Tags: Wyoming | New York | state | taxes

Wyoming Tops WalletHub List as Best State on Taxes

By    |   Tuesday, 18 March 2014 01:35 PM

Wyoming leads a ranking of the best states in which to be a taxpayer compiled by WalletHub, a personal finance social network.

WalletHub judged states according to their real estate taxes, state and local income taxes, vehicle property taxes, vehicle sales taxes, sales and use taxes, fuel taxes, alcohol taxes, food taxes and telecommunications taxes.

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Wyoming taxpayers' average annual state and local tax payments totaled $2,365, or 66 percent below the national average.

Alaska took second place at $2,791, 60 percent below the national average, followed by: Nevada at $3,370, 52 percent below the national average; Florida at $3,648, 48 percent below the national average; and South Dakota at $3,766, 46 percent below the national average.

New York is at the bottom of the list, which includes the nation's capital, in 51st place. New York taxpayers' average annual state and local tax payments registered $9,718, 40 percent above the national average. California came in 50th at $9,509, 37 percent above the national average.

Republican-controlled states had an average ranking of 19.9, compared to 31.4 for Democratic-controlled states.

Meanwhile, a new study of state dividend taxes by the Tax Foundation shows Florida, Nevada, South Dakota, Texas, Washington, Wyoming and Alaska are tied for the lowest rate at zero.

California has the highest dividend tax rate, 13.3 percent, followed by Hawaii at 11 percent and New York at 8.8 percent.

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Wyoming leads a ranking of the best states in which to be a taxpayer compiled by WalletHub, a personal finance social network.
Wyoming,New York,state,taxes
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2014-35-18
Tuesday, 18 March 2014 01:35 PM
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