8 states cut income tax rates on Jan. 1. Is yours one of them?

Core Insights - Eight states in the U.S. have lowered their income tax rates effective January 1, aiming to boost economic growth and attract workers and investments [1][2] Tax Rate Changes - Indiana: Flat rate reduced to 2.95% from 3%, with a future reduction to 2.9% in 2027 and potential further cuts to 2.55% starting in 2030 [4] - Kentucky: Flat rate decreased to 3.5% from 4% [4] - Mississippi: Flat rate lowered to 4% from 4.4%, completing a multi-year phase-down [4] - Montana: Top marginal rate reduced to 5.65% from 5.9%, with a future reduction to 5.4% in 2027 [4] - Nebraska: Top rate decreased to 4.55% from 5.2%, with a goal to reach 3.99% by 2027 [4] - North Carolina: Flat rate cut to 3.99% from 4.25%, finalizing a multi-year reduction plan [4] - Ohio: New flat rate of 2.75% from 3.125% for income above $26,050, with no tax on income below this threshold [4] - Oklahoma: Top rate reduced to 4.5% from 4.75%, consolidating six brackets into three [4]