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.
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%).
2024-12-24 20:362256 view
2024-12-24 20:182385 view
2024-12-24 19:37340 view
2024-12-24 18:251229 view
2024-12-24 18:172336 view
2024-12-24 18:162810 view
New York Gov. Kathy Hochul announced a proposal to send checks up to $500 back to taxpayers to addre
Spoiler alert! This story includes important plot points (and the ending) of the “The Penguin” Seaso
Utah athletics director Mark Harlan made a surprise visit at Saturday's postgame press conference an