Nov 8 2012

 

 

Alaska-day

Where should you move if you want to pay very low taxes? Well, 24/7 Wall Street has published a list of the top ten states with the lowest taxes. Here are the top five and you can view the remainder at their site.

1. Alaska

- Taxes paid by residents as pct. of income: 7.0%
- Total state and local taxes collected: $6.17 billion (11th lowest)
- Pct. of total taxes paid by residents: 24.5% (the lowest)
- Pct. of total taxes paid by non-residents: 75.5% (the highest)

2. South Dakota

- Taxes paid by residents as pct. of income: 7.6%
- Total state and local taxes collected: $2.58 billion (the lowest)
- Pct. of total taxes paid by residents: 57.0% (8th lowest)
- Pct. of total taxes paid by non-residents: 43.0% (8th highest)

3. Tennessee

- Taxes paid by residents as pct. of income: 7.7%
- Total state and local taxes collected: $18.24 billion (23rd highest)
- Pct. of total taxes paid by residents: 63.2% (13th lowest)
- Pct. of total taxes paid by non-residents: 36.8% (13th highest)

4. Louisiana

- Taxes paid by residents as pct. of income: 7.8%
- Total state and local taxes collected: $16.15 billion (24th highest)
- Pct. of total taxes paid by residents: 53.1% (4th lowest)
- Pct. of total taxes paid by non-residents: 46.9% (4th highest)

5. Wyoming

- Taxes paid by residents as pct. of income: 7.8%
- Total state and local taxes collected: $3.48 billion (5th lowest)
- Pct. of total taxes paid by residents: 33.1% (2nd lowest)
- Pct. of total taxes paid by non-residents: 66.9% (2nd highest)