Tax Burden By State: Where Does Louisiana Rank?
With the nation's Tax day rapidly approaching and with many Americans still dealing with changes in the tax code, personal finance website WalletHub has released its 2019 Tax Burden By State, plus the latest Tax Facts.
To determine which states tax their citizens most aggressively, WalletHub took a a look at all 50 states, comparing the components of their tax burden - individual income taxes, property taxes and sales and excise taxes - as a percentage of their income.
So, which Americans are taxed the most by the states in which they live? Here's the WalletHub Top 5:
1) New York 12.97%
2) Hawaii 11.71%
3) Maine 10.84%
4) Vermont 10.77%
5) Minnesota 10.25%
And the 5 least taxed:
46) New Hampshire 6.86%
47) Florida 6.56%
48) Tennessee 6.28%
49) Delaware 5.55%
50) Alaska 5.10%
And what about Louisiana? Where does the Pelican State rank on the list of most and least taxed? Well, according to WalletHub, we're number 24 overall.
Here's the breakdown:
Louisiana Total Taxation: 8.51% (24); Property Tax: 2.08% (43); Individual Income Tax: 1.44% (39); Sales and Excise Tax: 4.99% (4).