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Which State Has the Highest Tax Burden?

Taxes are a necessary evil and an essential part of any functioning state. Taxes provide state and federal governments to fund various public services. In the US the amount of taxes you pay depends on many factors. Depending on where you live, how much money you make, what you own and how many dependents you have will change the amount of taxes you owe each year. Some states have higher tax rates than others, which impacts the cost of living and doing business in those states.

Which State Has the Highest Tax Burden? #Infographic

Key Tax Deadlines for Businesses and Individuals in the US

As the tax season approaches, businesses and individuals need to be aware of the upcoming tax deadlines to avoid penalties and interest charges. From January to October, there are several important dates to keep in mind. January 31st marks the deadline for issuing payment information to employees and independent contractors, including Form 1099-NEC, 1099-MISC, 1099-K, W-2, and W-3.

Key Tax Deadlines for Businesses and Individuals in the US #Infographic

Tax Day 2021: America’s Biggest Procrastinators

For many American’s waiting to do file your taxes at the last minute is an annual right of passage. There are more taxes filed in the last week in the deadline each year than any other time during the year according to data from IRS. With the filing deadline being moved from April 15th to May 17th this year, even more Americans are poised to delay filing their taxes again this year. 

Tax Day 2021: America’s Biggest Procrastinators #Infographic

Countries responsible for the largest global tax losses

Every year, the world faces extreme annual tax losses because of the tax abuse by some territories. The infographic below identifies the countries that are responsible for the largest tax losses, among which the top country responsible for it is the Cayman Islands. According to the latest State of Tax Justice 2020 report, the average loss of annual global tax by the Cayman Islands is $70.4 billion, accounting for 16.5% of the world’s total tax abuse.

Countries responsible for the largest global tax losses #infographic



After Facebook launched Paid Online Events earlier this year, the company stated that it would not charge any fees on purchases for the events initially. As part of the policy, Facebook also requested Apple to reduce its 30% App Store tax, which Apple refused to do, hence resulting in businesses being paid only 70% of their earned revenue. Facebook also gave Apple another option, which was to let it offer Facebook Pay, so that the company could cover the costs for businesses struggling due to the coronavirus pandemic. Apple denied this request too. Now, Apple seems to be getting less strict with its policy as it is allowing Facebook to process payments via Facebook Pay. 


Apple's compliance with the request is apparently for the short term only, but at least for now, people running their businesses can earn their full profit and Apple won't be charging its 30% cut.

Apple Finally Waives its 30% Tax Fees for Facebook Events

The UK plans to drop a tax on tech companies

A mail from Sunday newspaper reported that the finance minister of the UK, Rishi Sunak, decides to drop tax on various technology companies including, Facebook and Google. This is mainly because these big techs are not helping enough in raising money for the trade deal made with the USA.

In April, negotiations were being made globally on how to charge tax from tech giants, most of which included US-based companies. As a solution to it, Britain released a digital service tax to enhance the progress of negotiations.

The UK plans to drop a tax on tech companies


Mark Zuckerberg, the founder of Facebook, just observed a rise in his personal wealth, which is now worth $100 billion, after Facebook launched a new feature of Reels on Instagram this Wednesday. Reels is a short-form video feature that is potentially a rival to TikTok. 

Facebook shares experienced an increase by more than 6% on Thursday and Zuckerberg holds a 13% stake in the company. Zuckerberg is part of the so-called ''Centibillionaire Club'' whose members include Jeff Bezos and Bill Gates, founders of Amazon and Microsoft, respectively. Founders of big tech companies have recently stolen the spotlight as the size and power of their companies continue to grow along with their personal fortunes. 

Especially ever since the coronavirus lockdowns have been imposed, companies like Facebook, Amazon, Apple, and Google have been the biggest benefactors as more people started to shop online and turned to online entertainment and socialization. According to Bloomberg, Zuckerberg's personal wealth has gained about $22 billion this year and Bezos' has risen by more than $75 billion. 

Zuckerberg's Rise in Personal Wealth after Launch of TikTok Rival 'Reels'

The Cities and States With the Biggest Tax Procrastinators

As Tax Day nears this year, many people loathe filing their taxes. Even with the tax filing deadline extended, many Americans will put off filing their taxes until the very last minutes.

A new study by IPX 1031 took a look at the subject of tax procrastinators. In the study, they examined the biggest tax procrastinators both on the state level and on the city level. They also examined when Americans filed their taxes in 2019 by analyzing IRS data to specifically see the most popular weeks for tax filing. This data was also supplemented by a survey of 1,000 Americas about Tax Day. In the survey, they asked respondents to identify when Tax Day was, asked about expected tax refund amounts and how people plan on using their refund check. Let’s examine the major takeaways of the study from IPX 1031.

The Biggest Tax Procrastinators by State

Using Google search trends data from the 2019 tax filing season, IPX 1031 was able to see which states were searching for common tax-related questions and keywords the most. Listed below is the full list of the biggest tax procrastinators by state. Searches related to tax filing deadline were done on a per capita basis per every 100,000 residents.

California (443)
Nevada (413)
Texas (392)
Colorado (385)
Oregon (375)
Washington (366)
Hawaii (361)
Georgia (355)
Arizona (336)
Maryland (333)
Florida (323)
Massachusetts (320)
New York (319)
Virginia (310)
North Carolina (306)
Arkansas (302)
Illinois (291)
Tennessee (288)
Utah (283)
New Mexico (276)
New Jersey (274)
Louisiana (273)
Delaware (270)
Rhode Island (270)
Connecticut (265)
South Carolina (263)
Alabama (263)
Minnesota (261)
Oklahoma (251)
Vermont (249)
New Hampshire (240)
Idaho (235)
Kentucky (233)
Montana (231)
Kansas (228)
Maine (226)
Ohio (223)
Arizona (221)
North Dakota (221)
Indiana (220)
Wyoming (220)
Missouri (218)
Pennsylvania (213)
Wisconsin (212)
Michigan (210)
Nebraska (206)
Mississippi (204)
West Virginia (189)
Iowa (175)
South Dakota (175)


Biggest Tax Procrastinators by City

The second part of the analysis was similar to the one above but instead examined the 30 largest cities in the U.S. to see which big city has the most tax filing procrastinators.

Las Vegas (1,108)
Denver (1,058)
Seattle (988)
San Francisco (911)
Washington D.C. (901)
Portland (863)
Austin (846)
Baltimore (763)
Dallas (752)
Houston (726)
Boston (698)
Nashville (684)
Los Angeles (679)
San Diego (678)
San Jose (661)
Charlotte (618)
Chicago (593)
Fort Worth (516)
Oklahoma City (485)
Philadelphia (449)
Louisville (448)
New York City (446)
Phoenix (440)
El Paso (428)
Jacksonville (419)
Memphis (418)
Indianapolis (413)
Detroit (410)
Columbus (410)
San Antonio (403)


When Americans File Their Taxes the Most

The next part of the analysis examined the most popular weeks that you can file. This data was sourced directly from the IRS. This may not be surprising, but the most popular week to file your taxes without an extension is the very last week before Tax Day. The second most popular week is a bit more surprising. The first week of tax filing season is actually the second most popular week to file your taxes. After the first week, the amount of tax returns filed slowly decline until around the week of March 15th in which there is a steady climb in the amount of tax returns filed peaking the week of May 15th.


When is Tax Day?

The next part of the study from IPX 1031 surveyed over 1,000 Americans to learn more about their tax-filing habits. Shockingly enough, 23% of all surveyed respondents were not able to identify May 15th as Tax Day in America.

The survey also asked about the expected tax refund amount that Americans expect to receive this year. Listed below is the generational breakdown of expected tax refund amount:

Gen Z - $1,338

Millennials - $2,476

Gen X - $1,433

Baby Boomers - $946

Average of all responses - $1,982


How Americans Plan to Use Their Refund

Listed below is a breakdown of how Americans said they plan to use their tax refund this year:

Paying off debt – 39%

Saving it – 31%

Investing it – 14%

Planning a vacation – 8%

Making a major life purchase - 4%

Other -4%

The survey also asked about owing money to the IRS and filing a tax extension. Only 30% of surveyed respondents said they were worried about owing money to the IRS this year. With that, only 24% of surveyed respondents said they have filed for a tax extension. 29% of respondents said they have turned to a tax professional because filing online was too complicated for them.

The full results from the study on American’s biggest tax procrastinators can be seen in the graphics below. The methodology for the study was a mix of Google search trends data, data directly from the IRS and a survey of over 1,000 Americans that was performed in February of this year. The study also features two interactive maps where you can see the search volume for each state and city that was analyzed.

The Cities and States With the Biggest Tax Procrastinators #infographic

Corporate Tax By Country Around the World

It’s that time of year when taxes are on everyone’s minds. Individuals and businesses alike have to report their income to the Internal Revenue Service, but tax rates for everyday people are much different than the tax rates for corporations. In 2017, the Tax Cuts and Jobs Act reduced the corporate tax rate in the United States to a flat 21%.

Did you know that there are several countries in the world where corporations don’t have to pay any taxes at all? Islands like Bermuda, the Cayman Islands, Anguilla, and the Bahamas are all completely corporate-tax-free places, making them tax havens for major companies. Many of these locations are also income tax-free!

This infographic from TitleMax.com features a breakdown of the corporate tax rates around the world. Whether you’re starting your own business or just curious as to where corporations pay the most taxes, see how corporate tax rates compare around the world!

Corporate Tax By Country Around the World #infographic

Death & Taxes: Why Tax Preparation Has Great Job Security

As the employment rate is drowning, the U.S. might undergo another recession as early as 2021. Are you prepared to sink or swim? In May 2019, the United States saw a 52,000 decrease in manufacturing jobs and a 43,000 decrease in employment within small businesses. As a result, nearly half of Americans want more job security.

During a recession, new graduates have fewer job opportunities and are less likely to be promoted; however, a recession hurts all workers. In fact many workers still feel the effects of a recession after four years.

Choosing the right career can help you stay afloat in any economical status. This infographic outlines how you can recession-proof yourself, and your career, as the economy inches toward vulnerability. In the words of Benjamin Franklin, “In this world, nothing is certain except death and taxes.” Are you prepared if there’s another recession?

Death & Taxes: Why Tax Preparation Has Great Job Security #infographic

Biggest Tax Evasion Cases in American History

Everyone has to pay taxes. Whether you’re a famous person in politics, music industry or you’re a favorite celebrity, a business tycoon, and a professional sports player; you can’t escape your due taxes. Omitting zeroes, not filing tax returns or you merely neglect your duty, as an American citizen will lead you to a dark secluded area known as prison. In this article, you will learn the top 8 famous tax evasion cases in IRS History, and we hope it will serve as a reminder to pay your due taxes on time!

Biggest Tax Evasion Cases in American History #infographic

Tax Biggest Tax Dodgers in History

Everyone has to pay taxes. Whether you’re a famous person in politics, music industry or you’re a favorite celebrity, a business tycoon, and a professional sports player; you can’t escape your due taxes. Omitting zeroes, not filing tax returns or you merely neglect your duty, as an American citizen will lead you to a dark secluded area known as prison. In this article, you will learn the top 8 famous tax evasion cases in IRS History, and we hope it will serve as a reminder to pay your due taxes on time!

Tax Biggest Tax Dodgers in History #infographic

The Craziest Tax Deductions That Worked

We all like to seek whatever deductions we can when filing our tax returns, but as this infographic shows, people can really push the boat out with some claims…and yet, in the cases mentioned below, the deductions all worked!

The Craziest Tax Deductions That Worked #infographic

What You Should Know About BITCOIN AND TAXES

The usage of Bitcoin has become widespread over the last couple of years, although many users of the cryptocurrency remain uncertain of their tax obligations regarding its usage. If you make a profit from using Bitcoin, you are obligated to pay tax on this profit, even if you don’t intend to retain it.

However, there is a set threshold under which you may be exempt from tax on Bitcoin (in Ireland, it’s €1,270 a year). From specifying Bitcoin tax obligations to what can be deducted and what must be disclosed, this infographic helps to provide a useful starting point on the subject.

What You Should Know About BITCOIN AND TAXES #infographic

Bitcoin And Taxation
Having seen its value surge to an all-time high in 2017, Bitcoin investment is expected to become even more widespread in the months ahead. This infographic looks at the tax obligations and recommendations when it comes to using the cryptocurrency.

Bitcoin And Taxation #Infographic

5 Steps for Manageable Tax Prep
If there's one thing all entrepreneurs can agree on, it's that they dread tax season. Not only are taxes time-consuming, confusing, and a nusiance, but they can also be a drain on your wallet if you don't prepare well. Whether you choose to do taxes on your own or hire an accountant this year, here are five steps to knock tax season out of the park.

5 Steps for Manageable Tax Prep #Infographic

Which State Has The Best Taxes For Small Businesses?
Taxes are a pain for all of us, but they can be especially difficult for small businesses. Besides the process of filing them and keeping organized records, the amount of taxes that small businesses have to pay is sometimes prohibitive to their growth. When someone is thinking about opening a small business, therefore, one of the first things that they might look at is how burdensome the taxes in their state might be. If a nearby state has a better tax system, it may be more advantageous for a prospective business owner to open shop there instead of their home state.

This infographic will show you which states have the best tax systems for small businesses, as well as which states have the lowest and highest personal income tax rates. The latter is important for small businesses as well - 94% of businesses in the United States file as individuals. If you're a small business owner or just a curious investor, this infographic has a lot to teach you!

Which State Has The Best Taxes For Small Businesses? #Infographic

Cooking VS. Dining Out
According to Mary Bouchard, Vice President and thought leader at Harris Interactive, "Now, with several years of experience with constrained budgets, consumers have shifted even further from the busy-lifestyle convenience of eating out on a regular basis to making time for cooking at home. When they do eat out, not surprisingly, price is still a primary component of their decision-making process." Today, 7 in 10 Americans (71 percent) find themselves saving money by cooking at home instead of going out.

Cooking VS. Dining Out #Infographic

Tax Deduction Ahoy!
Section 179 tax deduction infographic from direct lender Balboa Capital. This infographic has helpful information about Section 179, including the current deduction limit and bonus depreciation amount. This Section 179 infographic is free to download and share.

Tax Deduction Ahoy! #Infographic

How Health Helps You Save Tax
The objective of health insurance is to provide financial protection to you during a sudden or unexpected health crisis. Covering health emergencies should be your top priority. Buying health insurance not only protects you financially but also offers tax benefits. It’s always good to know the tax benefits you have; here’s how you can use them to plan your finances:

How Health Helps You Save Tax #Infographic

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