Comparison of Tax Rates Among States
By Robert A. DeLena
It may feel like it but New York State’s 8.82% is not the highest state marginal tax rate within our country.
That questionable honor goes to California with a highest tax rate of 13.3%.
No wonder the last census showed California had more residents leaving (138,000) than any other state.
A recent poll conducted by Edelman Intelligence from January 4th – 20th among 1,500 residents, revealed than 53% are considering leaving the Golden State.
Meanwhile, states that do have higher tax rates than New York include Hawaii (11%), Oregon (9.9%), New Jersey (10.75%) and Minnesota (9.8%).
There are currently seven states which levy no individual income tax at all: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
Other states are considering doing the same. And no, our State is not among them.