It costs a lot to be a nanny state
The personal-finance website WalletHub released its 2017 Tax Burden by State report.
New Yorkers will be happy to know they pay their fair share – and some of everyone else’s share too.
|States with Highest Tax Burdens (%)||States with Lowest Tax Burdens (%)|
|1||New York (12.94%)||41||Montana (7.51%)|
|2||Hawaii (11.27%)||42||Wyoming (7.29%)|
|3||Vermont (10.75%)||43||Alabama (7.19%)|
|4||Maine (10.73%)||44||South Dakota (7.12%)|
|5||Minnesota (10.24%)||45||Florida (6.79%)|
|6||Connecticut (10.23%)||46||New Hampshire (6.70%)|
|7||New Jersey (10.14%)||47||Oklahoma (6.61%)|
|8||Rhode Island (10.09%)||48||Tennessee (6.45%)|
|9||Illinois (10.00%)||49||Alaska (6.27%)|
|10||California (9.52%)||50||Delaware (5.59%)|
- Red states have a lower overall tax burden, with an average rank of 30.27, than Blue states, which have an average rank of 18.30 (lower rank = higher tax burden).
- New Hampshire has the highest property tax as a share of personal income, 5.33 percent, which is 3.9 times higher than in Oklahoma, the state with the lowest at 1.38 percent.
- New York has the highest individual income taxes as a share of personal income, 4.76 percent, whereas Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not levy such a tax on their residents.
- Hawaii has the highest total sales and excise tax as a share of personal income, 6.52 percent, which is 5.7 times higher than in Oregon, the state with the lowest at 1.14 percent.
To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/ states-with-highest-lowest- tax-burden/20494/
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