![]() ![]() Proponents of a flat tax also tout that the tax saves taxpayers’ money. Potential benefits of a flat tax include greater efficiency, as it eases compliance for both taxpayers and the state. Under a graduated structure, the tax rate varies based on the taxpayer’s income-the more money you earn, the higher rate of taxes you pay. A flat tax applies the same tax rate to all taxpayers, regardless of the taxpayer’s income. Tax rate structures can be characterized in one of two ways-flat or graduated. Franke College of Business, broke it down for The NAU Review. Franke College of Businessĭid you know that in 2023, Arizona waved goodbye to its progressive tax rate structure and adopted a flat tax rate of 2.5 percent? So, what does that mean for you and your 2024 tax filing? Look no further! Landi Morris, assistant professor of accounting in The W. The views expressed reflect the authors’ own personal perspectives.Īssistant professor of accounting, The W. ![]() *Editor’s Note: The “Views from NAU” blog series highlights the thoughts of different people affiliated with NAU, including faculty members sharing opinions or research in their areas of expertise. ![]()
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