Minnesota has the nation's fifth highest tax burden, a study shows. | Stock photo
Minnesota has the nation's fifth highest tax burden, a study shows. | Stock photo
A new study says Minnesota has the nation’s fifth highest tax burden.
The state’s residents pay 10.19% of their income on property taxes, state income taxes and sales and excise taxes, a study by WalletHub found, The Center Square reported.
Nationally, the percentages ranged from a low of 5.1% in Alaska to a high of 12.2% in New York, the story said.
Property taxes consumed 2.94% of incomes in Minnesota, the study found. Sales and income taxes accounted for an additional 3.64%.
Vermont had 5.12% for property taxes while in Arkansas it was only 1.81%, according to WalletHub.
Some states such as Nevada, Florida and Washington have no income taxes, but higher sales taxes. In Nevada, the sales tax burden is 6.2% of total income, second highest in the nation, the study found. Only Hawaii was higher, at 6.36% and it has an income tax.
Hawaii actually had the second highest tax burden in the country, at 11.48%, trailing only New York, WalletHub said.
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