Another study confirms what those of us who live in New York already knew – we pay more in taxes than any other state. Also not surprising is that the states with the lowest taxes are red states and the states with the highest taxes are blue states.
The Washington Examiner has summarized the report:
As Tax Day approaches in just one month, a new report finds a huge divide between tax rates throughout the 50 states, with New Yorkers the most heavily burdened with an average bill of $9,718, 40 percent higher than the national average.
WalletHub provided Secrets with its “2014 Report on States with the Highest & Lowest Taxes” that also found that conservative “red” states tax far less than liberal “blue” states, New York being just one example. (Read More)
According to the Examiner, WalletHub added together 10 different taxes, including state and local income taxes, booze taxes and telecommunications taxes. Bostinno reports that they also include property taxes, which are quite high here in New York. Unfortunately, Governor Andrew Cuomo’s idea of tax relief are a few special tax-free zones for new businesses. A lot of good that does for those of us who have been paying these high taxes for years.