Rhode Island Has 8th Highest Tax Burden in U.S., According to New Study

Rhode Island Has 8th Highest Tax Burden in U.S., According to New Study

Rhode Island has landed on a new top ten list - and it is not a good one.

WalletHub took a look at the states with the highest tax burdens - property tax, individual income tax, and total sales and excise tax burdens. 

And Rhode Island came in at 8th highest in the country. 

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“Since the tax code is so complicated, 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,” writes WalletHub. 

“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. It isn’t uniform across the U.S., either.”

 

Highs and Lows

Number one was Hawaii, followed by New York, then Vermont. 

The states with the “lowest burden?”

Alaska, followed by Wyoming, then New Hampshire. 

“It’s easy to be dismayed at tax time when you see just how much of your income you lose. Living in a state with a low tax burden can alleviate some of that stress. Some states charge no income tax or no sales tax, although all states have some form of property taxes and excise taxes" writes Chip Lupo, WalletHub Analyst.

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