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Wednesday, January 29, 2014

The 10 Worst States For Taxes In 2014

New York

Top State Income Tax Rate: 8.82 percent

Sales tax: 4 percent

Property taxes per capita: $2,280

The Empire State takes the prize as the worst state for taxes, thanks to its high individual tax rate and relatively high sales tax. New York is in a virtual tie with neighboring New Jersey, though the former state gets the bottom spot because its individual income tax suffers from such high rates and narrow bases, according to the Tax Foundation. New York Governor Andrew Cuomo has announced the formation of a tax relief commission to look for ways to transform the state’s onerous tax code.

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MARYLAND is one of them.

3 comments:

Anonymous said...

New York State residents also pay county sales taxes from 7.75 to 8.755%. Add to the state sales tax for final sales tax.

Anonymous said...

MD is actually worse than the article indicates with the top County Piggyback income tax of 3.2% making the real top income tax rate equal to 8.95%

Anonymous said...

I wonder how much they paid for that stupid crab.