Monday, 23 March 2015 15:05
Louisiana not best or worst to be rich or poor from tax perspective
Written by 

BATON-ROUGE-SKYFrom a tax perspective, Louisiana ranks in the middle when it comes to states best and worst to be rich or to be poor.

In a new survey from WalletHub, Louisiana that considers the best and the worst, Louisiana is not on the high or the low end of any of the findings.  

 

Here are two of the findings for Louisiana as it relates to comparative property tax burden for low-income earners and middle-income earners.   

  • The property tax burden for low-income earners is five times higher in New Jersey than in Louisiana.
     
  • The overall tax burden for middle-income earners is three times higher in New York than in Alaska.
     
  • The property tax burden for middle-income earners is six times higher in New Hampshire than in Louisiana.

In general, Alaska is the best place to live if you are rich or poor from a tax perspective


With the tax deadline for most Americans fast approaching and low- and middle-income families expected to pay higher effective tax rates than the rich, the leading personal finance social network WalletHub conducted an in-depth analysis of 2015’s Best States to Be Rich or Poor from a Tax Perspective.

In order to identify the best states where people in different income brackets spend the most and least on taxes, WalletHub calculated the share of one’s income that he or she contributes toward sales and excise taxes, property taxes and income taxes.

 

 

 

  Best States to Be Rich from a Tax Perspective   Worst States to Be Rich from a Tax Perspective
  1 Alaska   47 Minnesota
  2 Wyoming   48 New Jersey
  3 Nevada   49 Maryland
  4 Tennessee   50 Connecticut
  5 South Dakota   51 New York
  Best States to Be Poor from a Tax Perspective   Worst States to Be Poor from a Tax Perspective
  1 Alaska   47 Ohio
  2 Delaware   48 Arizona
  3 Montana   49 Illinois
  4 Nevada   50 Hawaii
  5 South Carolina   51 Washington


Key Stats

  • The overall tax burden for low-income earners is two times higher in Washington than in Alaska.
     
  • The sales and excise tax burden for low-income earners is six times higher in Washington than in Oregon.
     
  • The property tax burden for low-income earners is five times higher in New Jersey than in Louisiana.
     
  • The overall tax burden for middle-income earners is three times higher in New York than in Alaska.
     
  • The property tax burden for middle-income earners is six times higher in New Hampshire than in Louisiana.
     
  • The overall tax burden for high-income earners is four times higher in New York than in Alaska.


For the full report and to see where your state ranks, please visit: 
http://wallethub.com/edu/best-states-to-be-rich-poor-from-a-tax-perspective/11257/

 


State

“Low Income” Rank 
(Tax Burden as a % of Income)

“Middle Income” Rank 
(Tax Burden as a % of Income)

“High Income” Rank 
(Tax Burden as a % of Income)

Alabama 25
(9.61%)
20
(8.82%)
9
(6.03%)
Alaska 1
(5.40%)
1
(4.50%)
1
(3.43%)
Arizona 48
(11.70%)
18
(8.75%)
18
(7.36%)
Arkansas 46
(11.46%)
49
(11.29%)
37
(9.16%)
California 21
(9.49%)
15
(8.58%)
39
(9.35%)
Colorado 14
(8.68%)
17
(8.73%)
16
(7.26%)
Connecticut 34
(10.04%)
46
(10.77%)
50
(11.19%)
Delaware 2
(5.43%)
2
(5.70%)
10
(6.14%)
District of Columbia 7
(7.76%)
37
(10.16%)
43
(9.80%)
Florida 17
(9.23%)
10
(7.67%)
7
(5.56%)
Georgia 30
(9.87%)
30
(9.77%)
30
(8.46%)
Hawaii 50
(12.30%)
48
(10.86%)
31
(8.72%)
Idaho 11
(8.47%)
11
(7.73%)
22
(7.94%)
Illinois 49
(12.10%)
50
(11.30%)
44
(9.83%)
Indiana 44
(11.19%)
45
(10.72%)
24
(8.19%)
Iowa 39
(10.47%)
35
(10.03%)
33
(8.90%)
Kansas 29
(9.84%)
26
(9.50%)
26
(8.31%)
Kentucky 41
(10.62%)
40
(10.44%)
35
(9.10%)
Louisiana 35
(10.05%)
27
(9.57%)
14
(6.91%)
Maine 20
(9.35%)
28
(9.60%)
41
(9.59%)
Maryland 26
(9.70%)
47
(10.80%)
49
(10.40%)
Massachusetts 32
(9.92%)
31
(9.85%)
38
(9.16%)
Michigan 22
(9.50%)
25
(9.50%)
25
(8.19%)
Minnesota 24
(9.58%)
33
(9.94%)
47
(9.92%)
Mississippi 42
(10.77%)
38
(10.19%)
15
(7.12%)
Missouri 23
(9.51%)
22
(9.20%)
27
(8.32%)
Montana 3
(6.10%)
4
(6.59%)
12
(6.42%)
Nebraska 36
(10.23%)
39
(10.41%)
36
(9.14%)
Nevada 4
(7.00%)
3
(6.28%)
3
(4.71%)
New Hampshire 8
(7.99%)
8
(7.43%)
6
(5.36%)
New Jersey 33
(10.03%)
29
(9.71%)
48
(10.29%)
New Mexico 38
(10.37%)
34
(10.03%)
21
(7.87%)
New York 43
(10.89%)
51
(12.41%)
51
(12.40%)
North Carolina 18
(9.32%)
24
(9.37%)
29
(8.40%)
North Dakota 10
(8.37%)
12
(7.92%)
8
(5.70%)
Ohio 47
(11.46%)
41
(10.51%)
42
(9.62%)
Oklahoma 31
(9.90%)
23
(9.34%)
20
(7.77%)
Oregon 9
(7.99%)
14
(8.51%)
32
(8.78%)
Pennsylvania 45
(11.39%)
36
(10.10%)
34
(8.91%)
Rhode Island 37
(10.28%)
42
(10.65%)
45
(9.85%)
South Carolina 5
(7.08%)
13
(8.01%)
17
(7.31%)
South Dakota 28
(9.80%)
7
(7.17%)
5
(5.17%)
Tennessee 16
(9.17%)
6
(7.02%)
4
(4.97%)
Texas 40
(10.57%)
9
(7.55%)
13
(6.53%)
Utah 12
(8.60%)
16
(8.70%)
19
(7.75%)
Vermont 19
(9.34%)
32
(9.86%)
40
(9.44%)
Virginia 15
(8.81%)
19
(8.80%)
28
(8.36%)
Washington 51
(13.03%)
44
(10.69%)
11
(6.38%)
West Virginia 13
(8.65%)
21
(8.93%)
23
(8.13%)
Wisconsin 27
(9.76%)
43
(10.68%)
46
(9.89%)
Wyoming 6
(7.68%)
5
(6.65%)
2
(3.98%)

Best-States-to-be-Rich-&-Poor-from-a-Tax-Perspective-Artwork-v2

Detailed Findings
StateIncome LevelSales Tax as % of IncomeProperty Tax  as % of IncomeIncome Tax as % of IncomeTotal Tax as % of Income
Alabama Low 6.26% 1.23% 2.13% 9.61%
Middle 5.01% 1.13% 2.68% 8.82%
High 2.30% 1.10% 2.64% 6.03%
Alaska Low 2.44% 2.80% 0.16% 5.40%
Middle 1.65% 2.75% 0.10% 4.50%
High 0.88% 2.35% 0.20% 3.43%
Arizona Low 7.22% 3.42% 1.06% 11.70%
Middle 4.66% 2.53% 1.57% 8.75%
High 2.72% 2.27% 2.37% 7.36%
Arkansas Low 8.06% 1.56% 1.85% 11.46%
Middle 7.13% 1.50% 2.66% 11.29%
High 3.93% 1.35% 3.88% 9.16%
California Low 6.25% 2.81% 0.43% 9.49%
Middle 4.47% 2.71% 1.40% 8.58%
High 2.35% 2.85% 4.15% 9.35%
Colorado Low 4.89% 2.10% 1.69% 8.68%
Middle 4.07% 2.12% 2.54% 8.73%
High 1.99% 2.00% 3.27% 7.26%
Connecticut Low 5.02% 4.81% 0.21% 10.04%
Middle 3.81% 4.71% 2.25% 10.77%
High 2.46% 4.33% 4.40% 11.19%
Delaware Low 2.01% 1.64% 1.78% 5.43%
Middle 1.27% 1.40% 3.03% 5.70%
High 0.72% 1.26% 4.16% 6.14%
District of Columbia Low 5.47% 2.15% 0.14% 7.76%
Middle 4.44% 2.00% 3.72% 10.16%
High 2.45% 2.15% 5.19% 9.80%
Florida Low 7.32% 1.91% 0.00% 9.23%
Middle 5.45% 2.22% 0.00% 7.67%
High 3.14% 2.40% 0.02% 5.56%
Georgia Low 5.32% 2.30% 2.25% 9.87%
Middle 4.30% 2.30% 3.17% 9.77%
High 2.33% 2.20% 3.93% 8.46%
Hawaii Low 8.50% 1.20% 2.60% 12.30%
Middle 5.59% 1.42% 3.85% 10.86%
High 3.06% 1.26% 4.40% 8.72%
Idaho Low 5.10% 2.44% 0.93% 8.47%
Middle 3.84% 1.76% 2.13% 7.73%
High 2.06% 1.60% 4.29% 7.94%
Illinois Low 5.62% 4.42% 2.06% 12.10%
Middle 4.37% 4.11% 2.82% 11.30%
High 2.48% 4.36% 3.00% 9.83%
Indiana Low 6.31% 1.93% 2.95% 11.19%
Middle 4.73% 2.27% 3.71% 10.72%
High 2.49% 2.05% 3.66% 8.19%
Iowa Low 5.63% 2.65% 2.20% 10.47%
Middle 4.50% 2.50% 3.03% 10.03%
High 2.24% 2.57% 4.10% 8.90%
Kansas Low 6.87% 2.53% 0.44% 9.84%
Middle 5.12% 2.60% 1.78% 9.50%
High 2.99% 2.68% 2.64% 8.31%
Kentucky Low 5.14% 1.71% 3.77% 10.62%
Middle 3.83% 1.74% 4.87% 10.44%
High 2.11% 1.83% 5.16% 9.10%
Louisiana Low 7.75% 0.99% 1.31% 10.05%
Middle 6.50% 0.90% 2.17% 9.57%
High 3.39% 0.92% 2.60% 6.91%
Maine Low 5.20% 3.01% 1.15% 9.35%
Middle 3.80% 3.26% 2.54% 9.60%
High 1.99% 3.20% 4.39% 9.59%
Maryland Low 5.25% 2.04% 2.41% 9.70%
Middle 4.02% 2.48% 4.30% 10.80%
High 2.09% 2.68% 5.64% 10.40%
Massachusetts Low 3.92% 3.77% 2.23% 9.92%
Middle 2.95% 3.22% 3.67% 9.85%
High 1.92% 3.10% 4.15% 9.16%
Michigan Low 4.97% 2.01% 2.52% 9.50%
Middle 3.58% 2.60% 3.32% 9.50%
High 2.00% 2.58% 3.61% 8.19%
Minnesota Low 5.38% 2.64% 1.56% 9.58%
Middle 4.21% 2.79% 2.94% 9.94%
High 2.41% 2.73% 4.78% 9.92%
Mississippi Low 7.17% 2.20% 1.40% 10.77%
Middle 5.78% 2.07% 2.34% 10.19%
High 2.81% 1.60% 2.71% 7.12%
Missouri Low 5.14% 2.68% 1.68% 9.51%
Middle 3.99% 2.30% 2.91% 9.20%
High 2.27% 2.30% 3.75% 8.32%
Montana Low 1.92% 3.22% 0.96% 6.10%
Middle 1.16% 2.66% 2.76% 6.59%
High 0.46% 2.29% 3.67% 6.42%
Nebraska Low 5.82% 3.61% 0.80% 10.23%
Middle 4.57% 3.31% 2.53% 10.41%
High 2.48% 3.00% 3.66% 9.14%
Nevada Low 4.80% 1.60% 0.60% 7.00%
Middle 3.59% 2.16% 0.53% 6.28%
High 2.21% 2.05% 0.46% 4.71%
New Hampshire Low 2.19% 5.20% 0.60% 7.99%
Middle 1.65% 5.18% 0.60% 7.43%
High 0.72% 3.94% 0.70% 5.36%
New Jersey Low 4.65% 5.30% 0.09% 10.03%
Middle 3.51% 4.80% 1.40% 9.71%
High 2.02% 5.07% 3.20% 10.29%
New Mexico Low 7.98% 1.80% 0.60% 10.37%
Middle 6.13% 1.74% 2.16% 10.03%
High 3.19% 1.46% 3.23% 7.87%
New York Low 6.37% 4.30% 0.21% 10.89%
Middle 4.75% 4.17% 3.49% 12.41%
High 2.58% 4.27% 5.56% 12.40%
North Carolina Low 5.04% 1.66% 2.62% 9.32%
Middle 3.65% 2.10% 3.62% 9.37%
High 2.02% 2.05% 4.33% 8.40%
North Dakota Low 6.34% 1.50% 0.53% 8.37%
Middle 5.58% 1.57% 0.78% 7.92%
High 3.00% 1.50% 1.20% 5.70%
Ohio Low 5.88% 3.18% 2.40% 11.46%
Middle 4.57% 2.60% 3.34% 10.51%
High 2.99% 2.53% 4.10% 9.62%
Oklahoma Low 6.80% 1.94% 1.16% 9.90%
Middle 5.37% 1.53% 2.44% 9.34%
High 3.15% 1.32% 3.31% 7.77%
Oregon Low 1.53% 3.47% 3.00% 7.99%
Middle 0.93% 2.84% 4.74% 8.51%
High 0.42% 2.64% 5.73% 8.78%
Pennsylvania Low 4.85% 3.15% 3.40% 11.39%
Middle 3.40% 2.80% 3.90% 10.10%
High 1.95% 3.00% 3.96% 8.91%
Rhode Island Low 5.59% 3.71% 0.99% 10.28%
Middle 3.88% 4.47% 2.30% 10.65%
High 2.17% 4.39% 3.30% 9.85%
South Carolina Low 4.12% 2.09% 0.88% 7.08%
Middle 3.61% 2.05% 2.35% 8.01%
High 1.78% 1.70% 3.83% 7.31%
South Dakota Low 7.61% 2.19% 0.00% 9.80%
Middle 5.37% 1.80% 0.00% 7.17%
High 3.09% 2.09% 0.00% 5.17%
Tennessee Low 7.44% 1.73% 0.00% 9.17%
Middle 5.41% 1.51% 0.10% 7.02%
High 3.27% 1.51% 0.19% 4.97%
Texas Low 7.72% 2.85% 0.00% 10.57%
Middle 4.88% 2.67% 0.00% 7.55%
High 3.34% 3.19% 0.00% 6.53%
Utah Low 5.64% 1.96% 1.00% 8.60%
Middle 3.65% 1.70% 3.35% 8.70%
High 2.14% 1.59% 4.02% 7.75%
Vermont Low 4.64% 4.50% 0.20% 9.34%
Middle 3.55% 4.71% 1.61% 9.86%
High 1.87% 4.27% 3.30% 9.44%
Virginia Low 4.01% 2.40% 2.41% 8.81%
Middle 3.00% 2.30% 3.49% 8.80%
High 1.67% 2.53% 4.16% 8.36%
Washington Low 9.76% 3.27% 0.00% 13.03%
Middle 8.16% 2.53% 0.00% 10.69%
High 4.17% 2.22% 0.00% 6.38%
West Virginia Low 5.48% 1.28% 1.89% 8.65%
Middle 4.44% 1.19% 3.29% 8.93%
High 2.15% 1.30% 4.68% 8.13%
Wisconsin Low 5.04% 3.23% 1.49% 9.76%
Middle 3.60% 3.52% 3.56% 10.68%
High 2.11% 3.34% 4.44% 9.89%
Wyoming Low 5.53% 2.16% 0.00% 7.68%
Middle 4.65% 2.00% 0.00% 6.65%
High 2.22% 1.76% 0.00% 3.98%

 
Note: The small difference that might exist in some cases when adding up the sub-components is the consequence of rounding to two decimal points the results.

Login to post comments
Powered By JFBConnect
  • Cat Fights on the Hot Cement Confederate New Orleans statues
  • Ex-Saints, Bears, Bills, NFL Exec, Jim W. Miller discusses NFL Draft tomorrow
  • Trump's new plan; Curtains on tax returns release; 40% say Trump-Russia; Probing Obama admin
  • Watch Louisiana Governor Edwards talk about CAT Tax failure

catRarely, have I seen few issues that have generated as much raw heat, tension, and passion than the Confederate monuments controversy. 

Just as existed during the real civil war, where brothers battled brothers, social media is the battleground, particularly Facebook, pitting friend against friend.

On one side of the tense divide, there are those who are protecting the New Orleans civil war era monuments.  Burnt in effigy, forever, is the symbol of Mayor Mitch Landrieu for up-ending what the monument protectors consider to be the loving civil society of New Orleans.

Lately, events have turned somewhat militaristic.

Some protectors of the Confederate monuments have been staying vigilant, in person and online, even surveilling during the wee hours of the morning, waiting for the next Mayor Landrieu attack. On Sunday morning, with protections of snipers, masked workers and a dumbstruck audience, the worst of all of the monuments was cut and carried., the Liberty Monument. 

Read More

miller nfl live2 5It’s D-Day or Draft Day tomorrow in the NFL.

More specifically, Thursday represents the first day of the NFL draft 2017.

Read More

 

trump curtainsThe major President Trump news of the day focuses upon taxes, not only the tax cuts he is proposing but his own taxes, which he obviously, refuses to unveil.

 

Read More

edwards play money 1

At a press conference today, Louisiana Governor John Bel Edwards said the CAT Tax did not pass the House Ways and Means Committee.  The Governor, in addressing the media said that "the fate of that bill was decided long before we unveiled it".

Read More

latter-blum2

Sen. Appel talks budget, economy

TRUMP TALK

Dead Pelican

Optimized-DeadPelican2 1 1