The effective tax rate is the percent of income or pre-tax profits that an individual or a corporation pays in taxes.

That also varies depending on where you live and work. Here's a primer on income tax: what it is, how it works, how to calculate it and which states don't have it.

The Internal Revenue Service has released dozens of inflation adjustments affecting individual income tax brackets, deductions and credits for 2023 and—no surprise—today’s four decade high ...