However, "the rate is scheduled to phase down by one percentage point per year until the tax is phased out entirely in 2027," explains The Tax Foundation nonprofit.

Source: https://theweek.com/personal-finance/1022681/personal-finance-which-states-have-no-income-tax

Massachusetts had the steepest fall from last year in the nation, dropping 12 spots to 46th for overall taxation in the 2023 State Business Tax Climate Index, a ranking published by the Tax Foundation that compares state tax systems.

Source: https://www.bostonherald.com/2023/10/29/massachusetts-tax-competitiveness-drops-to-fifth-worst-in-the-country-report-finds/

The Tax Foundation reports that a pending proposal means that wealthy New York City residents might soon pay nearly 30% taxes on capital gains income.

Source: https://www.moneytalksnews.com/slideshows/states-that-want-to-tax-the-wealthy-in-2023/