Current:Home > Contact-usThese are the states with the highest and lowest tax burdens, a report says-Angel Dreamer Wealth Society D1 Reviews & Insights
These are the states with the highest and lowest tax burdens, a report says
View Date:2024-12-23 20:09:54
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! (247)
Related
- Detroit-area police win appeal over liability in death of woman in custody
- Yankees roast Little League coach who complained about Aaron Judge
- Steph Curry says Kamala Harris can bring unity back to country as president
- Coldplay perform Taylor Swift song in Vienna after thwarted terrorist plot
- Vogue Model Dynus Saxon Charged With Murder After Stabbing Attack
- Disney x Kate Spade’s Snow White Collection Is the Fairest of Them All & Everything Is an Extra 40% Off
- US Open storylines: Carlos Alcaraz, Coco Gauff, Olympics letdown, doping controversy
- Is Joey Votto a Hall of Famer? The case for, and against, retiring Reds star
- Armie Hammer Says His Mom Gifted Him a Vasectomy for His 38th Birthday
- Canada’s largest railroads have come to a full stop. Here’s what you need to know
Ranking
- Volkswagen, Mazda, Honda, BMW, Porsche among 304k vehicles recalled: Check car recalls here
- Who's performed at the DNC? Lil Jon, Patti LaBelle, Stevie Wonder, more hit the stage
- The Daily Money: A weaker job market?
- New Federal Report Details More of 2023’s Extreme Climate Conditions
- Let Demi Moore’s Iconic Fashion Give You More Inspiration
- Former New Hampshire lawmaker loses right to vote after moving out of his district
- Tropical storm forecast to bring strong winds and heavy rain to Hawaii this weekend
- Man caught on video stealing lemonade-stand money from Virginia 10-year-old siblings
Recommendation
-
AIT Community Introduce
-
'Believe that': The Arizona Diamondbacks may be the best team in baseball
-
How Teen Mom's Cory Wharton and Cheyenne Floyd Reacted When Daughter Ryder, 7, Was Called the N-Word
-
How fast will interest rates fall? Fed Chair Powell may provide clues in high-profile speech
-
Younghoo Koo takes blame for Falcons loss to Saints: 'This game is fully on me'
-
Injured Montana man survives on creek water for 5 days after motorcycle crash on mountain road
-
These men went back to prison to make a movie. But this time, 'I can walk out whenever.'
-
How fast will interest rates fall? Fed Chair Powell may provide clues in high-profile speech