Report: R.I. fifth highest tax rate in U.S.

WALLETHUB SAID Rhode Island has the fifth highest tax rate in the nation. / COURTESY WALLETHUB
WALLETHUB SAID Rhode Island has the fifth highest tax rate in the nation. / COURTESY WALLETHUB

PROVIDENCE – Rhode Island has the fifth-highest tax rate in the nation, according to a WalletHub survey released Tuesday in light of tax season.
The Ocean State’s 13.57 percent state and local tax rate is only lower than highest-ranked Illinois at 14.76 percent; Nebraska, 13.8 percent; Wisconsin, 13.6 percent; and New York at 13.58 percent.
Rhode Island ranked the highest in New England in this category. Connecticut was sixth highest nationally with a 13.56 percent rate. Alaska has the lowest rate on the list at 5.64 percent.
Rates are based assuming a median U.S. household income of $54,286, owning a home valued at $178,600 (U.S. median home value), owning a car valued at $23,070 (the highest-selling car of 2016), and spending annually an amount equal to the spending of a household earning the median U.S. income. The national average of state and local tax rates is 10.72 percent, lower than Rhode Island’s overall rate.
Rhode Island was closer to the middle of the pack on sales and excise taxes, and income taxes, ranking 31st and 32nd, respectively, or 21st and 20th highest. Rhode Island also was second-highest in the nation for its cigarette tax rate, behind only New York.

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1 COMMENT

  1. WHAT???? 5th-Place!
    Something is terribly wrong here…are you sure you have all of your facts correct.
    I mean it is a well-known and established FACT that:

    “Rogues Island is the State that goes out of its way to be FIRST in everything it should be LAST”!
    “More-So it strives to be LAST in everything it should be FIRST”!

    Maybe this session of the General Assembly will, based on the way things are are going, and Legislation pending, supported by our IDIOT AG’s Office to legalize “Mary-Warner” (another source of taxes) we can, beyond any and all dispute, take over FIRST PLACE in its entirely? 🙂