Tags: Wyoming | return | investment | taxes

WalletHub: Wyoming Is the Top State for Taxpayer Return on Investment

By    |   Tuesday, 22 April 2014 12:13 PM

Wyoming heads the ranking of states for having the highest return on investment for tax payments, according to a study by personal finance website WalletHub.

It measured the return on investment by combining state and local tax rates with the quality of services funded by those taxes, including infrastructure, education, health, safety, the economy and pollution.

Wyoming was followed on the list by Alaska, South Dakota, Washington and North Dakota. Wyoming ranked first for tax rate and 13th for the quality of government services.

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Alaska ranked second for lowest taxes and 26th for the quality of government services, while South Dakota ranked fifth for lowest taxes and 15th for the quality of government services.

Arkansas headed up the bottom of the list, preceded by Mississippi, Louisiana, the District of Columbia and North Carolina. Arkansas ranked 31st for lowest taxes and 50th for the quality of government services.

Mississippi ranked 15th for lowest taxes and 51st for the quality of government services, while Louisiana ranked 17th for lowest taxes and 49th for the quality of government services.

Minnesota ranked first in quality of government services, but 38th for tax rate, resulting in an overall ranking of 17th.

Meanwhile, among the 45 states that have a state and/or local sales tax, Alaska has the lowest tax rate (1.69 percent), followed by Hawaii (4.35 percent), Wisconsin (5.43 percent), Wyoming (5.49 percent) and Maine (5.5 percent), according to the Tax Foundation.

Tennessee has the highest combined sales tax (9.45 percent), followed by Arkansas (9.19 percent), Louisiana (8.89 percent), Washington (8.88 percent) and Oklahoma (8.72 percent).

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Wyoming heads the ranking of states for having the highest return on investment for tax payments, according to a study by personal finance website WalletHub.
Wyoming, return, investment, taxes
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2014-13-22
Tuesday, 22 April 2014 12:13 PM
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