The consumer finance site WalletHub has produced an analysis of 2015’s Best States to Be Rich or Poor from a Tax Perspective.
To identify the best states where people in different income brackets spend the most and least on taxes, WalletHub calculated the share of one’s income that is contributed toward sales and excise taxes, property taxes and income taxes.
Best States to Be Rich from a Tax Perspective
1. Alaska
2. Wyoming
3. Nevada
4. Tennessee
5. South Dakota
Worst States to Be Rich from a Tax Perspective
47. Minnesota
48. New Jersey
49. Maryland
50. Connecticut
51. New York
Best States to Be Poor from a Tax Perspective
1. Alaska
2. Delaware
3. Montana
4. Nevada
5. South Carolina
Worst States to Be Poor from a Tax Perspective
47. Ohio
48. Arizona
49. Illinois
50. Hawaii
51. Washington
Key Statistics
The overall tax burden for low-income earners is two times higher in Washington than in Alaska.
The sales and excise tax burden for low-income earners is six times higher in Washington than in Oregon.
The property tax burden for low-income earners is five times higher in New Jersey than in Louisiana.
The overall tax burden for middle-income earners is three times higher in New York than in Alaska.
The property tax burden for middle-income earners is six times higher in New Hampshire than in Louisiana.
The overall tax burden for high-income earners is four times higher in New York than in Alaska.
For the full report and to see where different states rank,
