RI Ranks 7th Worst in U.S. for Business Tax Climate
GoLocalProv Business Team
RI Ranks 7th Worst in U.S. for Business Tax Climate
"Our Index gives taxpayers, the media, and policymakers a barometer to judge state tax systems against the rest of the country, while providing a roadmap to reform their tax codes to a simpler, more neutral, more transparent system," said the Tax Foundation on their website.
Rhode Island ranks 31st in corporate tax, 39th in individual income tax, 22nd in sales tax, last in unemployment insurance tax and 44th in poverty tax.
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RI ranks 44th in the country directly behind Maryland and Connecticut at 42 and 43, while ranking ahead of Ohio and Minnesota at 45 and 46 respectively.
The worst State Business Tax Climate is New Jersey, while the best is Wyoming.
The report shows tax systems as of July 1, 2016.
See the Full Rankings in the Map Below.
The Highest Taxed Communities for 2016
#39
New Shoreham
Taxes for median single family home: $928.00
Taxes for 2010 Honda Accord: $128.70
Total: $1,056.70
Median Household Income: $90,526
Total taxes as percent of median income: 1.1%
#38
Little Compton
Taxes for median single family home: $1,249.47
Taxes for 2010 Honda Accord: $183.48
Total: $1,432.95
Median Household Income: $74,698
Total taxes as percent of median income: 1.9%
#37
Jamestown
Taxes for median single family home: $1,907.89
Taxes for 2010 Honda Accord: $190.34
Total: $2,098.23
Median Household Income: $95,833
Total taxes as percent of median income: 2.1%
#36
Charlestown
Taxes for median single family home: $2,196.90
Taxes for 2010 Honda Accord: $173
Total: $2,369.90
Median Household Income: $68,904
Total taxes as percent of median income: 3.4 %
#35
Narragansett
Taxes for median single family home: $2,159
Taxes for 2010 Honda Accord: $217.27
Total: $2,376.27
Median Household Income: $65,842
Total taxes as percent of median income: 3.6%
#34
Newport
Taxes for median single family home: $2,318.59
Taxes for 2010 Honda Accord: $309.54
Total: $2,628.13
Median Household Income: $61,320
Total taxes as percent of median income: 4.2 %
#33
Westerly
Taxes for median single family home: $2,351.18
Taxes for 2010 Honda Accord: $391.64
Total: $2,742.82
Median Household Income: $62,381
Total taxes as percent of median income: 4.3 %
#32
Barrington
Taxes for median single family home: $3,965.72
Taxes for 2010 Honda Accord: $554.40
Total: $4,520.12
Median Household Income: $103,937
Total taxes as percent of median income: 4.3%
#31
Exeter
Taxes for median single family home: $3,339.90
Taxes for 2010 Honda Accord: $430.19
Total: $3,770.08
Median Household Income: $83,340
Total taxes as percent of median income: 4.5%
#30
Portsmouth
Taxes for median single family home: $3,433.34
Taxes for 2010 Honda Accord: $208
Total: $3,641.24
Median Household Income: $77,483
Total taxes as percent of median income: 4.6%
#29
Richmond
Taxes for median single family home: $4,580.68
Taxes for 2010 Honda Accord: $239.07
Total: $4,819.75
Median Household Income: $96,533
Total taxes as percent of median income: 4.9 %
#28
Middletown
Taxes for median single family home: $3,286.19
Taxes for 2010 Honda Accord: $211.86
Total: $3,498.05
Median Household Income: $70,244
Total taxes as percent of median income: 4.9%
#27
South Kingstown
Taxes for median single family home: $3,372.49
Taxes for 2010 Honda Accord: $246.97
Total: $3,619.46
Median Household Income: $72,021
Total taxes as percent of median income: 5.02 %
#26
North Smithfield
Taxes for median single family home: $3,624.56
Taxes for 2010 Honda Accord: $496.58
Total: $4,124.14
Median Household Income: 78,163
Total taxes as percent of median income: 5.2 %
#25
Cumberland
Taxes for median single family home: $3,711.48
Taxes for 2010 Honda Accord: $262.28
Total: $3,973.76
Median Household Income: $74,499
Total taxes as percent of median income: 5.3 %
#24
West Greenwich
Taxes for median single family home: $4,165.11
Taxes for 2010 Honda Accord: $251.06
Total: $4,416.06
Median Household Income: $80,987
Total taxes as percent of median income: 5.4 %
#23
Bristol
Taxes for median single family home: $3,107.39
Taxes for 2010 Honda Accord: $229
Total: $3,336.41
Median Household Income: $60,988
Total taxes as percent of median income: 5.4 %
#22
North Kingstown
Taxes for median single family home: $4,193.89
Taxes for 2010 Honda Accord: $290.92
Total: $4,484.81
Median Household Income: $80,506
Total taxes as percent of median income: 5.5 %
#21
Lincoln
Taxes for median single family home: $3,323.49
Taxes for 2010 Honda Accord: $404.71
Total: $3,782.20
Median Household Income: $66,827
Total taxes as percent of median income: 5.5 %
#20
Scituate
Taxes for median single family home: $4,163.46
Taxes for 2010 Honda Accord: $378.70
Total: $4,542.16
Median Household Income: $80,802
Total taxes as percent of median income: 5.6%
#19
East Greenwich
Taxes for median single family home: $5,145.66
Taxes for 2010 Honda Accord: $302
Total: $5,447.67
Median Household Income: $92,727
Total taxes as percent of median income: 5.8%
#18
Tiverton
Taxes for median single family home: $4,159.12
Taxes for 2010 Honda Accord: $252.64
Total: $4,411.76
Median Household Income: $73,438
Total taxes as percent of median income: 6%
#17
Smithfield
Taxes for median single family home: $3,817.96
Taxes for 2010 Honda Accord: $514.80
Total: $4,332.76
Median Household Income: $71,305
Total taxes as percent of median income: 6%
#16
Glocester
Taxes for median single family home: $4,806.67
Taxes for 2010 Honda Accord: $321.68
Total: $5,128.35
Median Household Income: $82,193
Total taxes as percent of median income: 6.2%
#15
Foster
Taxes for median single family home: $4,654.56
Taxes for 2010 Honda Accord: $487.74
Total: $5,142.30
Median Household Income: $80,720
Total taxes as percent of median income: 6.3%
#14
Hopkinton
Taxes for median single family home: $4,428.57
Taxes for 2010 Honda Accord: $279.57
Total: $4,708.14
Median Household Income: $71,636
Total taxes as percent of median income: 6.6%
#13
Coventry
Taxes for median single family home: $4,526.35
Taxes for 2010 Honda Accord: $247.50
Total: $4,773.85
Median Household Income: $69,904
Total taxes as percent of median income: 6.8%
#12
Burrillville
Taxes for median single family home: $4,102.62
Taxes for 2010 Honda Accord: $528
Total: $4,630.62
Median Household Income: $60,666
Total taxes as percent of median income: 7.6%
#11
Warwick
Taxes for median single family home: $4,508.97
Taxes for 2010 Honda Accord: $456.72
Total: $4,965.69
Median Household Income: $62,803.00
Total taxes as percent of median income: 7.9%
#10
Warren
Taxes for median single family home: $4,339.48
Taxes for 2010 Honda Accord: $343.20
Total: $4,682.68
Median Household Income: $53,706
Total taxes as percent of median income: 8.7%
#9
East Providence
Taxes for median single family home: $4,238.97
Taxes for 2010 Honda Accord: $489.72
Total: $4,728.69
Median Household Income: $51,077
Total taxes as percent of median income: 9.2%
#8
Cranston
Taxes for median single family home: $4,878.38
Taxes for 2010 Honda Accord: $560.20
Total: $5,438.58
Median Household Income: $58,684
Total taxes as percent of median income: 9.2 %
#7
Johnston
Taxes for median single family home: $5,039.62
Taxes for 2010 Honda Accord: $547.27
Total: $5,586.89
Median Household Income: $57,457
Total taxes as percent of median income: 9.7%
#6
North Providence
Taxes for median single family home: $4,857.08
Taxes for 2010 Honda Accord: $553.74
Total: $5,428.82
Median Household Income: $53,470
Total taxes as percent of median income: 10.1%
#5
West Warwick
Taxes for median single family home: $5,641.10
Taxes for 2010 Honda Accord: $375.80
Total: $6,016.90
Median Household Income: $50,138
Total taxes as percent of median income: 12 %
#4
Providence
Taxes for median single family home: $4,183.02
Taxes for 2010 Honda Accord: $792
Total: $4,975.02
Median Household Income: $37,514
Total taxes as percent of median income: 13.2 %
#3
Pawtucket
Taxes for median single family home: $4,756.69
Taxes for 2010 Honda Accord: $703.56
Total: $5,460.25
Median Household Income: $40,578
Total taxes as percent of median income: 13.4%
#2
Woonsocket
Taxes for median single family home: $4,769.30
Taxes for 2010 Honda Accord: $614.85
Total: $5,384.15
Median Household Income: $35,216
Total taxes as percent of median income: 15.2%
#1
Central Falls
Taxes for median single family home: $5,324.80
Taxes for 2010 Honda Accord: $642
Total: $5,966
Median Household Income: $28,842
Total taxes as percent of median income: 20.6%
