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MAP MONDAY: Tax Burden by State

Though the state and federal income tax deadlines have been extended to May due to the ongoing pandemic and the dispersal of economic stimulus payments, April is still considered the _ month for taxation.

Personal financial website WalletHub recently compared the 50 states across three components of state tax burden — property taxes, individual income taxes, and sales and excise taxes — as a share of total personal income.

We take a look at the comprehensive findings in this week’s Map Monday.

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Source: WalletHub
States with Highest Tax Burdens (%)States with Lowest Tax Burdens (%)
1. New York (12.79%)T-40. Alabama (7.45%)
2. Hawaii (12.19%)T-40. Montana (7.45%)
3. Vermont (10.75%)T-40. South Carolina (7.45%)
4. Maine (10.50%)43. South Dakota (7.37%)
5. Connecticut (10.44%)44. Oklahoma (7.13%)
6. Minnesota (9.99%)45. Florida (6.97%)
7. New Jersey (9.98%)46. New Hampshire (6.84%)
8. Rhode Island (9.69%)47. Delaware (6.21%)
9. Illinois (9.52%)48. Wyoming (6.14%)
10. California (9.48%)49. Tennessee (5.74%)
11.Kansas (9.36%)50. Alaska (5.10%)

As for the Peach State, Georgia ranked No. 35. Our state ranked 33rd for property tax burden, 23rd for individual income tax burden, and 36th for Sales & Excise tax burden.

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7.91% of the income of Georgians, on average, went to state-oriented taxes – 2.59% for property taxes, 2.38% for individual income taxes, and 2.94% for sales and excise tax burdens.

Key Stats – Tax Facts Infographic

  • 79% of Americans don’t know if they’ll owe income taxes on their stimulus checks (they won’t).
  • Americans spend 8 billion hours doing taxes each year. The average person spends 12 hours and $230 completing their 1040.
  • 90% of tax returns are expected to be filed electronically. The average refund in 2021 is $3,021, as of 2/26/2021.
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  • 30% of people say making a math mistake is their biggest Tax Day fear, and 29% worry most about not having enough money. That edges out identity theft (22%) and getting audited (19%).
  • 38% of Americans would move to a different country and 27% would get an “IRS” tattoo for a tax-free future.
  • 50% of people would rather do jury duty than their taxes. 1 in 4 would prefer talking to their kids about sex. More than 10% would swim with sharks, spend the night in jail and drink expired milk.
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artwork 2021 tax burdens by state
blue vs red image tax burden 2021

You can read more about the study and the methodology here.

The Georgia Virtue
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