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24/7 Wall Street released the report reviewing the “total tax burden as a share of income on a per capita basis” to identify the states with the lowest and highest tax burden. Federal taxes were not included in the calculations.
The study found that New York led the way as the highest taxed state in the country, with 12.7 percent of income going toward taxes. Connecticut was just being at 12.6 percent. The study’s methodology can be found here.
Details from the report include:
New York (highest):
- Taxes paid as percentage of income: 12.7 percent;
- Income per capita: $64,540 (3rd highest);
- Income tax collections per capita: $2,345 (the highest);
- Property tax collections per capita: $2,697 (4th highest);
- General sales tax collections per capita: $682 (15th lowest).
Connecticut (second highest):
- Taxes paid as percentage of income: 12.6 percent;
- Income per capita: $71,823 (the highest);
- Income tax collections per capita: $2,106 (3rd highest);
- Property tax collections per capita: $2,847 (3rd highest);
- General sales tax collections per capita: $1,046 (15th highest).
The complete report from 24/7 Wall St. can be found here.
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