Paul L. Caron
Dean


Saturday, November 20, 2010

The 10 Highest State Income Tax Rates For 2011

Forbes Logo Forbes, The 10 Highest State Income Tax Rates For 2011:
  1. Hawaii:  11% ($200,000 single/$400,000 married)
  2. Oregon:  11% ($250,000 single/$500,000 married)
  3. California:  10.3% ($1,000,000 single & married)
  4. Iowa:  8.98% ($64,755 single & married)
  5. New Jersey:  8.97% ($500,000 single & married)
  6. New York:  8.97% ($500,000 single & married)
  7. Vermont:  8.97% ($379,150 single & married)
  8. Maine:  8.5% ($19,750 single, $39,550 married)
  9. Washington, D.C.:  8.5% ($40,000 single & married)
  10. Minnesota:  7.85% ($74,780 single, $132,220 married)

https://taxprof.typepad.com/taxprof_blog/2010/11/the-10.html

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Comments

How about sales taxes?

Posted by: Eric Rasmusen | Nov 20, 2010 2:01:33 PM

Sales taxes?

51 (tie). Oregon: 0%

Posted by: Jack Bogdanski | Nov 20, 2010 3:31:51 PM

Good point. I know at least Oregon has none, which may contribute to it being near the top there. I don't know enough about the state's taxes to say for sure, though.

Posted by: Walter | Nov 20, 2010 5:43:43 PM

What Oregon also does is cap the mortgage deduction.
This means a higher real income tax rate for lower incomes (i.e less than $250k)

Posted by: bonzo | Nov 20, 2010 8:23:13 PM

I have yet to see a good assessment of comprehensive tax burden- local income, local and state sales, property taxes, state income, mandatory fees, corporate taxes- that shows us the real burden.

Is it really so difficult to come up with by census tract or zip code?

Posted by: Patrick | Nov 20, 2010 9:03:13 PM

Then the pitchforks also make an appearance.

Posted by: Sandy P | Nov 21, 2010 8:35:34 AM

And what about property taxes?

In Colorado, taxes on a $500,000 house are about $3000/year. In Texas, it would likely be $12,000/year or more.

Taxes will be paid. The only question is how one pays them.

Posted by: Allan | Nov 22, 2010 8:10:37 AM