Here Are The States Where People Pay The Most (And Least) In Taxes


Photo: alancleaver via Flickr

Different states tax their residences at different levels. In some states, like New Jersey, residents pay 12.2% as a percentage of their income.In others, like Alaska, they pay as little as 6.3%. 24/7Wall St. reviewed a report recently released by the Tax Foundation to identify the states where residents paid the most and least in state and local taxes as a per cent of income.

The amount varies widely as not all states have the same sources of revenue. Some get more from business levies than others. Some have a statewide sales tax. Some cities and towns tax property based on value, while others don’t. The issue of what people are taxed at the state and local level is complex, among other reasons, because states often receive a large amount of their tax receipts from sources other than the simple payments of state residents.

Continue reading at 24/7 Wall St. >

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