NEW YORK (WWTI) — With the 2021 Tax Day delayed to March 17, many New Yorkers are continuing to feel the burden of tax season.
According to the personal-finance website WalletHub, New York is the 2021 state with the highest tax burden. This was determined in WalletHub’s 2021 Tax Burden by State report released on Wednesday. The report ranked states based on property taxes, individual income taxes and sales and excise taxes.
The report determined that New York ranked highest for individual income tax burden, while Alaska, Wyoming, Florida, South Dakota, Texas, Nevada and Washington all had no income tax burden.
For property taxes, New Hampshire had the highest burden while Alabama had the lowest. And considering total sales and excise taxes, Hawaii had the highest and Oregon had the lowest.
New York State was found to have at 12.79% tax burden, resulting in the highest ranking. Additional major findings for New York State included:
- Highest individual income tax burden: 4.96%
- Sixth highest property tax burden: 4.40%
- 22nd highest total sales and excise tax burden.
WalletHub also released a tax day infographic which is included below.
For full findings from the 2020 Tax Burden by State report, visit the WalletHub website.