If you hate paying taxes, move to Wyoming or Alaska

Posted By on March 23, 2014

Wallethub compared how average families from each state when it comes to paying taxes … how does your state look? According to their color coded map, the brighter red your state, the more you pay; conversely, the greener your state, the lower your taxes, and brown puts you somewhere in the middle.

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If you hate paying taxes, Wyoming residents pay the lowest taxes. Taxpayers there shell out 66 percent less than the median nationwide. Alaska came in a close second and those oil revenue checks sure help. red-states-impose-lower-taxes-than-blue-states1Even Senate Majority Leader Harry Reid’s state of Nevada keeps state taxes pretty low … the 3rd lowest in fact (no wonder it attracts Californians).

On the other hand, if your considered an average American according to this survey, New York is probably not for you. It has the highest tax burden per resident of all states followed close by you guessed it, California. Those two state punish their residents to the tune of 39% and 37% HIGHER than average for states in the U.S. By the way, average* means your family income is $65,596 and you live in a  $174,600 home. No wonder those actually paying the taxes are moving from NY and CA?

* The study accounts for everything from income taxes to alcohol and vehicle taxes, so individual results may vary. Higher taxes can also mean more social services and benefits for residents, so their impact on metrics like quality of life and social mobility may make the expense worth it.

Click this link or the map above for the full listing at WalletHub.

Comments

  • Saving from Kiplinger’s 2013 comparison …

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