
| Ohio | $ 61,090 | 1.79% | 11 |
| Arizona | $ 60,746 | 2.28% | 12 |
| Rhode Island | $ 60,227 | 3.02% | 13 |
| Pennsylvania | $ 60,191 | 3.07% | 14 |
| Louisiana | $ 60,137 | 3.15% | 15 |
| Indiana | $ 60,111 | 3.18% | 16 |
| New Jersey | $ 60,019 | 3.32% | 17 |
| Colorado | $ 59,830 | 3.59% | 18 |
| New Mexico | $ 59,824 | 3.59% | 18 |
| Vermont | $ 59,816 | 3.61% | 20 |
| Connecticut | $ 59,765 | 3.68% | 21 |
| Wisconsin | $ 59,599 | 3.92% | 22 |
| Michigan | $ 59,577 | 3.95% | 23 |
| Mississippi | $ 59,555 | 3.98% | 24 |
| California | $ 59,552 | 3.98% | 24 |
| Oklahoma | $ 59,552 | 3.98% | 24 |
| Missouri | $ 59,502 | 4.05% | 27 |
| North Carolina | $ 59,483 | 4.08% | 28 |
| Maryland | $ 59,331 | 4.30% | 29 |
| Arkansas | $ 59,185 | 4.51% | 30 |
| Idaho | $ 59,149 | 4.56% | 31 |
| Kansas | $ 59,135 | 4.58% | 32 |
| Alabama | $ 59,105 | 4.62% | 33 |
| South Carolina | $ 59,096 | 4.63% | 34 |
| Virginia | $ 59,086 | 4.65% | 35 |
| Massachusetts | $ 59,060 | 4.69% | 36 |
| West Virginia | $ 59,045 | 4.71% | 37 |
| Washington, D.C. | $ 59,031 | 4.73% | 38 |
| Nebraska | $ 59,017 | 4.75% | 39 |
| Kentucky | $ 59,015 | 4.75% | 39 |
| Maine | $ 59,008 | 4.76% | 41 |
| Illinois | $ 58,992 | 4.78% | 42 |
| Utah | $ 58,982 | 4.80% | 43 |
| Delaware | $ 58,958 | 4.83% | 44 |
| Georgia | $ 58,953 | 4.84% | 45 |
| New York | $ 58,926 | 4.88% | 46 |
| Minnesota | $ 58,864 | 4.97% | 47 |
| Montana | $ 58,744 | 5.14% | 48 |
| Iowa | $ 58,535 | 5.43% | 49 |
| Hawaii | $ 57,587 | 6.79% | 50 |
| Oregon | $ 56,710 | 8.04% | 51 |
