Have you considered moving to another state but have no clue as to what to expect regarding taxes? If so, look at the seven least tax friendly states in the US.
- California – California is one of the states that has the highest taxes imaginable. Their state sales taxes are 7.5% and the income taxes range from 1-13.3%.
- Connecticut – Connecticut also makes the list. Connecticut’s state sales taxes are 6.35% and their income taxes range from 3-6.7%.
- New Jersey – New Jersey is nice to visit for Atlantic City, yet it is probably not a place where you want to reside. Their state sales taxes are 7% and the income taxes range from 1.4-8.97%.
Read our article “The 7 Most Tax Friendly States,” on our Redmond CPA site.
- New York – New York is a place that many consider moving to as they think they will land their dream job on Wall Street; however, the high tax rates may make you reconsider. The states sales taxes are 4% and the income taxes range from 4-8.82%.
- Hawaii – Everyone has the dream of going to live in Hawaii. However, many just go to visit because the taxes can be costly. Their state sales taxes are 4% and their income taxes range from 1.4-11%.
- Rhode Island – Rhode Island has state sales taxes at 7% and income taxes ranging from 3.75 – 5.99%.
- Minnesota – Minnesota has state sales taxes at 6.875% and income taxes ranging from 5.35-9.85%.
If you are someone who hates paying taxes in your current state, it is smart to research the state you plan to move to so you can see their tax rates. The seven states listed above are probably ones that you want to automatically cross off your list.