Will this presidential election be the most important in American history?
Forbes conducted an analysis of “The Worst States for Taxes” in 2015, and the results are exactly what you’d imagine. Big government at the state level comes at a price, and you can bet it’s coming out of your wallet.
Which state has the #1 worst tax burden? According to Forbes:
1) New York
State and local tax burden: 12.60%
Effective state tax rate ($50,000 taxable income): 5.46%
Highest tax bracket: $1,115,850
Rate at highest tax bracket: 8.82%
Per Capita Income: $52,4172) New Jersey
State and local tax burden: 12.30%
Effective state tax rate ($50,000 taxable income): 2.54%
Highest tax bracket: $500,000
Rate at highest tax bracket: 8.97%
Per Capita Income: $54,422
Connecticut, California, and Wisconsin round out the Top 5 Worst, respectively.
