Where to keep most of your money (after taxes)

April 15, 2019 is this year’s “Tax Day” for taxpayers in the US. The tax code is complicated and has rules based on individual household characteristics – added to which a new tax code is taking effect this year.

One simple ratio known as the “tax burden” helps clarify. Tax burden measures the proportion of total personal income that residents pay toward state and local taxes. It is another example of the US being like 50+ countries.

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. 

Overall New York state came out top (worst?) with a tax burden of 12.97 percent. Other notables include California at 9.47 percent, Massachusetts at 8.8 percent and, you guessed, Florida was 47th in ranking at 6.56 percent.