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Worst States for Income Taxes

Discussion in 'Economy' started by SixofNine, Aug 26, 2015.

  1. SixofNine

    SixofNine Jedi Sage Staff Member

    This appears to be an evaluation of state and local income taxes only.

    The Worst States For Taxes | Forbes

    To compare apples to apples, they calculated the effective tax rate for single taxpayers earning a taxable income of $50,000.

    Bulletin (Number 1 = worst):

    1. New York
    2. New Jersey
    3. Connecticut
    4. California

    New Jersey has miserable property taxes, too, so I can't imagine what the overall tax burden on a homeowner would be there.
     
  2. Andy

    Andy ΜΟΛΩΝ ΛΑΒΕ

    Hint. It sucks balls.
     
  3. ShinyTop

    ShinyTop I know what is right or wrong!

    Even though Florida has its own FARK tag we have no state income tax.
     
  4. ethics

    ethics Pomp-Dumpster Staff Member

    Ha. All Blue States.
     
  5. Sir Joseph

    Sir Joseph Registered User

    I used to live in NY and NJ and taxes were a killer. Add to that NJ property taxes and it is extremely horrendous. I now live in a flat tax state with a relatively low tax, until our asshat governor raises the tax, which the legislature has agreed to accept.
    One thing NY has though is lots of deductions and if you don't live in NYC you don't pay NYC taxes. In PA, even if you don't live in Philly you need to pay Philly taxes. NJ though is a gross-tax state so very few donations, but at least they have reciprocity with some states.
    BTW, I worked in NY for three days last year and needed to pay NY taxes, they require a full W2, federal wages and then you have to figure out NY income. It's no wonder people and businesses are escaping these areas.
     

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