Living in New York Is Very Taxing…Again
Why is Governor Andrew Cuomo smiling? Maybe it's New York's great farms or its entertainment and cultural options in Manhattan or its investment and activity in the broadband world. In taxes? Not so much.
April 17th is the finish line in 2018 for filing taxes. And with that comes a lot of re-assessment as to where we stand as individuals (and as a state) among our peers.
WalletHub has come out with its annual study of the U.S. states that present residents with the biggest and least tax burdens across three areas--property taxes, individual taxes, and sales taxes. The stats may not come as a huge surprise to New York residents.
The Empire State ranks #1 among all states in Overall Tax Burden. Also #1 by a long shot in Individual Income Tax Burden. And sixth in Property Tax Burden. There's a little silver lining in Sales & Excise Tax Burden, in which New York ranks 22nd.
In case you're considering a permanent relocation based solely on taxes, Alaska is your best bet, followed by Delaware, Tennessee, Florida and New Hampshire.