A financial services firm recently listed the states with the highest tax burden.
Determining the Nation’s Highest Tax Burden
A financial services firm named WalletHub released the list of the nation’s highest tax burden, along with the Tax Foundation, a research group that detailed the recent findings of taxes.
The financial services firm uses parameters to know the nation’s tax burden or what we called to the proportion of total personal income taxpayers have been paying for state and local taxes, considering the property tax, the income tax, and the total sales and excise tax.
According to the data, New York has the highest tax burden measure while Alaska ranked the lowest and California ranked 12th.
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List of Nation’s Highest Tax Burden
For state tax collections per individual, the Tax Foundation discovered that California was the second with the tax burden, collecting $6,325 for each individual, while Vermont collects $6,356 for each individual.
Texas ranked eighth in the nation’s highest property tax burden, California ranked 23rd, and Florida the 25th. Meanwhile, for the state income tax burden, Texas ranked 29th, and Florida was 46th, reported by The Sacramento Bee.
The Tax Foundation also revealed that the gasoline tax burden of California was at the top list, while the state ranked the lowest in the wine tax burden.
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