Minnesota Has 5th Highest Tax Burden In United States
Tax Day is right around the corner, and Minnesotans are seeing a big hit in their pocketbooks.
To find out the residents with the biggest tax burdens, WalletHub compared the 50 states across the three tax types of state tax burdens: Property taxes, individual income taxes and sales and excise taxes as a share of total personal income in the state.
The study found that Minnesotans have a big burden, the 5th highest in the U.S.
The biggest reason for Minnesota being so high is that they rank 4th in Highest Individual Income Tax as Percent of Personal Income, while they come in at 21st at Total Sales & Excise Tax Burden and 20th at Property Tax Burden.
New York residents have the top burden at 13.04%, while Hawaii, Maine, Vermont and Minnesota round out the top five. Minnesota's tax burden is at 10.37%.
Alaska has the lowest tax burden at 4.94%, while Delaware and Tennessee round out the bottom three.
You can check out the full list HERE, and see where our neighbors rank on the list.