Current:Home > InvestThese are the states with the highest and lowest tax burdens, a report says-VaTradeCoin
These are the states with the highest and lowest tax burdens, a report says
View Date:2025-01-09 11:25:06
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! (61)
Related
- Steelers shoot for the moon ball, but will offense hold up or wilt in brutal final stretch?
- The Daily Money: What is $1,000 a month worth?
- Winter Olympians will compete at these 13 venues when the Games return to Salt Lake City in 2034
- Authorities identify victims of fatal plane crash near the site of an air show in Wisconsin
- Black and Latino families displaced from Palm Springs neighborhood reach $27M tentative settlement
- Winter Olympics are officially heading back to Salt Lake City in 2034. Everything to know
- Lawyer for Idaho murders suspect Bryan Kohberger wants trial moved to Boise, citing inflammatory coverage
- Shipwreck hunters find schooner 131 years after it sank in Lake Michigan with captain's faithful dog
- U.S.-Mexico water agreement might bring relief to parched South Texas
- Litter of dead puppies found on Pennsylvania golf course prompts criminal investigation
Ranking
- Ashton Jeanty stats: How many rushing yards did Boise State Heisman hopeful have vs Nevada
- SpongeBob SquarePants is autistic, according to voice actor Tom Kenny: 'That's his superpower'
- When do new episodes of 'Too Hot To Handle' come out? Season 6 release schedule, times, cast
- 3 North Carolina tree workers shot and suspect injured during arrest by deputies, officials say
- Miami Marlins hiring Los Angeles Dodgers first base coach Clayton McCullough as manager
- Boston Red Sox sign manager Alex Cora to three-year extension
- All the revelations from 'Dirty Pop,' Netflix's new Lou Pearlman documentary
- Woman dies in West Virginia’s second reported coal mining fatality of 2024
Recommendation
-
Certifying this year’s presidential results begins quietly, in contrast to the 2020 election
-
Sextortion scams run by Nigerian criminals are targeting American men, Meta says
-
Idaho crash leaves 2 injured on final day of 'No Speed limit' driving event
-
Falsehoods about Kamala Harris' citizenship status, racial identity resurface online as she becomes likely Democratic nominee
-
Wicked's Ethan Slater Shares How Ariana Grande and Cynthia Erivo Set the Tone on Set
-
Lauren Alaina cancels 3 shows following dad's death: 'I really have no words'
-
Mixed results in 2024 standardized tests for Louisiana students
-
SpongeBob SquarePants is autistic, according to voice actor Tom Kenny: 'That's his superpower'