Where to keep cash, state by state
Treasury bills skip state income tax; CDs and savings accounts don’t. So the best place for cash depends on where you live. Pick your state for the full answer at your numbers.
| State | State income taxtop rate, 2026 | Keeps the most after taxat the top bracket | A CD must payto match a 1-year T-bill |
|---|---|---|---|
| Alabama | State income tax: 5.00% | 1-year Treasury bill | 4.89% |
| Alaska | State income tax: NoneNo | CFG Bank 1-year CD | 4.50% |
| Arizona | State income tax: 2.50% | 1-year Treasury bill | 4.69% |
| Arkansas | State income tax: 3.90% | 1-year Treasury bill | 4.80% |
| California | State income tax: 13.30% | 1-year Treasury bill | 5.70% |
| Colorado | State income tax: 4.40% | 1-year Treasury bill | 4.84% |
| Connecticut | State income tax: 6.99% | 1-year Treasury bill | 5.06% |
| Delaware | State income tax: 6.60% | 1-year Treasury bill | 5.03% |
| District of Columbia | State income tax: 10.75% | 1-year Treasury bill | 5.43% |
| Florida | State income tax: NoneNo | CFG Bank 1-year CD | 4.50% |
| Georgia | State income tax: 5.19% | 1-year Treasury bill | 4.90% |
| Hawaii | State income tax: 11.00% | 1-year Treasury bill | 5.45% |
| Idaho | State income tax: 5.30% | 1-year Treasury bill | 4.91% |
| Illinois | State income tax: 4.95% | 1-year Treasury bill | 4.88% |
| Indiana | State income tax: 2.95% | 1-year Treasury bill | 4.72% |
| Iowa | State income tax: 3.80% | 1-year Treasury bill | 4.79% |
| Kansas | State income tax: 5.58% | 1-year Treasury bill | 4.94% |
| Kentucky | State income tax: 3.50% | 1-year Treasury bill | 4.76% |
| Louisiana | State income tax: 3.00% | 1-year Treasury bill | 4.73% |
| Maine | State income tax: 7.15% | 1-year Treasury bill | 5.08% |
| Maryland | State income tax: 6.50% | 1-year Treasury bill | 5.02% |
| Massachusetts | State income tax: 9.00% | 1-year Treasury bill | 5.25% |
| Michigan | State income tax: 4.25% | 1-year Treasury bill | 4.83% |
| Minnesota | State income tax: 9.85% | 1-year Treasury bill | 5.33% |
| Mississippi | State income tax: 4.00% | 1-year Treasury bill | 4.81% |
| Missouri | State income tax: 4.70% | 1-year Treasury bill | 4.86% |
| Montana | State income tax: 5.65% | 1-year Treasury bill | 4.94% |
| Nebraska | State income tax: 4.55% | 1-year Treasury bill | 4.85% |
| Nevada | State income tax: NoneNo | CFG Bank 1-year CD | 4.50% |
| New Hampshire | State income tax: NoneNo | CFG Bank 1-year CD | 4.50% |
| New Jersey | State income tax: 10.75% | 1-year Treasury bill | 5.43% |
| New Mexico | State income tax: 5.90% | 1-year Treasury bill | 4.96% |
| New York | State income tax: 10.90% | 1-year Treasury bill | 5.44% |
| North Carolina | State income tax: 3.99% | 1-year Treasury bill | 4.80% |
| North Dakota | State income tax: 2.50% | 1-year Treasury bill | 4.69% |
| Ohio | State income tax: 2.75% | 1-year Treasury bill | 4.71% |
| Oklahoma | State income tax: 4.50% | 1-year Treasury bill | 4.85% |
| Oregon | State income tax: 9.90% | 1-year Treasury bill | 5.34% |
| Pennsylvania | State income tax: 3.07% | 1-year Treasury bill | 4.73% |
| Rhode Island | State income tax: 5.99% | 1-year Treasury bill | 4.97% |
| South Carolina | State income tax: 6.00% | 1-year Treasury bill | 4.97% |
| South Dakota | State income tax: NoneNo | CFG Bank 1-year CD | 4.50% |
| Tennessee | State income tax: NoneNo | CFG Bank 1-year CD | 4.50% |
| Texas | State income tax: NoneNo | CFG Bank 1-year CD | 4.50% |
| Utah | State income tax: 4.50% | 1-year Treasury bill | 4.85% |
| Vermont | State income tax: 8.75% | 1-year Treasury bill | 5.23% |
| Virginia | State income tax: 5.75% | 1-year Treasury bill | 4.95% |
| Washington | State income tax: NoneNo | CFG Bank 1-year CD | 4.50% |
| West Virginia | State income tax: 4.82% | 1-year Treasury bill | 4.87% |
| Wisconsin | State income tax: 7.65% | 1-year Treasury bill | 5.12% |
| Wyoming | State income tax: NoneNo | CFG Bank 1-year CD | 4.50% |
At 37% federal and each state’s top rate. “A CD needs” is the rate a fully taxable CD or savings account must pay to keep as much as a 1-year Treasury bill (4.50% today).