Slide Show | August 2016

See All Slide Shows   Page 1 of 13  

10 Worst States to Live In for Taxes

slideshow image


Lots of people fret about how much they have to pay Uncle Sam, but he’s not the only tax man you have to worry about: Your state can squeeze you for plenty of taxes, too.

State income taxes or property taxes could cost you thousands of dollars every year. High sales taxes or gas taxes could slowly drain your funds every time you pull out your wallet.

Updated for 2016, here is our list of the 10 least tax-friendly states in the U.S., where you’ll pay above-average taxes on income, property, gas and almost everything you buy. The same states occupy the five “top” spots on our list as they did in 2015; Minnesota is the biggest mover on the list, now the No. 6 least-friendly state for taxes, in part due to a new top tax rate on the state’s highest earners.In many cases, taxes may rise even higher in the years ahead. Our review of states’ fiscal health reveals crippling deficits and pension liabilities that could lead to future tax hikes, service cuts or both.

Take a look. It’s not pretty.

Our calculation of each state’s effective tax rate is based on hypothetical individual and joint taxpayers with a variety of income sources. See last slide for a full explanation of our methodology.

10 Worst States to Live In for Taxes



Permission to post your comment is assumed when you submit it. The name you provide will be used to identify your post, and NOT your e-mail address. We reserve the right to excerpt or edit any posted comments for clarity, appropriateness, civility, and relevance to the topic.
View our full privacy policy

Check Out
Kiplinger's 2016 Online Broker Rankings

print / view as single page order a reprint