Drake Tax – State Does Not Show as an Option for a Bank Product
Article #: 11429
Last Updated: December 05, 2024
The following states do not have individual state income tax:
-
Alaska
-
Florida
-
Nevada
-
New Hampshire*
-
South Dakota
-
Texas*
-
Tennessee*
-
Washington
-
Wyoming
Since there is no state income tax, the above states are not listed under the state product drop list for bank products or under the State/city selection on screen DD.
Note *The PMT screen lists these states even though they do not have individual state income tax. There are state specific forms that may be required if the individual has a business in the state, is subject to franchise taxes, or receives certain interest/dividends. The PMT screen drop list shows the state abbreviation and form name, as applicable, to allow payments to be scheduled for withdrawal.