States with low or no taxes attract new residents every year, often from states with higher tax rates. But just how much are those living in states with high taxes paying?
With the season for 2023 taxes upon us, FinanceBuzztook a look at rates across the country and determined just how much of their income in the past year people can expect to pay in taxes. The numbers were compiled using census data and federal and state tax rates to calculate tax rates on median-income households for both individuals and married couples.
At the top of the list for individuals is Massachusetts, where residents can expect to pay an average of 23.67 percent in taxes this year. Oregon, Connecticut, Maryland, and New York round out the top five. And while one would expect states like California to crack the top 10, the Golden State's tax rates weren't that bad by comparison; meanwhile, states like Utah and Minnesota stood in the top 10 with roughly 21 percent of income paid in taxes.
Massachusetts (23.67%)
Oregon (23.37%)
Connecticut (23.19%)
Maryland (22.58%)
New York (21.97%)
Virginia (21.80%)
New Jersey (21.71%)
Minnesota (21.51%)
Illinois (21.32%)
Utah (20.90%)
The states with the lowest tax rates, meanwhile, are often located in less-populated parts of the country. Florida ranked as the lowest possible individual tax rate with 15.75 percent of income going to taxes. It's joined by sparsely populated states like Wyoming, North Dakota, South Dakota, and Alaska.
Read up on the states with the 10 lowest tax rates.
Florida (15.75%)
Tennessee (15.77%)
Nevada (15.78%) [tie]
South Dakota (15.78%) [tie]
Texas (15.99%)
Wyoming (16.02%)
North Dakota (16.07%)
Alaska (17.02%)
New Hampshire (17.40%)
Arizona (17.84%)
Of course, these only look at income tax rates. Some states with low or no income taxes derive revenue from things like property taxes and sales taxes instead.
This underwater city builder had me more emotionally invested in my corals than SimCity does in my human citizens, and you can try it at the next Steam Next Fest
The Kingmakers system requirements show that the hardest part of running the game may be finding 80 GB free for the install
Civilization 7's senior historian once deleted Civ 6's massive Civilopedia, replacing every entry with a single warmongering emperor: 'The entire folder just went, and I looked, and it was just my one little entry'
Самый милый и жестокий шутер-рогалик AK-xolotl перенесли на Android
Жаркое, дождливое и опасное: какое лето ждет россиян
Архангельские гребцы завоевали две медали на первенстве России в Краснодаре
Заместитель прокурора Архангельской области и Ненецкого автономного округа Павел Матанцев провел личный прием работников ГУП НАО «Нарьян-Марская электростанция»
Арктика с женским лицом: Архангельск готовится к масштабному форуму лидеров и идей
Спецпроект АПЗ победил в конкурсе корпоративных медиа
СЛЕДЫ НЕЙРО ИИ: СЕНСАЦИЯ В ДЕЛЕ ГРУППЫ ДЯТЛОВА: США И СССР ПОДГОТОВИЛИ СНОС...США. ОГРОМНЫЙ ПОЛИТИЧЕСКИЙ СКАНДАЛ. Новости! Россия, США, Европа могут улучшить отношения и здоровье общества?!
Монорельсу быть? Власти Ростовской области снова вспомнили о забытой идее
Авиабилеты на Дальний Восток по "плоским" тарифам увеличили