Florida Listed As One Of The Most Tax Friendly States

Uncle Sam takes his cut of our past year’s earnings every April, and 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. To determine the biggest tax burdens, WalletHub compared the 50 states based on the cost of three types of taxes — property taxes, individual income taxes, and sales and excise taxes — as a share of total personal income in the state. Key findings show that New York has the highest overall tax burden, while Alaska has the lowest. California has the highest individual income tax burden, Texas and Florida have the lowest. On average, the report shows that so-called “Red states” have a lower tax burden than blue states. The full report is online at wallethub.com.