Overall Rank* |
State |
Total Tax Burden |
Property Tax Burden |
Individual Income Tax Burden |
Total Sales & Excise Tax Burden |
(%) |
(%) |
(%) |
(%) |
2 |
Hawaii |
12.70% |
2.55% |
3.18% |
6.97% |
-34 |
-8 |
-1 |
2022’s Tax Burden by State
WalletHub, Mar 29, 2022
This year, Uncle Sam will take his cut of the past year’s earnings on April 18. Many taxpayers are undoubtedly wondering how this year’s Tax Day will affect their finances, as a lot of people are still struggling financially as a result of the pandemic. Since the tax code is so complicated and has rules based on individual household characteristics, it’s hard for the average person to tell how they will be impacted.
One simple ratio known as the “tax burden” helps cut through the confusion. Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes. And it isn’t uniform across the U.S., either.
To determine the residents with the biggest tax burdens, WalletHub compared the 50 states across the three tax types of state tax burdens — property taxes, individual income taxes and sales and excise taxes — as a share of total personal income in the state….
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KHON: Hawaii ranks second for most tax burden state: Study
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