PROVIDENCE – Rhode Island has the eighth-highest tax burden in the nation at 10.36 percent, according to personal-finance website WalletHub.
With a week to go before Tax Day, WalletHub said it compared the tax burdens of all 50 states by measuring property taxes, individual income taxes and state and gross receipts taxes – three components of state tax burden – as percentages of the total personal income in each state.
Based on that analysis, the Ocean State ranks eighth highest for its overall tax burden, and fourth highest for its property-tax burden of nearly 5 percent.
New York has the highest overall tax burden at 13.12 percent, followed by Hawaii at 11.86 percent; Maine and Vermont, 11.13 percent each; and Connecticut, 10.91 percent.
The lowest? Alaska, at 5.18 percent. New Hampshire has the fourth-lowest tax burden at 6.88 percent. Massachusetts, in comparison, was 18th for its tax burden of 9.1 percent.
Rhode Island fared a bit better in categories of individual income tax burden, ranking 31st for its 2.24 percent rate, and total sales and gross receipts tax burden, coming in 32nd for its 3.18 percent rate.
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