THE 4 WORST STATES FOR TAXES

THE 4 WORST STATES FOR TAXES

If you are considering moving from one state to another there is one thing you should pay more attention to in addition to the common necessities such as a nearby school or hospitals is taxes. Weighing in on state taxes is very important when you are making a move from one state to another. In fact most of the states which I have listed in this article levy property taxes which are above $1,324, which is the national median. In addition to that some of the state which I have listed in this article charge above average fuel fees and taxes that said here are the 4 worst states for taxes.
1. Iowa
Iowa made it to the list thanks to its corporate taxes. The state’s 12% corporate income tax is the highest in the country.
2. Connecticut
In addition to being the only state that has a gift wax, Connecticut has very high property taxes compared to other states. The states income, corporate and sales tax are not good either with research indicating that they are worse than average.
3. Wisconsin
An alternative minimum tax which is placed on individuals and its high-income tax rate lands this state in our list of the 4 worst states for taxes. That said the state is working on improving some elements of its property tax and was also awarded for that by the Tax Foundation.
4. Ohio
A change in the Tax Foundation Methodology has made Ohio to feature in our list. The change sees states being penalized for the relationship they have with S and LLCs corporations. The states Income tax is not that bad but gets penalized for having 10 brackets (a flatter tax structure is preferred by the tax foundation).

 

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