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Florida In the Top 5 States with Lowest Tax Burden

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With Tax Day coming up on April 15 and polls showing around 72% of Americans who think their current tax rate is too high, personal-finance website WalletHub released its 2024 Tax Burden by State report and once again it shows Florida in the top 5 states with the lowest tax burden.

WalletHub compiled its research to determine which 50 states tax their residents most aggressively. It based its findings on three components of state tax burden: property taxes, individual income taxes, and sales and excise taxes, as a share of total personal income.

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 States with Lowest Tax Burdens (%)

1. Alaska (4.93%)   

2. New Hampshire (5.63%)   

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3. Wyoming (5.70%)      

4 Florida (6.05%)   

5. Tennessee (6.07%)

6. Delaware (6.43%)   

Followed by North and South Dakota and Oklahoma

States with Highest Tax Burdens (%)  

1. New York (12.02%)               

2. Hawaii (11.80%)                     

3. Vermont (11.12%)                 

4. Maine (10.74%)                      

5. California (10.40%)                        

6. Connecticut (10.08%)                   

7. Minnesota (9.95%)               

8. Illinois (9.67%)                        

9. New Jersey (9.47%)                        

10. Rhode Island (9.38%)                 

Blue States vs Red States

When analyzing the data, it showed Blue States had a higher total tax burden than Red States.

WalletHub says that for this tax season, 92% of tax returns are expected to be filed electronically. The average refund for this year is around $3,213, though those amounts could change.

Source: WalletHub
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Ed Dean: Publisher

 

Ed Dean is a leading radio and news media personality including hosting the #1 statewide radio talk show in Florida. Contact Ed.Dean@FloridaDaily.com

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