Current:Home > BackThese are the states with the highest and lowest tax burdens, a report says-LoTradeCoin
These are the states with the highest and lowest tax burdens, a report says
View Date:2024-12-24 04:14:12
This year's federal tax filing deadline of April 18 is quickly approaching, and Americans generally pay some mixture of federal, local, and in most cases, state taxes. But the tax burden of some states significantly outpaces others, data shows.
WalletHub, a personal finance website, released a report this week analyzing total tax burden by state. Tax burden is defined as the proportion of a person's income that goes toward taxes.
It measured a combination of the proportion of property tax, income tax and sales tax that people paid. These were the states with the highest and lowest tax burdens.
Highest tax burdens
- New York - 12.47%
- Hawaii - 12.31%
- Maine - 11.14%
- Vermont - 10.28%
- Connecticut - 9.83%
- New Jersey - 9.76%
- Maryland - 9.44%
- Minnesota - 9.41%
- Illinois - 9.38%
- Iowa - 9.15%
Lowest tax burdens
- Alaska - 5.06%
- Delaware - 6.12%
- New Hampshire - 6.14%
- Tennessee - 6.22%
- Florida - 6.33%
- Wyoming - 6.42%
- South Dakota - 6.69%
- Montana - 6.93%
- Missouri - 7.11%
- Oklahoma - 7.12%
When broken down by category, the states with the highest burden for property tax were Maine (5.33%), Vermont (4.98%) and New Hampshire (4.94%), while the lowest were Alabama (1.39%), Tennessee (1.66%) and Arkansas (1.68%).
The states with the highest burden for income tax are New York (4.72%), Maryland (4.21%) and Oregon (3.62%). There are nine states with no income tax – Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming, One of those states, however — New Hampshire — does tax dividends and interest.
The states with the highest sales tax burden are Hawaii (6.71%), Washington, (5.66%) and New Mexico (5.62%), while the states with the lowest sales tax burden are New Hampshire (1.07%), Delaware (1.09%) and Oregon (1.11%).
veryGood! (16459)
Related
- Eminem, Alanis Morissette, Sheryl Crow, N.W.A. and Janet Jackson get Songwriters Hall of Fame nods
- Wisconsin judge rejects attempt to revive recall targeting top GOP lawmaker
- Another political party in North Carolina OK’d for fall; 2 others remain in limbo
- Russia issues arrest warrant for Yulia Navalnaya, widow of Alexey Navalny
- Messi breaks silence on Inter Miami's playoff exit. What's next for his time in the US?
- White Lotus’ Alexandra Daddario Is Pregnant, Expecting Baby After Suffering Loss
- No fooling: FanDuel fined for taking bets on April Fool’s Day on events that happened a week before
- Pennsylvania is getting a new license plate that features the Liberty Bell
- When does Spirit Christmas open? What to know about Spirit Halloween’s new holiday venture
- Stock market today: Asian shares are mixed as Japan’s Nikkei 225 hits a new high, with eyes on Fed
Ranking
- Hurricane forecasters on alert: November storm could head for Florida
- Taylor Swift sings two break-up anthems in Zürich, and see why she wishes fans a happy July 9
- MS-13 leader pleads guilty in case involving 8 murders, including deaths of 2 girls on Long Island
- Save Big on the Cutest Kate Spade Bags You'll Wear Every Day, Including $71 Crossbodies in so Many Colors
- Why California takes weeks to count votes, while states like Florida are faster
- Welfare check reveals forced labor ring at Texas home; 4 people charged
- Texas man died while hiking Grand Canyon, at least fourth at National Park in 2024
- John Corbett regrets becoming an actor, says it's 'unfulfilling' and 'boring'
Recommendation
-
Reds honor Pete Rose with a 14-hour visitation at Great American Ball Park
-
More details released in autopsy for gunman who shot and killed four officers in Charlotte
-
Gypsy Rose Blanchard announces she's pregnant: I want to be everything my mother wasn't
-
Kevin, Frankie Jonas on their childhood, 'Claim to Fame' Season 3
-
FSU football fires offensive, defensive coordinators, wide receivers coach
-
Minnesota trooper accused of driving 135 mph before crash that killed teen
-
Republican primary for Utah US House seat narrows into recount territory
-
European Union adds porn site XXNX to list of online platforms facing strictest digital scrutiny