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.
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.
ReplyDeleteMD 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%
ReplyDeleteI wonder how much they paid for that stupid crab.
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