State Tax Tips

States we service (All 50) and a quick tax tip for each to save tax:

Alabama

Offers a deduction for contributions to the Alabama Prepaid Affordable College Tuition (PACT) program, aiding in future education expenses.

Alaska

Residents receive an annual Permanent Fund Dividend, which, while taxable federally, is not taxed by the state.

Arizona

Provides a credit for donations to certified school tuition organizations, supporting private education.

Arkansas

Allows a deduction for contributions to the Arkansas 529 College Savings Plan, promoting education savings.

California

Offers the California Earned Income Tax Credit (CalEITC) and the Young Child Tax Credit for qualifying low-income workers.

Colorado

Provides a refundable Earned Income Tax Credit at 50% of the federal EITC, benefiting low-income earners.

Connecticut

Offers a refundable Earned Income Tax Credit at 40% of the federal EITC, supporting working families.

Delaware

Allows a deduction for contributions to Delaware College Investment Plan (529 plan), encouraging education savings.

Florida

No state income tax, but residents can benefit from the Homestead Exemption, reducing property tax liability.

Georgia

Provides a credit for donations to student scholarship organizations, supporting private school tuition.

Hawaii

Offers a refundable Earned Income Tax Credit at 40% of the federal EITC, aiding low-income workers.

Idaho

Allows a deduction for charitable contributions exceeding $500, encouraging philanthropy.

Illinois

Provides a credit for property taxes paid on a principal residence, offering relief to homeowners.

Indiana

Offers a credit for contributions to Indiana CollegeChoice 529 Savings Plans, promoting education funding.

Iowa

Provides a deduction for contributions to the Iowa 529 College Savings Plan, aiding in future education costs.

Kansas

Allows a deduction for contributions to the Kansas Learning Quest 529 Education Savings Program.

Kentucky

Offers a deduction for contributions to Kentucky’s 529 college savings plan, supporting education expenses.

Louisiana

Provides a deduction for contributions to the Louisiana START Saving Program, encouraging college savings.

Maine

Offers a refundable Earned Income Tax Credit at 25% of the federal EITC, with enhancements for filers without qualifying children.

Maryland

Provides a credit for contributions to Maryland College Investment Plan (529 plan), promoting education savings.

Massachusetts

Offers a deduction for contributions to the Massachusetts 529 College Savings Plan, aiding in future education costs.

Michigan

Allows a deduction for contributions to the Michigan Education Savings Program (529 plan), encouraging college savings.

Minnesota

Provides a refundable Child Tax Credit of up to $1,750 per qualifying child, with no limit on the number of children claimed (Kiplinger).

Mississippi

Offers a deduction for contributions to the Mississippi Affordable College Savings (MACS) program.

Missouri

Allows a deduction for contributions to the Missouri MOST 529 College Savings Plan, supporting education funding.

Montana

Provides a deduction for contributions to the Montana Family Education Savings Program (529 plan).

Nebraska

Offers a deduction for contributions to the Nebraska Educational Savings Plan Trust (NEST 529).

Nevada

No state income tax, but residents can benefit from the Nevada College Kick Start Program, providing initial college savings.

New Hampshire

No state income tax, but offers property tax relief for low-income seniors through the Low and Moderate Income Homeowners Property Tax Relief program.

New Jersey

Provides a Child Tax Credit of up to $500 per qualifying child under age 6 for households with income up to $80,000.

New Mexico

Offers a Child Income Tax Credit of up to $600 per qualifying dependent, depending on income.

New York

Provides the Empire State Child Credit, offering at least $100 per qualifying child, with higher amounts for those who claimed the federal credit.

North Carolina

Offers a child deduction of at least $500 per child under age 17, depending on income and filing status.

North Dakota

Allows a deduction for contributions to the College SAVE 529 Plan, promoting education savings.

Ohio

Provides a deduction for contributions to the Ohio CollegeAdvantage 529 Savings Plan.

Oklahoma

Offers a credit equal to 5% of the federal Child Tax Credit for qualifying taxpayers.

Oregon

Provides a refundable Child Tax Credit of $1,000 per qualifying child under age 5 for families earning less than $30,000.

Pennsylvania

Allows a deduction for contributions to the Pennsylvania 529 College Savings Program.

Rhode Island

Offers a credit for contributions to the CollegeBound Saver 529 plan, encouraging education funding.

South Carolina

Provides a deduction for contributions to the Future Scholar 529 College Savings Plan.

South Dakota

No state income tax, but residents can benefit from property tax relief programs for seniors and disabled individuals.

Tennessee

No state income tax, but offers the Hall Income Tax Credit for seniors and disabled taxpayers with low income.

Texas

No state income tax, but residents can benefit from property tax exemptions for seniors, disabled individuals, and veterans.

Utah

Provides a nonrefundable credit for contributions to the Utah Educational Savings Plan (529 plan).

Vermont

Offers a credit for contributions to the Vermont Higher Education Investment Plan (529 plan).

Virginia

Allows a deduction for contributions to the Virginia529 college savings plan, supporting education expenses.

Washington

No state income tax, but residents can benefit from the Working Families Tax Credit, a refundable credit for low-to-moderate-income workers.

West Virginia

Provides a deduction for contributions to the SMART529 College Savings Plan.

Wisconsin

Offers a subtraction for contributions to the Edvest or Tomorrow’s Scholar 529 college savings plans.

Wyoming

No state income tax, but residents can benefit from property tax relief programs for seniors and disabled individuals.

Contact Us

Please contact the below with any questions or requests for more information.

AllTax LLC

7400 Metro Blvd. Ste 419,
Minneapolis, MN 55439

Email sales@alltax.pro

Office:  800.202.8902
Fax:     612.524.5491

If You Need Help, Book a Consultation

Brian J. Markwell, CPA​
Shareholder
AllTax LLC

 

bmarkwell@alltax.pro

(o) 800.202.8902
(c) 612.807.1477
(f) 612.524.5491

Brian J. Markwell, CPA, Shareholder

Brian brings to the table over 25 years of public accounting experience specializing in manufacturing, distribution, construction, service, real estate, software, and overall business and personal taxation. Brian’s experience ranges from one person to multi-tier organizations residing in numerous industries, countries, and publicly traded markets (international and domestic). Client revenues range from startup to $350M in annual sales. He represents individual clients with net worth amounts in excess of $100M+ and the intricate structures inherent in each and every tax portfolio.

The ability to think outside of the box and maintain technical expertise is fundamental in being a valued financial advisor. With Brian’s experience and exceptional client service skills, you will soon come to realize the impact he is able to make for your specific situation.

SPECIFIC EXPERIENCE

• Individual, business, trust, and multi-state taxation (domestic and foreign)

• Tax credits and optimization including bitcoin and electronic currency trading

• Real estate structures and filings including REIT’s, TIC’s and Opportunity Zones

• Complex ownership structures and formation for owners (FLP, Trust, etc.)

• Contract CFO for companies from startup to $350M in consolidated sales

• Executive and employee benefit consulting, including payroll structure and compliance for several small to large businesses

• Phantom stock ownership plans, ESOP’s & executive compensation

• Employee benefitimplementation and administration for large companies

• Private equity relations, reporting, and adherence

• Managed an initial public offering (IPO) on NYSE and S-1 registration

• Compilations, reviews, and audits of private and SEC regulated companies

• Agreed upon procedure engagements & working with lending requirements

• Financial and change management implementation for internal control

• Lease, debt and other legal structuring and analysis

• Succession and estate planning

• IRS & State audits and appeals

• Liquidations, bankruptcies and reorganizations

• Financial policy solution implementation for purchased companies

• Nonprofit accounting and taxation including large 501(c)(3) org’s

INDUSTRY INVOLVEMENT

• AICPA – American Institute of Certified Public Accountants

• MNCPA – Minnesota Society of Certified Public Accountants

EDUCATION

• B.B.A. University of Wisconsin – Eau Claire Magna Cum Laude – Accounting