Vermont Tax Overview
Vermont taxes most retirement income and some Social Security benefits for single residents with income over $45,000, and married couples filing jointly with income over$60,000. Property taxes in Vermont are also significant.
Items such as soft drinks are subject to taxation, and there is a 6% state sales tax, with an additional 1% in some cities. Vermont also imposes an estate tax. However, many essential items are not subject to sales tax in the state.
New Mexico Tax Benefits
In contrast, food is exempt from taxation in New Mexico. Additionally, the state provides a range of benefits for veterans, which includes property tax exemptions, educational scholarships, and reduced-fee hunting and fishing licenses.
Tax Exemptions Across the States
While most states do not tax necessities like groceries, medicines, medical devices, or industrial equipment, sales tax does apply to toilet paper in many states. However, states such as Alaska, Delaware, Montana, New Hampshire, New Jersey, Oregon, and Pennsylvania exempt toilet paper from sales tax. In New Jersey, other household items, including paper towels and toilet tissue, are exempt. Tax exemptions also apply to condoms and Viagra in some places, whereas tampons and pads may be taxed.