PROVIDENCE – As the April 18 Tax Day looms, a new study finds Rhode Island residents have the eighth-highest tax burden in the nation at 9.91%.
The WalletHub report released on Tuesday found the Ocean State’s property taxes are the fifth most burdensome in the country, at 4.48%, as a share of total state personal income. Individual income taxes accounted for 2.31% of Rhode Islanders’ personal income, No. 28 nationally, and sales and excise taxes made up 3.12% of total personal income, No. 34.
New York had the highest tax burden in the country at 12.75%, followed by Hawaii with a 12.7% percent tax burden, Maine at 11.42%, Vermont at 11.13%, and Minnesota 10.2%.
Connecticut’s tax burden was ranked seventh in the nation at 10.06%.
Massachusetts’ tax burden was 21st in the nation at 8.8%. The commonwealth’s property taxes were 12th in the nation at 3.49% of residents’ personal income. Individual income taxes accounted for 3.35% of Massachusetts residents’ personal income, No. 6, and sales and excise taxes made up 1.96% of total personal income, No. 45 nationally.
Alaska had the lowest tax burden in the nation at 5.05%, followed by Tennessee at 5.75%, Delaware at 6.22%, Wyoming at 6.32% and New Hampshire at 6.41%.
WalletHub, a personal finance website based in Washington, D.C., compared 50 states across the three tax types of state tax burdens — property taxes, individual income taxes and sales and excise taxes to determine tax burden.
