Tuesday, August 14, 2018
Business

Florida ranks No. 4 for lowest tax burden

Tax day might not bring warm fuzzy feelings for most, but it will bring slightly more savings for Floridians than residents of other states. The Sunshine State has the fourth-lowest tax burden in the country, according to a recent study released by WalletHub.

"Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes," the study said.

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Florida is one of seven states with no personal income tax. It’s total tax burden, WalletHub said, is 6.64 percent. Alaska has the lowest tax burden (4.94 percent), followed by Delaware (5.68 percent) and Tennessee (6.47 percent). New York has the highest tax burden (13.04 percent), followed by Hawaii (11.57 percent) and Maine (11.02 percent).

Contact this reporter at [email protected] or (727) 892-2249. Follow @malenacarollo.

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