State Tax Rate Estimation?
When you are planning, what does everyone use to estimate state taxes for your clients?
I would like to automate this and add all of the state tax rules into our planning software, but I don’t want to constantly have to update whenever states change their tax laws. Is there a feed that is consistently updated that I can pay for? Or an API that I could use? Preferably I would like to estimate on tax bracket, standard deductions and personal exemptions at least. I really like what taxfoundation provides, but it’s not a live feed, it’s usually not updated until a month or two after the new taxes are in effect, and not easy to pull into the software either : https://taxfoundation.org/publications/state-individual-income-tax-rates-and-brackets/
Is this something you also struggle with? What is your solution and how granular do you get?
Submitted by Brandon Peters on Fri, 2021-01-22 18:00