Taxes are a necessary evil and an essential part of any functioning state. Taxes provide state and federal governments to fund various public services. In the US the amount of taxes you pay depends on many factors. Depending on where you live, how much money you make, what you own and how many dependents you have will change the amount of taxes you owe each year. Some states have higher tax rates than others, which impacts the cost of living and doing business in those states. We can see from this map at madisontrust.com which states have the highest tax rates in the US. The top 10 states with the highest taxes in the US from this map are New York, New Jersey, Illinois, California, Washington, Vermont, Minnesota, Connecticut, Iowa, and Rhode Island. New York ranks number one on this list due to the outrageous 12.97% tax rate of state and local income taxes as well as the high property tax. in New York City. New Jersey is the second-highest taxed state and Illinois is the third. Where does your state fall on this list? Do you feel taxes in your state should be lower?
Infographic by: madisontrust
