Post by KingOfPain on Apr 10th, 2009 at 12:27pm
The best and worst states for taxes
Where you live makes a big difference in how much you pay for everything from gas to tobacco. But no matter where you live, expect to start paying more.
By Scott McCredie
MSN Money
All 50 states may use similar methods to fund their budgets -- taxes on income, sales, property, fuel, alcohol, tobacco -- but each does so with its own formula.
The differences can be extreme. If you lived in Wyoming, the least-taxed state, you'd pay about $7 out of every $100 to the governor. In New Jersey, on the other end of the scale, you'd fork out $12. On average, state and local governments combine to loosen nearly 10% of your income from your grasp.
A smoker wanting to save some dough might prefer to live in South Carolina, which charges just 7 cents a pack -- as opposed to the state tax average of $1.19. A heavy drinker might want to move from Oregon, where hard liquor is taxed at the rate of nearly $21 a gallon, to Maryland or Washington, D.C., which have the country's lowest liquor taxes, $1.50 a gallon.
START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to
or 
END PRINTPAGE
Where does your state rank on taxes?
START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to or END PRINTPAGE
Where you live makes a big difference in how much you pay for everything from gas to tobacco. But no matter where you live, expect to start paying more.
By Scott McCredie
MSN Money
All 50 states may use similar methods to fund their budgets -- taxes on income, sales, property, fuel, alcohol, tobacco -- but each does so with its own formula.
The differences can be extreme. If you lived in Wyoming, the least-taxed state, you'd pay about $7 out of every $100 to the governor. In New Jersey, on the other end of the scale, you'd fork out $12. On average, state and local governments combine to loosen nearly 10% of your income from your grasp.
A smoker wanting to save some dough might prefer to live in South Carolina, which charges just 7 cents a pack -- as opposed to the state tax average of $1.19. A heavy drinker might want to move from Oregon, where hard liquor is taxed at the rate of nearly $21 a gallon, to Maryland or Washington, D.C., which have the country's lowest liquor taxes, $1.50 a gallon.
START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to
or END PRINTPAGEWhere does your state rank on taxes?
START PRINTPAGEMultimedia File Viewing and Clickable Links are available for Registered Members only!! You need to
or END PRINTPAGE