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Chart of the Day: State Taxes

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer Jul 2, 2024
A map of the United States displaying the percentage of personal income paid toward state and local taxes by state in 2024. States with the highest tax percentages are depicted in dark red, while those with the lower percentages transition through shades of orange to yellow.

Contents

Today’s Chart of the Day is from Visualcapitalist.com and shows the percentage of personal income paid toward state and local taxes by state in 2024.

The lowest is Alaska at 4.9% (due to all the revenue the state receives from energy production taxes) and the highest is New York at 12.0%.Florida is 6.1% and is tied with Tennessee as the third lowest in the US.
Chart of the Day

About the Author

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer
Samuel A. Kiburz, Senior Vice President, Chief Investment Officer

Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.

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