During tax season, it seems as if everyone thinks the grass is greener one (or in some instances, two) states over. Wonder whether your own envy is justified? Luckily, the Tax Foundation, a nonpartisan tax research group based in Washington, D.C., crunched some numbers to determine which states are the take the most from residents.
Unlike other "worst of" surveys, the Tax Foundation takes a number of criteria into consideration, including state and local income taxes, property taxes and local sales taxes. Other overviews, such as those based on the Census, may rely solely on state income tax revenue (hence the minor difference in ranking).
Below are the least tax-friendly states, according to the Tax Foundation's results. Worth noting is that the results were calculated based on information made available from the Tax Foundation for 2008, the last tax year for which state income tax data is completely available. Any recent changes, where significant, have been noted.
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I used to live in Maryland. Once I was old enough to realize that it was such a big double taxation state, I moved to Delaware.
ReplyDeleteNow, because I live in Delaware (right over the line) and work in Maryland, I am penalized heavily each year by Maryland and they double tax me still!
If my boss would move his business to Delaware, I think we'd ALL be better off!